Form Energy Inc., an American company developing and commercializing long-duration iron-air battery technology, is proceeding with the construction of its first large-scale manufacturing facility in Weirton, West Virginia. On Thursday, the company held a ceremony to mark the raising of the final steel beam at the Form Factory 1 construction site. The construction of this facility, which will cost up to $760 million (€706 million), began in May 2023. The project is supported by the state of West Virginia through a financial package of $290 million in asset-based and performance-based investments.
The first phase of the facility will be completed by the summer. An additional development phase will expand the production space to one million square feet. Once fully operational, the facility will have an annual production capacity of 500 MW of batteries and employ at least 750 people.
According to the schedule posted on the company’s website, operations are planned to begin in mid to late 2024, with the next expansion phase starting in early 2025. (1 dollar = 0.93 euro)
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FAQ Section based on key topics and information presented in the article:
1. What does Form Energy Inc. do?
Form Energy Inc. is an American company that develops and commercializes long-duration iron-air battery technology.
2. Where is Form Energy Inc. building its first manufacturing facility?
Form Energy Inc. is building its first large-scale manufacturing facility in Weirton, West Virginia.
3. When did the construction of the facility begin?
The construction of this facility began in May 2023.
4. What support does this project have?
This project is supported by the state of West Virginia through a financial package of $290 million in asset-based and performance-based investments.
5. What is the projected production capacity of the facility upon completion?
Once fully operational, the facility will have an annual production capacity of 500 MW of batteries.
6. How many people will be employed at the facility?
The facility will employ at least 750 people.
Need more information? You can visit Form Energy Inc.’s official website by clicking here.
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The source of the article is from the blog guambia.com.uy