An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Form Energy Partners with Xcel Energy on Two Multi-day Energy Storage Projects
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Positive)
Tags
partnership
Form’s 100-hour iron-air battery system to expand access to reliable, low-cost renewable energy generated for Xcel Energy’s Minnesota and Colorado customers
BOSTON--(BUSINESS WIRE)--
Form Energy, Inc., an American technology company developing and commercializing a new class of cost-effective, multi-day energy storage systems, announced today that it has entered into definitive agreements with Xcel Energy (NASDAQ: XEL) to deploy its iron-air battery systems at two of Xcel Energy's retiring coal plant sites. The storage technology will allow Xcel Energy to integrate more low-cost, renewable energy into its system and maintain reliability as it retires the coal plants in the coming years and transitions to a highly renewable future.
Xcel Energy–Minnesota will deploy a 10 MW / 1,000 MWh multi-day storage system at the Sherburne County Generating Station in Becker, Minnesota. Xcel Energy–Colorado will deploy a 10 MW / 1,000 MWh multi-day storage system at the Comanche Generating Station in Pueblo, Colorado. Both projects are expected to come online as early as 2025 and are subject to regulatory approvals in their respective states.
Bob Frenzel, Chairman, President and CEO of Xcel Energy, said: “We’re on track to reduce our electric system carbon emissions 80% by 2030 and to deliver carbon-free electricity by 2050. As we build more renewable energy into our systems, our partnership with Form Energy opens the door to significantly improve how we deliver carbon-free energy so that we can continue to provide reliable and affordable electric service to our customers well into the future.”
Form Energy and Xcel Energy collaborated on extensive modeling with Formware™, Form Energy’s next-generation investment and operational modeling tool for power grids. This modeling helped Xcel Energy validate how Form’s multi-day storage will enhance Xcel Energy’s ability to reliably and cost-effectively integrate large amounts of wind energy and other renewable resources on its system. Additionally, this analysis demonstrated that Form Energy’s 100-hour iron-air battery technology will strengthen the grid against normal day-to-day, week-to-week, and season-to-season weather variability, in addition to extreme weather events including severe winter storms and polar vortex events.
Mateo Jaramillo, CEO and Co-founder of Form Energy, added: “Xcel Energy operates across some of the richest wind-resource areas in North America. We’re very pleased to work with the Xcel Energy team to maximize use of its renewable generation by providing a technology solution that will ensure their customers benefit from reliable and cost-effective service year-round. This partnership highlights Xcel Energy’s commitment to ensuring grid resiliency and reliability, energy security, and access to low-cost clean energy when and where it is needed – every day of the year.”
About Form Energy
Form Energy is a U.S. energy storage technology and manufacturing company that is developing and commercializing a pioneering iron-air battery capable of storing electricity for 100 hours at system costs competitive with legacy power plants. Form’s multi-day battery will reform the global electricity system to run on 100% low-cost renewable energy, every day of the year.
Xcel Energy (NASDAQ: XEL) provides the energy that powers millions of homes and businesses across eight Western and Midwestern states. Headquartered in Minneapolis, the company is an industry leader in responsibly reducing carbon emissions and producing and delivering clean energy solutions from a variety of renewable sources at competitive prices. For more information, visit xcelenergy.com or follow us on Twitter and Facebook.
as a leading electric and natural gas energy company, we offer a comprehensive portfolio of energy-related products and services to 3.4 million electricity customers and 1.9 million natural gas customers across our eight states: colorado, michigan, minnesota, new mexico, north dakota, south dakota, texas and wisconsin. our workforce of more than 12,000 is rising to the challenge of a dynamic, constantly-changing utility industry. one that requires us to be even more customer focused, forward thinking and productive while remaining committed to meeting our customers’ fundamental need for safe, reliable, affordable energy. with nearly 50% of our workforce eligible to retire in the next five years, there’s never been a better time to come on board. do you have a passion for renewable energy, like wind or solar? or care about giving back to the community? you’ll be in a position to directly impact our energy future. at xcel energy, you’ll be challenged, respected and rewarded. you’ll find
