Form Energy Breaks Ground on $760M Battery Plant
The project received a $290 million incentive package.
Form Factory 1 ground breaking ceremony. Image courtesy of Form Energy Inc.
Form Energy Inc. has initiated the construction of Form Factory 1, a battery manufacturing facility spanning 750,000 square feet in Weirton, W.Va. Bringing the facility online involves a direct investment of up to $760 million, which includes a financial incentive package from the state valued at roughly $290 million.
Form Energy is set to commence the manufacturing and assembly of its iron-air battery systems, with the aim of widespread commercialization projected for mid-to-late 2024. At full capacity, Form Factory 1 is expected to create 750 positions.
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Once fully operational, Form Factory 1 will have the capability to produce 500 megawatts of batteries annually. The 55-acre manufacturing facility is set to take shape on the site of the former Weirton Steel plant, according to the developer’s website.
Form Energy chose Weirton after evaluating 500 sites across 16 states. The selection was based on various factors, including the cultural heritage of the historic steel community and the site’s direct access to rail, thoroughfares and proximity to the Ohio River.
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