Google paid startup Form Energy $1B for its massive 100-hour battery

Google announced earlier this week that it was building a new data center in Minnesota which is powered by a combination of wind, solar, and a very special battery built into the launch Form Energy which can produce the last days.

Now we know the cost of electric power technology: about $ 1 billion, according to to Information.

Form Energy’s large iron metal battery can produce more than 300 megawatts of electricity per 100 hours. It works by breathing, in other words – the air injected into the cells produces iron, which produces electrons. The battery will work to smooth the flow of electrons from 1.4 gigawatts of wind power and 200 megawatts of solar power.

The startup has been expanding into technology for years, and has built a factory in West Virginia to manufacture batteries. But it hadn’t found a big customer until the recent deal with Google.

With the big plan on the books, Form Energy CEO Mateo Jaramillo said his company is in the process of raising $500 million in capital. The form has raised $1.4 billion to date, according to PitchBook. The company plans to go public next year.