Battery storage systems part of plan to add renewable energy and help ensure reliability for Georgians
Boston, MA – June 12, 2023 – Form Energy Inc. announced today that it is continuing under a definitive agreement with Georgia Power, the largest electric subsidiary of Southern Company (NYSE: SO), to deploy a 15 megawatt /1500 megawatt-hour iron-air battery system in Georgia, as part of the utility’s plan to integrate additional cost-effective clean energy into its system while maintaining grid reliability and resiliency. The battery system is expected to come online as early as 2026 and is subject to regulatory approvals.
“As we continue to build Georgia’s clean energy future, battery storage systems play a vital role in how we will continue to serve our customers with clean, reliable energy for decades to come. That’s why partnerships with innovators like Form Energy are so important to our long-term strategy,” said Kim Greene, Georgia Power Chairman, President and CEO. “Our customers, including many business and commercial accounts, are increasingly interested in the use of new technologies such as multi-day energy storage to help grow renewable energy and enhance reliability, especially as they relocate or grow their operations in Georgia. Form Energy’s technology is cutting edge and we’re excited to continue to work with them to serve our customers.”
Integrating battery energy storage systems into the power grid requires extensive planning and analysis. Form Energy and Georgia Power continue to collaborate to fully evaluate and demonstrate that the 100-hour iron-air battery technology will strengthen Georgia’s electric grid against normal day-to-day, week-to-week, and season-to-season weather variability, in addition to extreme weather events. This analysis includes modeling by Georgia Power, as well as input from Formware™, Form Energy’s next-generation investment and operational modeling tool for power grids.
Mateo Jaramillo, CEO and Co-founder of Form Energy, added, “We have a long-standing relationship with Southern Company and Georgia Power, who continue to provide transformational leadership that will usher in an era of products to cost effectively provide safe, reliable energy to their customers. We are pleased to strengthen our relationship through this partnership with Georgia Power and look forward to delivering an innovative multi-day energy storage system that will provide grid reliability and resiliency in their service territory for years to come.”
Georgia Power provides electricity to 2.7 million customers in all but four of Georgia’s 159 counties. The company is committed to delivering clean, safe, reliable and affordable energy for every customer, and works with the Georgia Public Service Commission (PSC) to ensure it can meet Georgia’s future energy needs. In 2022, the Georgia PSC approved the company’s long-term energy plan, the Integrated Resource Plan (IRP), which included Georgia Power’s largest single battery energy storage system (BESS) project to date – the 265 MW lithium-ion McGrau Ford Battery facility located in Cherokee County, as well as an additional 500 MW of battery storage. Other Georgia Power BESS projects underway include a 65 MW project in Talbot County (Mossy Branch) and a 13 MW project with the US Army at Fort Stewart near Savannah.
About Form Energy
Form Energy is an American technology company developing and commercializing a new class of cost-effective, multi-day energy storage systems. 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 and secure grid year-round. To learn more about Form Energy, please visit www.FormEnergy.com.
About Georgia Power
Georgia Power is the largest electric subsidiary of Southern Company (NYSE: SO), America’s premier energy company. Value, Reliability, Customer Service and Stewardship are the cornerstones of the company’s promise to 2.7 million customers in all but four of Georgia’s 159 counties. Committed to delivering clean, safe, reliable and affordable energy, Georgia Power maintains a diverse, innovative generation mix that includes nuclear, coal and natural gas, as well as renewables such as solar, hydroelectric and wind. Georgia Power focuses on delivering world-class service to its customers every day and the company is recognized by J.D. Power as an industry leader in customer satisfaction. For more information, visit and connect with the company on Facebook (Facebook.com/GeorgiaPower) and Twitter (Twitter.com/GeorgiaPower).
Cautionary Note Regarding Forward-Looking Statements
Certain information contained in this release is forward-looking information based on current expectations and plans that involve risks and uncertainties. Forward-looking information includes, among other things, statements concerning the expected completion of battery energy storage projects. Georgia Power cautions that there are certain factors that can cause actual results to differ materially from the forward-looking information that has been provided. The reader is cautioned not to put undue reliance on this forward-looking information, which is not a guarantee of future performance and is subject to a number of uncertainties and other factors, many of which are outside the control of Georgia Power; accordingly, there can be no assurance that such suggested results will be realized. The following factors, in addition to those discussed in Georgia Power’s Annual Report on Form 10-K for the year ended December 31, 2022, and subsequent securities filings, could cause actual results to differ materially from management expectations as suggested by such forward-looking information: the ability to obtain required regulatory approvals and to control costs and avoid cost and schedule overruns during the development, construction, and operation of facilities or other projects; the ability to construct facilities in accordance with the requirements of permits and licenses and to integrate facilities into the Southern Company system upon completion of construction; and catastrophic events such as fires, earthquakes, explosions, floods, tornadoes, hurricanes and other storms, droughts, pandemic health events, political unrest, wars or other similar occurrences. Georgia Power expressly disclaims any obligation to update any forward–looking information.