Puget Sound Energy, an electric and gas utility serving 1.2 million customers in Washington State, has entered into a memorandum of understanding (MoU) with Form Energy, the US startup known for its iron-air battery technology. The agreement signals the potential development of a joint pilot project, featuring a 10MW system with a remarkable 1,000MWh capacity, equivalent to a 100-hour duration.
Form Energy's innovative battery tech relies on iron and air, employing a process where iron rusts (oxidizes) during charging and de-rusts during discharge. Led by CEO Mateo Jaramillo, a former executive at Tesla, Form Energy gained attention with its first utility pilot project agreement in 2020, involving a 1MW/150MWh system with Minnesota's Great River Energy.
Puget Sound Energy, considering a pilot project deployment in its service area, sees Form Energy's system as a strategic move to meet clean energy requirements outlined in Washington State laws. The Clean Energy Transformation Act mandates retiring all utility coal generation by 2025 and achieving carbon neutrality by 2030.
The utility's interest in Form Energy's technology is part of a broader trend where US utilities, facing coal retirements, seek alternatives for both electricity generation capacity and economic benefits. Form Energy, having raised around US$800 million in investment, is constructing its first battery factory in West Virginia.
The MoU with Puget Sound Energy adds to Form Energy's growing list of partnerships, showcasing the industry's confidence in the potential of long-duration energy storage solutions. Washington's ambitious clean energy goals align with Form Energy's mission, positioning the startup as a key player in the transition to renewable and sustainable energy practices.
Puget Sound Energy, an electric and gas utility serving 1.2 million customers in Washington State, has entered into a memorandum of understanding (MoU) with Form Energy, the US startup known for its iron-air battery technology. The agreement signals the potential development of a joint pilot project, featuring a 10MW system with a remarkable 1,000MWh capacity, equivalent to a 100-hour duration.
Form Energy's innovative battery tech relies on iron and air, employing a process where iron rusts (oxidizes) during charging and de-rusts during discharge. Led by CEO Mateo Jaramillo, a former executive at Tesla, Form Energy gained attention with its first utility pilot project agreement in 2020, involving a 1MW/150MWh system with Minnesota's Great River Energy.
Puget Sound Energy, considering a pilot project deployment in its service area, sees Form Energy's system as a strategic move to meet clean energy requirements outlined in Washington State laws. The Clean Energy Transformation Act mandates retiring all utility coal generation by 2025 and achieving carbon neutrality by 2030.
The utility's interest in Form Energy's technology is part of a broader trend where US utilities, facing coal retirements, seek alternatives for both electricity generation capacity and economic benefits. Form Energy, having raised around US$800 million in investment, is constructing its first battery factory in West Virginia.
The MoU with Puget Sound Energy adds to Form Energy's growing list of partnerships, showcasing the industry's confidence in the potential of long-duration energy storage solutions. Washington's ambitious clean energy goals align with Form Energy's mission, positioning the startup as a key player in the transition to renewable and sustainable energy practices.
