Backed by tech giants Bill Gates and Jeff Bezos, startup Form Energy is set to revolutionize renewable energy storage with its innovative iron-air battery system.
In order for large electrical grids to transition to 100% renewable energy, grid operators require efficient, affordable, practical, and environmentally friendly methods to store excess energy generated during off-peak hours and release it during times of high demand. This storage capability is needed on various timescales, including daily fluctuations. Lithium-ion batteries, commonly known as “big batteries,” have already proven effective in smoothing out daily grid fluctuations. However, lithium-ion batteries are not well-suited for long-duration storage as they discharge over time, making them less reliable for buffering against multi-day weather events or seasonal variations in renewable energy generation.
Form Energy is focusing on long-duration energy storage and aims to commercialize a simple and modular battery solution based on the rust cycle of iron. These battery modules, similar in size to washing machines, are charged by using electricity to convert rust, or iron oxide, into metallic iron while releasing oxygen as a by-product. When the batteries discharge, oxygen is reintroduced into the system, causing the metallic iron to turn back into rust and releasing energy in the process.
The advantages of using iron-air batteries are straightforward and significant. Direct reduced iron, the cheapest form of iron available, is the primary component used in these batteries and is commonly used in steelmaking. It is abundantly available and completely safe. Additionally, water and air, the other two main ingredients, are also readily accessible.
Form Energy’s iron-air battery system has the potential to address the limitations of lithium-ion batteries and provide a cost-effective and sustainable solution for long-duration energy storage. By leveraging the abundance and affordability of iron, this technology could play a crucial role in enabling the widespread adoption of renewable energy and the decarbonization of the electricity grid.
In conclusion, with the support of industry leaders like Bill Gates and Jeff Bezos, Form Energy is poised to revolutionize renewable energy storage with its groundbreaking iron-air battery system. By focusing on long-duration storage and utilizing the abundance and affordability of iron, Form Energy aims to provide a practical and eco-friendly solution for grid operators to store and release renewable energy as needed.
