Form’s iron air energy storage technology optimized for longer duration storage provides flexibility and supports renewable energy growth for Georgia Power
Boston, MA – February 9, 2022 – Form Energy, a technology company rising to the challenge of climate change by developing a new class of cost-effective, multi-day energy storage systems, is pleased to announce a new collaboration with Georgia Power, the largest electric subsidiary of Southern Company (NYSE: SO). Form Energy is currently working with Georgia Power to identify an optimal project application of up to 15 megawatts/1500 megawatt hours (MW/MWh) of energy storage systems to be located in the utility’s service area. The utilization of Form Energy’s multi-day energy storage technology is a part of Georgia Power’s commitment to the research and deployment of new technology to help deliver reliable service for its customers, while transforming its energy mix with large amounts of new renewable energy and fossil fuel retirements in the coming years.
Form Energy’s first announced commercial product is a rechargeable iron-air battery capable of delivering electricity for 100 hours at system costs competitive with conventional power plants and at less than 1/10th the cost of lithium-ion. Made from iron, one of the safest, cheapest, and most abundant minerals on Earth, this front-of-the-meter battery can be used continuously over a multi-day period and will enable a reliable, secure, and fully renewable electric grid year-round.
Mateo Jaramillo, CEO and Co-founder of Form Energy said, “We’re very pleased to work with Georgia Power on this important project and to provide a technology solution that will accelerate the transition to a reliable, renewable and affordable electric grid. This collaboration is a testament to Georgia Power’s commitment to innovation and economic solutions that are in the best interest of their customers.”
“At Georgia Power, we know that we must make smart investments and embrace new technologies now to continue to prepare for our state’s future energy landscape,” said Chris Womack, chairman, President and CEO of Georgia Power. “As we continue to grow our renewable portfolio, we believe that energy storage solutions will play an important role in ensuring our customers continue to have a reliable and resilient electric grid for decades to come. We’re excited to have Form Energy as a partner to help us build on Georgia’s solid energy foundation.”
Georgia Power provides electricity to 2.7 million customers in all but four of Georgia’s 159 counties. The company recently filed its detailed Integrated Resource Plan with state regulators, which highlights how it plans to meet the state’s energy needs over the next 20 years. Energy storage projects such as this initiative with Form Energy are a key component of the company’s plan to increase renewable resources while continuing to provide clean, safe, reliable, and affordable energy for customers.
To learn more about Form Energy, please visit www.FormEnergy.com.