TPG Rise, the global impact investing platform of private equity giant TPG, has anchored a $450 million series E financing round in energy storage systems developer Form Energy Inc.
Also joining the Series E round are GIC and Canada Pension Plan Investment Board (CPP Investments), along with existing investors ArcelorMittal, Breakthrough Energy Ventures (BEV), Capricorn Investment Group, Coatue, Energy Impact Partners (EIP), MIT’s The Engine, NGP ETP, Temasek, Prelude Ventures, and VamosVentures.
Form Energy is currently engaged in a site selection process for its first full scale battery manufacturing facility and expects to make an announcement in this regard before the end of the year.
Read more: Private Equity Wire
