Form Energy was founded in 2017 by Marco Ferrara, Mateo Jaramillo, Ted Wiley, William Woodford, and Yet-Ming Chiang. According to the Sierra Sun Times in January 2024 “The California Energy Commission (CEC) in December approved a $30 million grant to Form Energy to build a long-duration energy storage,” they reported. Form Energy has not publicly endorsed a plan to participate in an IPO.
Form Energy is an energy storage developer that enables decarbonization for company electric systems. Per Forge data, Form Energy has raised $965.8 million in funding over 10 rounds. Their latest funding was raised on Dec 13, 2023, from a Grant round. Key investors include the California Energy Commission, NYSERDA, and The Rise Fund.
These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.
Funding Date | Share Class | Amount Raised | Price per Share | Post-Money Valuation | Key Investors | |
---|---|---|---|---|---|---|
10/09/2024 | Series F | $405MM | $xx.xx | $3.42B | Blindspot Ventures, Breakthrough Energy Ventures, Capricorn Investment Group, Claure Group, Coatue, Energy Impact Partners, Engine Ventures, GE Vernova, Gic, Gigascale Capital, Ngp Energy Technology Partners, Prelude Ventures, Temasek, Tpg Rise Climate Fund, T. Rowe Price Associates, Vamosventures | |
Price per Share
$xx.xx
Shares Outstanding
16,746,679
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Blindspot Ventures, Breakthrough Energy Ventures, Capricorn Investment Group, Claure Group, Coatue, Energy Impact Partners, Engine Ventures, GE Vernova, Gic, Gigascale Capital, Ngp Energy Technology Partners, Prelude Ventures, Temasek, Tpg Rise Climate Fund, T. Rowe Price Associates, Vamosventures
|
||||||
10/04/2022 | Series E | $455MM | $xx.xx | $1.84B | Arcelormittal, Breakthrough Energy Ventures, Canada Pension Plan Investment Board, Capricorn Investment Group, Coatue, Energy Impact Partners, Gic, Ngp Energy Technology Partners, Prelude Ventures, Temasek, The Engine, Vamosventures | |
Price per Share
$xx.xx
Shares Outstanding
24,761,078
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Arcelormittal, Breakthrough Energy Ventures, Canada Pension Plan Investment Board, Capricorn Investment Group, Coatue, Energy Impact Partners, Gic, Ngp Energy Technology Partners, Prelude Ventures, Temasek, The Engine, Vamosventures
|
||||||
08/25/2021 | Series D | $252.5MM | $xx.xx | $1.28B | Arcelormittal | |
Price per Share
$xx.xx
Shares Outstanding
13,948,877
Liquidation Pref Order
2
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Arcelormittal
|
||||||
11/13/2020 | Series C | $82.9MM | $xx.xx | $338.71MM | Breakthrough Energy Ventures, Capricorn Investment Group, Coatue, Energy Impact Partners, Eni Next, Macquarie Asset Management, Ngp Energy Technology Partners, Prelude Ventures, Temasek | |
Price per Share
$xx.xx
Shares Outstanding
13,086,639
Liquidation Pref Order
2
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Breakthrough Energy Ventures, Capricorn Investment Group, Coatue, Energy Impact Partners, Eni Next, Macquarie Asset Management, Ngp Energy Technology Partners, Prelude Ventures, Temasek
|
||||||
08/23/2019 | Series B | $40.17MM | $xx.xx | $111.81MM | Breakthrough Energy Ventures, Capricorn Investment Group, Engine Ventures, Eni Next, Macquarie Asset Management, Prelude Ventures | |
Price per Share
$xx.xx
Shares Outstanding
12,972,516
Liquidation Pref Order
2
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Breakthrough Energy Ventures, Capricorn Investment Group, Engine Ventures, Eni Next, Macquarie Asset Management, Prelude Ventures
|
||||||
06/18/2018 | Series A | $10.96MM | $xx.xx | $31.31MM | Blindspot Ventures, Breakthrough Energy Ventures, Engine Ventures, Prelude Ventures | |
Price per Share
$xx.xx
Shares Outstanding
8,695,444
Liquidation Pref Order
2
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Blindspot Ventures, Breakthrough Energy Ventures, Engine Ventures, Prelude Ventures
|