Company profile: Form Energy
1.1 - Company Overview
Company description
- Provider of low-cost, long-duration, grid-scale energy storage, featuring an Iron-Air Battery that stores wind and solar energy for up to 100 hours to make renewables dispatchable and support a stable electric grid. Services include battery design and engineering, full-scale validation and testing, pilot and commercial-scale manufacturing, and electrochemical battery performance R&D.
Products and services
- Commercial-Scale Battery Manufacturing: Builds a Weirton, WV facility, expected to open in 2024, to produce Form Energy’s batteries at commercial scale for electric grid applications
- Full-Scale Validation and Testing: Conducts full-scale validation and testing of battery systems to ensure performance for electric grid applications
- Iron-Air Battery: A grid-scale battery system that uses iron to store wind and solar energy up to 100 hours, delivering dispatchable power and supporting a stable electric grid
Key contacts
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Financial details
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1.2 - Competitors and similar companies to Form Energy
Kreisel Electric
HQ: Germany
Website
- Description: Provider of performance-oriented electric mobility solutions, offering certified lithium-ion battery systems for commercial, marine, off-highway, and motorsports applications; the CHIMERO DC high power charging solution with low grid connection; and integration of battery technology into John Deere off-highway equipment.
- Rationale: This competitor operates in a highly similar market segment with overlapping features.
- Company type: Private company
- Employees: ●●●●●
- Total funding raised: $●●●m
- Backers: ●●●●●●●●●●
- Acquisitions: ●●
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GasConTec
HQ: Germany
Website
- Description: Provider of technology development and project development in the gas conversion industry, offering engineering consulting, feasibility studies, licensing and permitting for hydrogen, ammonia and methanol production. Products include AdWinHydrogen, AdWinAmmonia, AdWinMethanol, AdWinCombined, plus low-carbon AdWinHydrogen CC and AdWinAmmonia CC using carbon capture.
- Rationale: This competitor operates in a highly similar market segment with overlapping features.
- Company type: Private company
- Employees: ●●●●●
- Total funding raised: $●●●m
- Backers: ●●●●●●●●●●
- Acquisitions: ●●
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Optimal Technologies
HQ: United States
Website
- Description: Provider of advanced technologies and solutions that help power utilities, businesses, and consumers optimize energy usage, supporting a more efficient, reliable, and environmentally responsible electric power grid end-to-end, including supply-side grid optimization and analysis.
- Rationale: This competitor operates in a highly similar market segment with overlapping features.
- Company type: Private company
- Employees: ●●●●●
- Total funding raised: $●●●m
- Backers: ●●●●●●●●●●
- Acquisitions: ●●
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Hillcrest Energy Technologies
HQ: Canada
Website
- Description: Provider of cleantech power conversion and control system solutions for next-generation powertrains and grid-connected power systems, leveraging proprietary Zero Voltage Switching (ZVS) technology. Offerings include an EV traction inverter to improve powertrain efficiency and performance, ZVS power modules, and soft-switching technology to enhance efficiency and reliability across electric systems.
- Rationale: This competitor operates in a highly similar market segment with overlapping features.
- Company type: Private company
- Employees: ●●●●●
- Total funding raised: $●●●m
- Backers: ●●●●●●●●●●
- Acquisitions: ●●
View full Hillcrest Energy Technologies company profile →
EnerVenue
HQ: United States
Website
- Description: Provider of metal-hydrogen batteries and modular energy storage for grid-scale and commercial & industrial applications. Offerings: Energy Storage Vessels (30,000+ cycles, enhanced safety); Energy Storage Vessel™ with wide operating temperatures and no fire suppression; Energy Rack solutions for 1000/1500 Vdc scaling to MWh with minimal integration costs; and Energy Venue, a turnkey solution optimizing space and reducing integration costs.
- Rationale: This competitor operates in a highly similar market segment with overlapping features.
- Company type: Private company
- Employees: ●●●●●
- Total funding raised: $●●●m
- Backers: ●●●●●●●●●●
- Acquisitions: ●●
View full EnerVenue company profile →
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2.M&A buyers
2.1 Potential strategic acquirers in the sector
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2.2 - Strategic buyer groups for Form Energy
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Buyer group 2: ████████ ████████
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Buyer group 3: ████████ ████████
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3. Investors and private equity firms
3.1 - Buyout funds investing in similar companies to Form Energy
2.2 - Growth funds investing in similar companies to Form Energy
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4 - Top valuation comps for Form Energy
4.2 - Public trading comparable groups for Form Energy
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