Storage

Form Energy starts work on its iron-air battery plant

Form Energy starts work on its iron-air battery plant
Groundbreaking for Form Energy's iron-air battery manufacturing facility.Pictured left to right: Secretary Mitch Carmichael, West Virginia Department of Economic Development Secretary; Mateo Jaramillo, CEO and Co-Founder of Form Energy; Secretary Jennifer Granholm, U.S. Department of Energy Secretary; Senator Joe Manchin, (D-WV); Dot Gilliam, Equipment Maintenance Technician, Form Energy; Ted Wiley, President & COO of Form Energy. Credit: Form Energy

Form Energy started construction of its first iron-air battery manufacturing facility in Weirton, West Virginia. 

When fully operational in mid- to late-2024, Form Factory 1 is expected to have an annual production capacity of 500 MW of iron-air batteries.

 U.S. Senator Joe Manchin (D-WV) was on hand for the groundbreaking, and said the factory was a “direct result of the Inflation Reduction Act.” He said the investment, in a community that “has felt the impact of the downturn in American manufacturing,” is an example of the “IRA bill working as we intended.” 

The facility represents a direct investment of up to $760 million, with a financial incentive package from the State of West Virginia worth around $290 million in asset-based, performance financing.

Form Energy’s web site said it technology is designed to store electricity for 100 hours at system costs competitive with legacy power plants.

The basic operating principle is what is known as reversible rusting. While discharging stored energy, the battery “breathes in” oxygen and converts iron metal to rust. While charging, an electrical current converts the rust back to iron and the battery “breathes out” oxygen. The battery includes a slab of iron, a water-based electrolyte and a membrane that feeds a controlled stream of air into the battery.

Since its founding in 2017, the company has raised more than $830 million from investors, including Bill Gates’ Breakthrough Energy Ventures and steel company ArcelorMittal SA.

In January, Xcel Energy entered into an agreement with Form Energy to deploy iron-air battery systems at two of the utility’s retiring coal plants.

Xcel agreed to deploy a 10 MW / 1,000 MWh multi-day storage system at the Sherburne County Generating Station in Becker, Minnesota. Xcel Energy–Colorado will deploy a 10 MW / 1,000 MWh multi-day storage system at the Comanche Generating Station in Pueblo, Colorado. Both projects are expected to come online as early as 2025 and are subject to regulatory approvals.

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