Form Energy choses West Virginia for first iron-air battery manufacturing plant

Published on December 27, 2022 by Liz Carey


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West Virginia Gov. Jim Justice and U.S. Sen. Joe Manchin (D-WV) announced Thursday that Form Energy, Inc. had reached an agreement with the state to build the first iron-air battery manufacturing facility.

The plant, located along the Ohio River in the city of Weirton, is expected to create a minimum of 750 new full-time jobs and represents an investment of nearly $760 million. The West Virginia Economic Development has allocated $75 million toward the purchase of 55 acres of land for the facility, as well as the construction of buildings in the city, Justice said. Additionally, Justice said he would be working with the legislature and federal partners to secure an additional $215 million to finalize the agreement.

“Weirton is long overdue for some incredible news,” West Virginia Governor Jim Justice said. “At one point, Weirton was one of America’s most important steel towns— a national leader in steel production. Now, this historic city is looking toward the future, and it’s very bright with Form Energy opening its doors. We structured a unique financial incentive package worth up to $290 million in asset-based, performance financing to support their decision to locate in Weirton.”

The plant would manufacture batteries that can store electricity for 100 hours, technology Form Energy said will reshape the electric system to reliably run on 100 percent low-cost renewable energy every day of the year.

“After a year-long nationwide site selection process that started with identifying over 500 candidate locations across 16 states, it became abundantly clear that Weirton, West Virginia – a historic steel community that sits on a river and has the rich heritage and know-how to make great things out of iron – is the ideal location for our first commercial battery production factory,” Mateo Jaramillo, co-founder and CEO of Form Energy, said. “We look forward to working with Weirton community leaders in the coming months to determine how we can best support the needs of local residents in the area through lasting community partnership and engagement.”

The company expects to begin construction on the facility in 2023 and manufacturing the iron-air battery systems in 2024.