U.S. battery manufacturers Form Energy and Antora have raised combined funding of $1.3 billion to scale long-duration energy storage production [1].
This investment addresses a critical gap in the power grid by enabling the storage of renewable energy for days rather than hours. As the world shifts toward wind and solar power, the ability to maintain a steady electricity supply during periods of low generation is essential for grid stability.
Form Energy secured $750 million in its latest funding round [1]. The company specializes in iron-based batteries, which provide a low-cost alternative to lithium-ion technology. These specific batteries are designed to hold power for over 100 hours [1]—a duration that allows utilities to manage multi-day weather events that disrupt solar and wind output.
Simultaneously, Antora raised $550 million to advance its thermal energy storage technology [1]. Antora utilizes carbon-block batteries to store energy as heat, which can then be converted back into electricity or used for industrial processes [1, 2].
Both companies are based in the U.S. and are targeting the industrial and utility sectors [1]. The surge in funding reflects a broader trend in the energy market to move beyond short-term storage. While traditional batteries often discharge in four hours or less, these new technologies aim to bridge the gap during seasonal or weekly fluctuations in energy production [1, 2].
The funding will be used to increase production capacity and build out the infrastructure necessary to deploy these systems at scale [1]. By reducing the reliance on fossil-fuel peaking plants, these long-duration solutions aim to integrate a higher percentage of renewables into the national energy mix [1, 2].
“Form Energy secured $750 million in its latest funding round.”
The massive capital injection into iron and carbon-based storage signals a pivot in the energy sector toward 'long-duration' solutions. While lithium-ion batteries dominate the electric vehicle market and short-term grid support, they are too expensive for multi-day storage. By scaling technologies that can hold power for 100 hours or more, the U.S. energy grid can potentially eliminate the need for natural gas plants that currently fill the gaps when renewable generation drops for extended periods.
