ArcelorMittal announces it has made the second investment to Form Energy Inc. with US$ 17.5 million.
Form Energy was established in 2017, and it aimed to develop a new class of cost-effective, multi-day energy storage systems that can reach the renewable electric grid year-round.
The cooperation included that the two companies will explore the potential for ArcelorMittal to provide direct reduced iron (DRI), tailored to specific requirements, to Form Energy as the iron input into their battery technology.
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