# Form Energy

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/form-energy

- Industry: Energy Storage & Batteries
- Headquarters: Weirton, US
- Website: www.formenergy.com/
- Total disclosed funding: $1.8B
- Latest round: Series G (Jul 31, 2026)
- Investors on record: 29

## About

Founded in 2017 and based in Somerville, MA, Form Energy, Inc. is developing iron-air battery storage system for renewable energy projects. Co-founded by Mateo Jaramillo, William Woodford (CTO), Ted Wiley, Billy Woodford, Yet-Ming Chiang, and Marco Ferrara, with Mateo Jaramillo being the CEO. Form Energy, Inc. has raised USD 1.13 billion across 10 rounds of funding. In May 2020, Form Energy, Inc. signed a deal with Minnesota-based utility Great River Energy to jointly build a 1MW / 150MWh trial project in Cambridge, MN.  In September 2026, Form Energy, Inc. raised USD 270 million in venture debt funding led by Barclays Bank, with participation from Citigroup, Wells Fargo Bank, Stifel Financial Corp., Société Générale Group, RBC Capital Markets, Jefferies, and JPMorgan Chase. The first commercial product of the firm was a rechargeable iron-air battery capable of storing electricity for 100 hours at system costs comparable to legacy power plants. FormwareTM is the company's next-generation power grid investment and operating paradigm. It can optimize across multi-year, hourly resolution data sets to capture real-world weather variability, leading to more dependable and cost-effective designs for renewable-powered power systems. The company generates revenue through sales and commercial deployment of iron-air battery systems. The company will use the September 2026 funding to support manufacturing scale-up and working capital needs at its Form Factory 1 in Weirton, West Virginia, where it produces iron-air battery systems.

## Funding rounds

- Series G, Jul 31, 2026, $750M — Sequoia, T Rowe Price, TPG, NGP, Capricorn Investment Group, Janus Henderson, GE Energy Financial Services, Coatue Management, PEAK6 Investments, M&G, Franklin Templeton, Prelude Ventures, Energy Impact Partners, Breakthrough Energy Ventures, Engine Ventures, Blindspot Ventures, Gigascale Capital
- Series F, Oct 9, 2024, $405M — TPG, Temasek Holdings, GIC, NGP, Capricorn Investment Group, GE Energy Financial Services, Coatue Management, Prelude Ventures, Energy Impact Partners, Breakthrough Energy Ventures, Engine Ventures, VamosVentures, T Rowe Price Advisory Services, Blindspot Ventures, Gigascale Capital, Claure Group
- Series E, Sep 19, 2022, $335M — TPG, Temasek Holdings, GIC, NGP, Capricorn Investment Group, CPP Investment Board, Prelude Ventures, ArcelorMittal SA, Coatue Management, Energy Impact Partners, Breakthrough Energy Ventures, Engine Ventures, VamosVentures
- Series D, Jul 21, 2021, $155M — TPG, Temasek Holdings, NGP, Capricorn Investment Group, Macquarie Capital, Prelude Ventures, ArcelorMittal SA, Coatue Management, Perry Creek Capital, Energy Impact Partners, Breakthrough Energy Ventures, Engine Ventures, Eni Next
- Series C, Mar 30, 2021, $24M — NGP, Capricorn Investment Group, Prelude Ventures, Temasek Holdings, Coatue Management, Macquarie Group, Energy Impact Partners, Breakthrough Energy Ventures, Engine Ventures, Eni Next
- Series C, Aug 28, 2020, $52M — NGP, Capricorn Investment Group, Prelude Ventures, Temasek Holdings, Coatue Management, Macquarie Group, Energy Impact Partners, Breakthrough Energy Ventures, Engine Ventures, Eni Next
- Series B, Aug 7, 2019, $40M — Capricorn Investment Group, Macquarie Capital, Prelude Ventures, Breakthrough Energy Ventures, Engine Ventures, Eni Next
- Series A, Feb 2, 2018, $9M — Macquarie Capital, Prelude Ventures, Saudi Aramco, Breakthrough Energy Ventures, Engine Ventures
- Seed, Aug 28, 2017, $2M — Engine Ventures

## Investors

- Engine Ventures (https://capitalatlas.ai/funds/engine-ventures) — Seed, Series A, Series B, Series C, Series D, Series E, Series F, Series G
- Macquarie Capital — Series A, Series B, Series D
- Prelude Ventures — Series A, Series B, Series C, Series D, Series E, Series F, Series G
- Saudi Aramco — Series A
- Breakthrough Energy Ventures (https://capitalatlas.ai/funds/breakthrough-energy-ventures) — Series A, Series B, Series C, Series D, Series E, Series F, Series G
- Capricorn Investment Group (https://capitalatlas.ai/funds/capricorn-investment-group) — Series B, Series C, Series D, Series E, Series F, Series G
- Eni Next (https://capitalatlas.ai/funds/eni-next) — Series B, Series C, Series D
- NGP (https://capitalatlas.ai/funds/ngp) — Series C, Series D, Series E, Series F, Series G
- Temasek Holdings — Series C, Series D, Series E, Series F
- Coatue Management (https://capitalatlas.ai/funds/coatue-management) — Series C, Series D, Series E, Series F, Series G
- Macquarie Group (https://capitalatlas.ai/funds/macquarie-group) — Series C
- Energy Impact Partners (https://capitalatlas.ai/funds/energy-impact-partners) — Series C, Series D, Series E, Series F, Series G
- TPG (https://capitalatlas.ai/funds/tpg) — Series D, Series E, Series F, Series G
- ArcelorMittal SA — Series D, Series E
- Perry Creek Capital (https://capitalatlas.ai/funds/perry-creek-capital) — Series D
- GIC — Series E, Series F
- CPP Investment Board — Series E
- VamosVentures (https://capitalatlas.ai/funds/vamosventures) — Series E, Series F
- GE Energy Financial Services (https://capitalatlas.ai/funds/ge-energy-financial-services) — Series F, Series G
- T Rowe Price Advisory Services — Series F
- Blindspot Ventures (https://capitalatlas.ai/funds/blindspot-ventures) — Series F, Series G
- Gigascale Capital (https://capitalatlas.ai/funds/gigascale-capital) — Series F, Series G
- Claure Group (https://capitalatlas.ai/funds/claure-group) — Series F
- Sequoia (https://capitalatlas.ai/funds/sequoia) — Series G
- T Rowe Price (https://capitalatlas.ai/funds/t-rowe-price) — Series G
- Janus Henderson (https://capitalatlas.ai/funds/janus-henderson) — Series G
- PEAK6 Investments (https://capitalatlas.ai/funds/peak6-investments) — Series G
- M&G (https://capitalatlas.ai/funds/m-g) — Series G
- Franklin Templeton (https://capitalatlas.ai/funds/franklin-templeton) — Series G