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Crusoe Boosts Energy Storage with Form & Redwood Batteries
25 Mar
Summary
- Crusoe will acquire 12 gigawatt-hours of Form Energy's long-duration batteries.
- Form Energy's iron-air batteries store energy through an oxidation process.
- Redwood Materials will supply repurposed EV batteries for microgrid expansion.
Data center developer Crusoe is significantly enhancing its energy storage infrastructure through substantial battery acquisitions. The company has committed to purchasing 12 gigawatt-hours of Form Energy's 100-hour batteries, marking a considerable sale for the energy storage innovator. These iron-air batteries operate by using oxygen to convert iron into electricity, a process reversible for charging.
Form Energy, which began expanding its West Virginia factory last year, anticipates substantial revenue from this agreement, which follows a major sale to Google. The company has raised significant capital to date, with this deal likely contributing hundreds of millions. Crusoe is also expanding its collaboration with Redwood Materials, a company specializing in battery recycling.
This expanded partnership will see Redwood Materials provide an additional 8 megawatts of power using batteries repurposed from electric vehicles. This initiative builds on Crusoe's existing microgrid operations, which currently feature one of the largest second-life battery installations.
