Trinity Capital, a provider of diversified financial solutions to growth-oriented companies, committed $50 million in equipment financing to Form Energy, an American technology company developing and commercializing a class of energy storage systems.
“Form Energy’s groundbreaking iron-air battery technology has the potential to redefine the future of energy storage,” Cory Cramer, director, equipment finance at Trinity Capital, said. “We’re excited to partner with the company as they scale their operations and accelerate the pathway to a clean and reliable electric grid.”
This financing comes on the heels of Form Energy’s $455 million series F fundraise led by T. Rowe Price. The equipment financing will be used to finance capital equipment for the company’s first high volume battery manufacturing facility located in Weirton, West Virginia.
“We are thrilled to have Trinity’s support as we grow our business and increase manufacturing capacity to meet the growing demand for our multi-day energy storage system,” Charlotte Beard, chief financial officer of Form Energy, said.
