Google Invests $1B in Form Energy for 100-Hour Battery

Google has made a significant investment in Form Energy, a startup that has developed a massive 100-hour battery. The deal, worth $1 billion, paves the way for Form Energy to raise a new funding round before potentially going public next year.

According to TechCrunch, the investment is a major vote of confidence in Form Energy's technology, which has the potential to revolutionize the way we store energy. The 100-hour battery is a significant improvement over traditional batteries, which typically last for several hours.

The investment is also a strategic move by Google, which is looking to expand its presence in the energy sector. The company has been investing heavily in clean energy and has set ambitious targets to reduce its carbon footprint.

Form Energy's technology has the potential to be used in a variety of applications, including grid-scale energy storage, renewable energy systems, and even electric vehicles. The company's CEO, Mateo Jaramillo, has stated that the investment will be used to scale up production and bring the technology to market.

The deal is a significant milestone for Form Energy, which has been working on the technology for several years. The company has already demonstrated the effectiveness of its battery in a number of tests, and the investment is expected to help it bring the technology to market more quickly.

The investment is also a testament to the growing importance of clean energy and the need for innovative solutions to reduce our reliance on fossil fuels. As the world continues to transition to renewable energy sources, the demand for energy storage solutions is expected to increase significantly.

Sources

[1] Google paid startup Form Energy $1B for its massive 100-hour battery