Grid networks manage the regional delivery of electricity. When solar energy is produced, batteries can be used to store the power generated during the peak of the day to meet electricity demands at night.
So far, most grid-storage facilities rely on lithium-ion batteries, the same technology found in electric vehicles. But these batteries are relatively expensive and not particularly long-lived.
Form Energy sells Iron-air batteries that are far cheaper and far easier to produce at half the cost of lithium-ion batteries.
The company has closed a contract to install a 150-megawatt-hour battery in Minnesota and to build a manufacturing plant employing around 750 people.
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