Energy Co. Completes $40M Round For 100% Renewable Grid

Law360 (August 23, 2019, 4:08 PM EDT) -- Massachusets-based Form Energy Inc. said it completed a $40 million Series B financing round that will allow it to develop a prototype of its 100% renewable energy grid.

The corporate venture capital vehicle of Eni Group, Eni Next LLC, led the round and was joined by repeat investors Breakthrough Energy Ventures, Prelude Ventures, MIT's The Engine and Macquarie Capital. New investor Capricorn Investment Group also participated in the round.

The company said in a press release made public Friday that the funds will be used to create a trial model of its "ultra-low-cost, long-duration" renewable energy battery system. On its website,...

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