ArcelorMittal led a series D round for the rechargeable battery developer spun out of MIT.
Form Energy, a US-based grid-scale battery developer spun out of Massachusetts Institute of Technology (MIT), secured $200m yesterday in a series D round led by $25m from steel manufacturer ArcelorMittal’s XCarb innovation fund.
Founded in 2017 as Baseload Renewables, Form Energy develops low-cost battery systems that can store wind and solar energy from renewable energy systems for a long duration.
The company has produced a rechargeable iron-air battery capable of delivering electricity for 100 hours at costs competitive…
