MIT grid battery spinout Form Energy has secured capital from investors including The Engine and Eni to bring its funding haul to nearly $50m.
Form Energy, a US-based energy storage technology spinout of Massachusetts Institute of Technology (MIT), completed a $40m series B round backed by the university’s affiliate venture fund The Engine on Friday.
Eni Next, the corporate venturing arm of energy supplier Eni, led the round with participation from cleantech-focused VC fund Breakthrough Energy Ventures, Capricorn Investment Group, Prelude Ventures and Macquarie Capital.
Founded in 2017 as Baseload Renewables, Form Energy is developing lithium-sulphur batteries that can be used as…
