Dear readers and investors, we have great news!
Yesterday, August 12th, our portfolio project, Form Energy, closed a $750 million Series G round led by T. Rowe Price. Sequoia Capital, Coatue, and GE Vernova participated in the round. Collectively, the company has raised over $2 billion.
The funds are being used to expand production of 100-hour iron-air batteries in West Virginia: demand is growing amid the data center and AI boom. The order book has reached 80 GWh, with customers including Google, Xcel Energy, and Crusoe (another of our projects).
Back in June, the company selected JPMorgan and Jefferies as the bookrunners for its upcoming IPO. The round has closed, production is scaling, and the next logical step is the public market.
Now for the main event. At the request of our managers and their clients, we are holding off on Form Energy lot sales until Monday. However, applications for this position will be closed starting Monday, August 17.
Please contact a manager for details of the terms and conditions of the transaction.