All articles tagged with #form energy
In Weirton, West Virginia, a former steel town, Ray Larkey transitions from working in a steel mill to a job at Form Energy, a company focusing on energy solutions that are not labeled as 'green,' highlighting a shift in the town's industrial landscape.
Form Energy, a startup led by a former Tesla executive and backed by Bill Gates's Breakthrough Energy Ventures and TPG, is developing iron-air batteries as a low-cost solution for long-duration energy storage. These batteries can store electricity for at least 100 hours, far longer than the four to six hours provided by large-scale lithium-ion packs. The use of iron, an abundant and cheap material, makes the batteries scalable without raw material limitations. Form Energy aims to compete with natural gas-powered generators that currently back up the power grid during periods of high demand. The company plans to deliver its iron-air modules to utility customers by 2025.
Form Energy, a company founded in 2017, is building a commercial-scale factory in West Virginia to produce iron-air batteries that can store energy for up to 100 hours at lower costs than lithium-ion batteries. The goal is to help supply renewable energy to the electrical grid 24/7 and reduce reliance on polluting energy sources. CEO Mateo Jaramillo believes that the right kinds of energy are a core part of achieving net-zero emissions, but it will take work across all industries that touch the power sector.
Form Energy, a company founded in 2017, is building a commercial-scale factory in West Virginia to produce iron-air batteries that can store energy for up to 100 hours at a lower cost than lithium-ion batteries. The company aims to help supply the US electrical grid with renewable energy 24/7 and reduce reliance on polluting energy sources. CEO Mateo Jaramillo believes that the right kinds of energy are a core part of achieving net-zero emissions, but it will take work across all industries that touch the power sector.
US Energy Secretary Jennifer Granholm attended the groundbreaking ceremony for Form Energy's $760 million industrial battery plant in Weirton, West Virginia, which is expected to create 750 jobs. The project is financed by millions of dollars of private investments and public dollars through the Inflation Reduction Act, which provides tax credits for clean energy factories built on former industrial sites and battery storage projects. Form Energy's iron-air battery technology operates through a "reversible rusting" process and is backed by investors like Bill Gates, Jeff Bezos, and Richard Branson. Granholm praised the project as consistent with President Biden's goal to deploy clean energy solutions across the country.