Form Energy Raises Final Steel Beam at Form Factory 1

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Progressing Rapidly to Begin High-Volume Manufacturing of its Iron-air Batteries in Weirton, WV

Weirton, WV – February 8, 2024 – Today, Form Energy, Inc., an American technology company developing and commercializing a new class of cost-effective, multi-day energy storage systems, held a ceremony to celebrate raising the final steel beam at Form Factory 1, the company’s first high-volume manufacturing facility. Located in Weirton, West Virginia, Form Factory 1 will employ at least 750 people when operating at full capacity. Form Energy was joined by local officials, as well as more than100 local workers and tradespeople who were on site for the exciting milestone.

 

Form Factory 1 in Weirton, West Virginia

Form Energy commenced construction on Form Factory 1 in May of 2023 and raised the first beam six months ago. Currently, over 90% of the building’s steel is erected, more than 90% of underground utilities are installed, all critical areas of concrete slab are poured in, and significant progress has been made on the interiors and exteriors of the building. Form Energy will have the walls completely dried in by March and will start landing equipment later in February in locations where the building is already finished to begin manufacturing and assembling its iron-air battery systems at the Weirton factory for broad commercialization later this year. 

Form Factory 1 represents a total direct investment of up to $760 million, with a financial incentive package from the State of West Virginia worth approximately $290 million in asset-based, performance financing. Construction of the first 500 square feet of the building will conclude this summer. Form Energy will build an additional phase resulting in ~1 million square feet of total manufacturing space; the factory will have an annual production capacity of 500 megawatts of batteries when in full operation. 

 Form Energy recently held two hiring events in Weirton and has started hiring manufacturing roles for Form Factory 1. To learn more about Form Energy and stay up to date on the latest developments and job openings at Form Factory 1, please visit www.formenergy.com.

 

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Form Energy Media Contact:

Sarah Bray (sbray@formenergy.com)

832.226.2116

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