Form Energy, an American technology company developing and commercializing a new class of cost-effective, multi-day energy storage systems, announced a $450 million Series E financing round led by TPG’s global impact investing platform, TPG Rise. This financing includes amounts that are subject to regulatory approval and allocations to existing investors.
TPG Rise is making the investment through TPG Rise Climate, its dedicated climate investing strategy, and The Rise Fund, its longstanding, multi-sector impact investing strategy.
Also joining the Series E round are Singapore’s GIC and the Canada Pension Plan Investment Board, along with existing investors ArcelorMittal, Breakthrough Energy Ventures, Capricorn Investment Group, Coatue, Energy Impact Partners, MIT’s The Engine, NGP ETP, Temasek, Prelude Ventures and Vamos Ventures.
“The development of reliable, long-duration energy storage technology is critical for the global transition to renewable ener