Trinity Capital Inc. Provides $50 Million in Equipment Financing to Form Energy
Trinity Capital (NASDAQ: TRIN) has committed $50 million in equipment financing to Form Energy, a technology company developing innovative multi-day energy storage systems. Form Energy specializes in iron-air battery technology capable of storing electricity for 100 hours at competitive costs. The financing will support equipment purchases for Form Energy's first high-volume battery manufacturing facility in Weirton, West Virginia. This commitment follows Form Energy's recent $455 million Series F fundraise led by T. Rowe Price. The company aims to enhance energy system reliability and sustainability through its cost-effective storage solutions.
Trinity Capital (NASDAQ: TRIN) ha impegnato 50 milioni di dollari per il finanziamento di attrezzature a Form Energy, un'azienda tecnologica che sviluppa sistemi innovativi di accumulo energetico multi-giornaliero. Form Energy si specializza nella tecnologia delle batterie a ferro-aria, in grado di immagazzinare elettricit脿 per 100 ore a costi competitivi. Il finanziamento sosterr脿 l'acquisto di attrezzature per il primo impianto di produzione di batterie ad alto volume di Form Energy a Weirton, Virginia Occidentale. Questo impegno segue la recente raccolta di fondi di 455 milioni di dollari Serie F guidata da T. Rowe Price. L'azienda mira a migliorare l'affidabilit脿 e la sostenibilit脿 del sistema energetico attraverso soluzioni di stoccaggio economicamente vantaggiose.
Trinity Capital (NASDAQ: TRIN) ha comprometido 50 millones de d贸lares en financiamiento de equipos para Form Energy, una empresa tecnol贸gica que desarrolla sistemas innovadores de almacenamiento de energ铆a a largo plazo. Form Energy se especializa en la tecnolog铆a de bater铆as de hierro-aire, capaz de almacenar electricidad durante 100 horas a costos competitivos. El financiamiento apoyar谩 las compras de equipos para la primera instalaci贸n de fabricaci贸n de bater铆as de alto volumen de Form Energy en Weirton, Virginia Occidental. Este compromiso sigue a la reciente recaudaci贸n de fondos de 455 millones de d贸lares en la Serie F liderada por T. Rowe Price. La compa帽铆a busca mejorar la fiabilidad y sostenibilidad del sistema energ茅tico a trav茅s de sus soluciones de almacenamiento rentables.
韸鸽Μ雼堩嫲 旌愴敿韮� (NASDAQ: TRIN)鞚� 韽 鞐愲剤歆�鞐� 鞛ル箘 鞛愱笀鞙茧 5觳滊 雼煬毳� 韴瀽頄堨姷雼堧嫟. 韽 鞐愲剤歆�電� 順侅嫚鞝侅澑 雼れ澕 鞐愲剤歆� 鞝�鞛� 鞁滌姢韰滌潉 臧滊皽頃橂姅 旮办垹 須岇偓鞛呺媹雼�. 韽 鞐愲剤歆�電� 瓴届焷霠� 鞛堧姅 牍勳毄鞙茧 100鞁滉皠 霃欖晥 鞝勱赴毳� 鞝�鞛ロ暊 靾� 鞛堧姅 觳�-瓿店赴 氚绊劙毽� 旮办垹鞚� 鞝勲鞙茧 頃╇媹雼�. 鞚措矆 鞛愱笀 歆�鞗愳潃 韽 鞐愲剤歆�鞚� 觳� 氩堨Ц 雽�霟� 氚绊劙毽� 鞝滌“ 鞁滌劋鞚� 鞗柎韯�, 鞗姢韸� 氩勳雼堨晞鞐� 雽�頃� 鞛ル箘 甑Г毳� 歆�鞗愴暊 瓴冹瀰雼堧嫟. 鞚� 鞎届爼鞚� T. 搿滌毎 頂勲澕鞚挫姢臧� 欤茧弰頃� 斓滉芳 4鞏� 5觳�5氚彪 雼煬 鞁滊Μ歃� F 韼�霌�毳� 鞚挫柎臧�電� 瓴冹瀰雼堧嫟. 鞚� 須岇偓電� 牍勳毄 須湪鞝侅澑 鞝�鞛� 靻旊（靺橃潉 韱淀暣 鞐愲剤歆� 鞁滌姢韰滌潣 鞁犽靹标臣 歆�靻� 臧�電レ劚鞚� 頄レ儊鞁滍偆電� 瓴冹潉 氇╉憸搿� 頃橁碃 鞛堨姷雼堧嫟.
Trinity Capital (NASDAQ: TRIN) a engag茅 50 millions de dollars dans un financement d'茅quipement pour Form Energy, une entreprise technologique d茅veloppant des syst猫mes innovants de stockage d'茅nergie sur plusieurs jours. Form Energy se sp茅cialise dans la technologie des batteries fer-air, capable de stocker de l'茅lectricit茅 pendant 100 heures 脿 des co没ts comp茅titifs. Ce financement soutiendra l'achat d'茅quipements pour la premi猫re installation de fabrication de batteries 脿 fort volume de Form Energy 脿 Weirton, en Virginie-Occidentale. Cet engagement fait suite 脿 la r茅cente lev茅e de fonds de 455 millions de dollars en s茅rie F men茅e par T. Rowe Price. L'entreprise vise 脿 am茅liorer la fiabilit茅 et la durabilit茅 du syst猫me 茅nerg茅tique gr芒ce 脿 ses solutions de stockage rentables.
Trinity Capital (NASDAQ: TRIN) hat 50 Millionen Dollar f眉r die Finanzierung von Ger盲ten an Form Energy verpflichtet, ein Technologieunternehmen, das innovative mehrt盲gige Energiespeichersysteme entwickelt. Form Energy hat sich auf die Technologie von Eisen-Luft-Batterien spezialisiert, die in der Lage sind, Strom f眉r 100 Stunden zu wettbewerbsf盲higen Kosten zu speichern. Die Finanzierung wird den Kauf von Ger盲ten f眉r die erste Gro脽serien-Batteriefertigungsanlage von Form Energy in Weirton, West Virginia, unterst眉tzen. Dieses Engagement folgt auf die k眉rzliche Fundraising-Runde von 455 Millionen Dollar der Serie F, die von T. Rowe Price geleitet wurde. Das Unternehmen hat zum Ziel, die Zuverl盲ssigkeit und Nachhaltigkeit des Energiesystems durch kosteneffektive Speicherm枚glichkeiten zu verbessern.
- Secured $50 million equipment financing deal with Form Energy
- Strategic expansion into clean energy technology sector
- Partnership with well-funded company (recently raised $455M Series F)
- None.
Insights
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
"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.
About Trinity Capital Inc.
Trinity Capital Inc. (Nasdaq: TRIN), an internally managed business development company, is a leading provider of diversified financial solutions to growth-stage companies with institutional equity investors. Trinity Capital's investment objective is to generate current income and, to a lesser extent, capital appreciation through investments, including term loans and equipment financings and equity-related investments. Trinity Capital believes it is one of only a select group of specialty lenders that has the depth of knowledge, experience and track record in lending to growth stage companies. For more information, please visit the Company's website at www.trinitycap.com.
About Form Energy
Form Energy is an American technology company developing and commercializing a new class of cost-effective, multi-day energy storage systems. Form Energy's first announced commercial product is a rechargeable iron-air battery capable of delivering electricity for 100 hours at system costs competitive with conventional power plants. Made from iron, one of the safest, cheapest, and most abundant minerals on Earth, this front-of-the-meter battery can be used continuously over a multi-day period and will enable a reliable and secure grid year-round. Learn more: 听补苍诲 .
View original content to download multimedia:
SOURCE Trinity Capital Inc.
FAQ
What is the value of Trinity Capital's equipment financing commitment to Form Energy?
How will Form Energy use Trinity Capital's $50M equipment financing?
What type of technology is Form Energy developing with Trinity's financing?
How much did Form Energy raise in their Series F funding before Trinity's financing?
Where will Form Energy's new manufacturing facility be located?
