Google Pays $1B for Form Energy’s 100-Hour Battery

Google has secured a landmark $1 billion deal with energy startup Form Energy to deploy a groundbreaking 100-hour iron-air battery system designed to back up its renewable energy grid.

The massive price tag for this advanced electrochemical engineering feat was recently revealed, according to a report by The Information. This agreement marks a major milestone for the clean energy sector as tech giants race to secure reliable, long-duration storage.

Scaling Renewable Energy with Iron-Air Technology

Form Energy’s proprietary iron-air battery technology is engineered to deliver a continuous 300 megawatts of electricity for up to 100 hours. The system operates through a unique “breathing” process, where oxygen pumped into the battery cells deliberately rusts iron to release electrons. This massive storage capacity will be used to stabilize and smooth the power supply generated by 1.4 gigawatts of wind energy and 200 megawatts of solar power.

From West Virginia Factory to Wall Street

A Breakthrough Customer for Form Energy

While the startup has spent years developing and refining this technology at its manufacturing facility in West Virginia, Google represents its first major commercial customer. Landing this high-profile contract validates the company’s long-term strategy in the competitive long-duration energy storage market.

Funding and Future IPO Plans

Backed by this landmark order, Form Energy CEO Mateo Jaramillo announced that the company is currently raising a new $500 million funding round. According to data from PitchBook, the startup has already raised $1.4 billion to date. Looking ahead, Form Energy plans to launch an initial public offering (IPO) next year to further fuel its expansion.