We are pleased to partner with Form Energy’s best-in-class team as the company scales to manufacture and broadly commercialize its breakthrough multi-day battery technology.”
“By introducing new storage solutions to the market, Form Energy can contribute to the energy transition process while also providing attractive risk-adjusted returns for the CPP Fund.”Īng Eng Seng, Chief Investment Officer of Infrastructure at GIC, said, “To meet the urgency of mitigating climate change, we must accelerate the deployment of new cost-effective technologies capable of fully decarbonizing the electric system, while maintaining grid reliability and resiliency. “The development of reliable, long duration energy storage technology is critical for the global transition to renewable energy,” said Leon Pedersen, Managing Director and Head of Growth Equity at CPP Investments.
Form energy series#
We are delighted to deepen our partnership with Mateo and the team as they position Form for its next phase of growth and innovation,” said Marc Mezvinsky, Partner at TPG, who is also joining Form Energy’s Board of Directors.Īlso joining the Series E round are GIC and Canada Pension Plan Investment Board (CPP Investments), along with existing investors ArcelorMittal, Breakthrough Energy Ventures (BEV), Capricorn Investment Group, Coatue, Energy Impact Partners (EIP), MIT’s The Engine, NGP ETP, Temasek, Prelude Ventures, and VamosVentures. The company is a leader in a market that is a critical part of the energy transition. “Form continues to demonstrate its ability to rapidly advance and scale long duration energy storage technology. TPG Rise is making the investment through TPG Rise Climate, its dedicated climate investing strategy, and The Rise Fund, its longstanding, multi-sector impact investing strategy. This financing includes amounts that are subject to regulatory approval and allocations to existing investors. Boston, MA – Octo– Form Energy, Inc., an American technology company developing and commercializing a new class of cost-effective, multi-day energy storage systems, announced today a $450 million Series E financing round led by TPG’s global impact investing platform, TPG Rise.
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