MIT’s energy storage technology producer had secured an initial $200m tranche last month, with existing backer The Engine contributing to the round.
Form Energy, a US-based developer of grid-scale energy storage systems spun out of Massachusetts Institute of Technology (MIT), completed a $240m series D round on Tuesday backed by MIT-affiliated venture fund The Engine.
Steel producer ArcelorMittal led the round through its XCarb fund, while Perry Creek Capital, NGP Energy Technology Partners, Coatue, Temasek, Energy Impact Partners, Breakthrough Energy Ventures (BEV), Prelude Ventures, Capricorn Investment Group, Macquarie Capital, TPG Rise Climate, Rise Fund and energy utility Eni’s Next fund also…
