Sequoia invests in Form Energy’s iron-air grid batteries

Sequoia Capital announced an investment in Form Energy, which is developing grid-scale batteries using inexpensive materials including iron and air. The company was founded by Yet-Ming Chang, who started Tesla’s energy business, and has spent nine years developing its technology.

Form Energy signed a major project with Google earlier this year. Sequoia expects batteries to become necessary as solar and wind generation expand, and sees Form Energy’s accumulated intellectual property as potentially scalable for AI infrastructure. The source also predicts that three to five companies with deep technology IP could emerge as investment opportunities, while noting that Form Energy’s scalability and competitiveness remain uncertain.