Earlier this week, Google revealed plans to construct a new data center in Minnesota, powered by a combination of wind, solar energy, and a distinctive battery from startup Form Energy, which can discharge for extended periods. The project is estimated to cost around $1 billion, as reported by The Information.
Form Energy’s large-scale iron-air battery can provide 300 megawatts of continuous electricity for 100 hours by utilizing a process akin to breathing; oxygen introduced to the cells causes iron to rust, releasing electrons. The battery will manage the electricity flow from 1.4 gigawatts of wind power and 200 megawatts of solar power.
The startup has been developing this technology for several years and has established a factory in West Virginia to manufacture the batteries, yet they had not secured a significant client until this recent arrangement with Google.
After securing this substantial order, Form Energy CEO Mateo Jaramillo mentioned that the company is in the midst of raising a $500 million funding round. Form has amassed $1.4 billion in funding thus far, according to PitchBook, and intends to go public next year.