The Eni and Saudi Aramco-backed energy storage technology developer has raised series C financing to push its total funding past the $120m mark.
Form Energy, a US-based grid-scale battery developer backed by corporates Saudi Aramco and Eni, has raised more than $70m of series C funding from undisclosed investors, Reuters reported on Friday.
Founded in 2017, Form Energy is developing sulphur-based battery storage systems for renewable forms of electricity such as wind and solar that fluctuate more than conventional power plants due to changes in weather.
The aqueous air batteries are designed to store energy for up to 150 hours, according to Form…
