Trinity Capital Commits $50M to Form Energy's Revolutionary Iron-Air Battery Manufacturing
Summary
The company is pioneering an iron-air battery capable of storing electricity for 100 hours at system costs competitive with legacy power plants. "We are thrilled to have Trinitys support as we grow our business and increase manufacturing capacity to meet the growing demand for our multi-day energy storage system," said Charlotte Beard, CFO of Form Energy.Trinity Capital Inc. (Nasdaq: TRIN), an internally managed business development company, is a leading provider of diversified financial solutions to growth-stage companies with institutional equity investors. Trinity Capital believes it is one of only a select group of specialty lenders that has the depth of knowledge, experience and track record in lending to growth stage companies. Form Energys first announced commercial product is a rechargeable iron-air battery capable of delivering electricity for 100 hours at system costs competitive with conventional power plants. Made from iron, one of the safest, cheapest, and most abundant minerals on Earth, this front-of-the-meter battery can be used continuously over a multi-day period and will enable a reliable and secure grid year-round.