Weirton, WV – August 12, 2026 – Form Energy, Inc., an American technology company developing and commercializing a new class of cost-effective, multi-day energy storage systems, announced today a $750 million Series G financing round led by T. Rowe Price, which also led the company’s prior Series F round. This round brings Form Energy’s total equity raised to date to over $2 billion.
New investors joining the Series G include Sequoia Capital, Janus Henderson, Franklin Templeton, and PEAK6 Investments. The round also received strong continued support from existing investors including Prelude Ventures, Engine Ventures, TPG Rise Climate, Capricorn’s Technology Impact Funds, Breakthrough Energy Ventures, Dustin Moskovitz and Cari Tuna, Gigascale Capital, Coatue, Energy Impact Partners, NGP, GE Vernova, Blindspot Ventures, and M&G Catalyst Fund. Morgan Stanley acted as the sole and exclusive placement agent to Form Energy in connection with its Series G private placement.
Proceeds from the Series G will be used to accelerate Form Energy’s manufacturing scale-up in Weirton, West Virginia, and advance commercial deployments of its iron-air battery systems to meet growing demand for reliable, affordable multi-day energy storage.
The closing of the Series G comes on the heels of several new commercial agreements for Form Energy. Earlier this year, the company increased its backlog from approximately 20 gigawatt-hours to 80 gigawatt-hours of iron-air battery systems, including projects with Xcel Energy and Google, Crusoe, and FuturEnergy Ireland. These agreements underscore the growing role of multi-day energy storage in supporting rising electricity demand.
To support that growth, Form Energy has expanded its executive leadership team with the appointments of Chief Financial Officer Navneet Govil and Chief Operating Officer Wes Sloan.
Navneet Govil has joined as Chief Financial Officer and will lead the company’s finance organization and oversee financial strategy, capital formation, and investor relations as the company grows. Navneet brings more than three decades of finance leadership, including his most recent role as Executive Managing Partner, Chief Financial Officer, and a member of the Investment Committee at SoftBank Investment Advisers, where he helped oversee finance and investment operations across the SoftBank Vision Funds’ global portfolio.
Wes Sloan has joined Form Energy as Chief Operating Officer and will lead the company’s operations organization as Form scales its manufacturing capabilities and prepares for commercial growth. Wes brings more than 25 years of leadership experience across aerospace, automotive, and energy. Most recently, he served as Executive Vice President at Panasonic Energy North America, where he oversaw Panasonic’s overall production in Nevada and led large-scale battery manufacturing operations. Previously, Wes held senior leadership roles at Rolls-Royce, including responsibility for engine assembly and testing, and previously led the deployment of Lean Six Sigma across the services division in the UK, the Americas, and Europe.
To learn more about Form Energy, please visit www.FormEnergy.com.