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Form Energy closes $40M funding for long-duration storage systems

Aug 27, 2019 - SNL Energy Finance Daily

U.S. startup Form Energy closed a $40 million series B financing round led by Eni Next LLC.

The funds will be used to develop engineering prototypes and a megawatt-scale commercial pilot of long-duration energy storage systems, according to an Aug. 22 news release. Form Energy develops long-duration storage systems, incorporating ultralow cost.

Capricorn Investment Group, Prelude Ventures, MIT's The Engine, Macquarie Capital and Breakthrough Energy Ventures also participated in the r...