Form Energy CEO Explains How 100-Hour Batteries Could Revolutionize the Grid

Ireland’s rapid expansion of data centers—mirroring trends in the U.S.—has positioned it as the ideal location for Form Energy’s first international project. At Heatmap House, part of San Francisco Climate Week, CEO Mateo Jaramillo described Ireland as “a postcard from the future.”

In an exclusive interview with Robinson Meyer, Jaramillo detailed the game-changing potential of Form Energy’s 100-hour battery. He emphasized that this duration could “functionally replace thermal resources on the grid or compete with them,” enabling a faster transition from oil and gas to renewables while ensuring power reliability for data centers.

Form Energy’s Iron-Air Battery: A Breakthrough in Long-Duration Storage

Founded in 2017 by Jaramillo, Form Energy specializes in iron-air batteries capable of discharging energy continuously for up to 100 hours. The technology’s promise has already attracted major partnerships, including a February 2024 announcement with Google and utility Xcel Energy. Together, they plan to build the world’s highest-capacity battery, with a storage capacity of 30 gigawatt-hours.

Data Center Demand and Policy Tailwinds Fuel Growth

Jaramillo admitted that while Form Energy anticipated long-term electricity growth, the surge in data center demand exceeded expectations. “When we founded the company, we didn’t anticipate the boom of data center demand that we’re currently experiencing,” he said. “But we did bet on the overall mega-trend being pretty firmly in place, which is electricity growth.”

Policy support has also been critical. The Inflation Reduction Act’s (IRA) energy storage tax credits—despite Republican cuts to other climate provisions—remain intact. Jaramillo confirmed Form Energy qualifies for both the energy storage tax credit and the manufacturing protection credit. Notably, the IRA’s legislative text explicitly includes “100 hours” as a qualifying duration for the manufacturing credit.

“We absolutely qualify for both those things. In fact, 100 hours as a duration is written into the legislative text for the manufacturing [tax credit].” — Mateo Jaramillo, CEO, Form Energy

Batteries as a Bridge to a Renewable Future

Long-duration batteries like Form Energy’s can accelerate the retirement of natural gas plants by providing firm energy to supplement intermittent renewables. This capability has fostered bipartisan political support, as policymakers increasingly view storage as a solution to rising electricity demand.

The company is now focused on reducing costs. Jaramillo expressed confidence that Form Energy will achieve its target of roughly $20 per kilowatt-hour “within a very short period of time.”