Crusoe makes big battery buys for its data centers
The company said it will buy 12 gigawatt-hours of Form Energy’s 100-hour batteries.
That deal was worth about $1 billion, according to The Information.
Form, which didn’t disclose the value of the sale, will start delivering Crusoe’s batteries in 2027.
4 billion to date, according to PitchBook. Previously, Form had signed smaller contracts with utilities interested in testing the technology. Form’s iron-air batteries discharge when oxygen from the air flows over iron pebbles inside the battery. The oxidation process produces rust and electricity. To charge the battery, electricity essentially de-rusts the iron, releasing oxygen.
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