Trinity Capital announced the commitment of $50 million in equipment financing to Form Energy, an American technology company developing and commercializing a new class of cost-effective, multi-day energy storage systems.

Form Energy aims to reform the global electricity system through the development of innovative, low-cost multi-day energy storage solutions. The company is pioneering an iron-air battery capable of storing electricity for 100 hours at system costs competitive with legacy power plants. Founded in 2017 by a group of energy storage experts, Form Energy aims to enhance the reliability and sustainability of energy systems.

"Form Energy's groundbreaking iron-air battery technology has the potential to redefine the future of energy storage," said Cory Cramer, Director, Equipment Finance at Trinity. "We're excited to partner with the company as they scale their operations and accelerate the pathway to a clean and reliable electric grid."

This financing comes on the heels of Form Energy's $455 million Series F fundraise led by T. Rowe Price. The equipment financing will be used to finance capital equipment for the company's first high volume battery manufacturing facility located in Weirton, West Virginia.

"We are thrilled to have Trinity's support as we grow our business and increase manufacturing capacity to meet the growing demand for our multi-day energy storage system," said Charlotte Beard, CFO of Form Energy.