According to Reuters, Form Energy, a startup planning to make battery systems that can efficiently store wind and solar energy, has raised $70M in Series C funding. Investors have not been disclosed.

Form Energy is developing and commercializing ultra-low-cost, long-duration energy storage systems that can be located in any market and scaled to match existing energy generation infrastructure globally. These systems have the capability to reshape the electric system, making renewables fully firm and dispatchable year-round, extending transmission capacity without building new wires, and completely replacing the need for conventional thermal generation.