Iron-Air Battery Manufacturing Funds
Form Energy Has Raised $750 Million to Scale Manufacturing
Adam Harrie — August 14, 2026
Form Energy closed a $750 million Series G round led by T. Rowe Price, bringing total equity raised to over $2 billion to accelerate manufacturing of its Form Energy iron-air battery systems in Weirton, West Virginia. New investors including Sequoia Capital and Franklin Templeton joined existing backers like Breakthrough Energy Ventures and GE Vernova, with Morgan Stanley serving as exclusive placement agent.
The funding follows Form Energy's backlog growing from approximately 20 gigawatt-hours to 80 gigawatt-hours this year, driven by new commercial agreements with Xcel Energy, Google, Crusoe, and FuturEnergy Ireland for its multi-day energy storage technology. The company also strengthened its leadership team, appointing former SoftBank executive Navneet Govil as CFO and former Panasonic Energy executive Wes Sloan as COO to support its manufacturing scale-up.
Form Energy's rapid funding and backlog growth signal strong market confidence in multi-day iron-air technology as a critical piece of future grid reliability.
