Secretive US start-up Form Energy finally reveals the chemistry of its revolutionary long-duration battery — which it says will store energy at one

World's cheapest energy storage will be an iron-air battery, says Jeff Bezos-backed start-up

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2021-07-24 21:30:04

Secretive US start-up Form Energy finally reveals the chemistry of its revolutionary long-duration battery — which it says will store energy at one tenth the cost of lithium-ion

Form Energy, the billionaire-backed start-up that claimed to have developed an innovative low-cost 150-hour battery, has finally revealed its battery chemistry after more than a year of high-profile secrecy.

The Boston-based company says its first commercial product is a “rechargeable iron-air battery capable of delivering electricity for 100 hours at system costs competitive with conventional power plants and at less than 1/10th the cost of lithium-ion”.

A cheap, safe battery able to store energy for long periods of time is the holy grail of the renewable energy sector, as it would be capable of removing the issue of wind and solar’s variability at a low cost.

With French financial advisers Lazard putting the levelised cost of storage (LCOS) of large-scale lithium-ion batteries at $132-245/MWh in its industry-standard annual report, Form’s battery — at a tenth of that cost — would be the cheapest type of energy storage available by some distance.

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