Long-Duration Energy Storage Attracts Billion-Dollar Investments for Iron-Air and Thermal Batteries

August 17, 2026

Forbes USA

Overview

Investments in long-duration energy storage solutions are surging, with Form Energy raising $750 million for its iron-air batteries and Antora Energy securing $550 million for its carbon-block thermal batteries. This capital influx underscores the escalating demand for multi-day power storage, driven significantly by the booming energy needs of data centers. These substantial investments highlight the critical role non-lithium storage technologies play in stabilizing grids amidst increasing intermittent renewable energy integration.

In Depth

Key Findings

The sector for long-duration energy storage (LDES) solutions is experiencing a dramatic influx of capital, with Form Energy and Antora Energy collectively raising $1.3 billion. Form Energy secured $750 million for its iron-air battery technology, while Antora Energy garnered $550 million for its innovative carbon-block thermal batteries. This trend signifies a critical pivot towards technologies capable of storing power for multiple days, addressing a fundamental challenge in grid decarbonization.

Technical & Business Details

Form Energy’s iron-air battery systems are designed to provide over 100 hours of continuous energy storage, utilizing abundant and low-cost materials like iron and air. This latest $750 million funding round is aimed at accelerating the manufacturing and commercial deployment of these grid-scale solutions. Antora Energy, on the other hand, specializes in thermal batteries that store electricity as heat in solid carbon blocks, converting it back to electricity on demand. Their $550 million capital injection will further scale their manufacturing and project pipeline. Both companies are targeting the burgeoning demand for reliable, dispatchable power in an increasingly renewable energy-dominated grid, with data centers being a significant driver due to their continuous, high-power requirements for AI operations.

Background & Context

As solar and wind power increasingly penetrate electricity grids, the inherent intermittency of these sources necessitates advanced storage solutions beyond the typical 2-4 hour duration offered by most lithium-ion batteries. LDES technologies, like those from Form Energy and Antora Energy, are crucial for bridging supply-demand gaps over periods of days or even weeks, providing resilience against weather variability and peak demand events. Their reliance on non-lithium chemistries not only diversifies the battery supply chain but also promises lower material costs and enhanced safety profiles. The exponential growth of AI and cloud computing is intensifying the energy footprint of data centers, pushing them to seek out sustainable, long-duration energy solutions to reduce operational costs and meet corporate decarbonization goals.

Strategic Significance & Outlook

The substantial investments in iron-air and thermal battery technologies mark a pivotal moment for the energy storage industry. These solutions are poised to significantly de-risk the integration of large-scale renewable energy, enabling grids to operate with higher percentages of clean power without sacrificing reliability. The competitive landscape for LDES is heating up, but the diverse technological approaches, from electrochemical (iron-air) to thermomechanical (carbon-block), offer varied benefits for different grid needs. This influx of capital will accelerate the commercialization and deployment of these technologies, contributing directly to global climate goals and fostering a more resilient and sustainable energy infrastructure, particularly for energy-intensive sectors like data centers.

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