Wednesday, 23 September 2026

Form Energy has closed a USD 270 million credit facility to fund manufacturing operations at its West Virginia plant, according to an Investing.com report on the company's announcement.

The package combines a revolving credit facility with a tax credit advance facility that draws against credits generated under the Section 45X Advanced Manufacturing Production Credit, per the press release cited by Investing.com. The tax credit advance facility carries an accordion feature that can lift total credit to as much as USD 1 billion.

Form Energy said proceeds will fund manufacturing scale-up, working capital, and the build-out of iron-air battery systems at Form Factory 1 in Weirton, West Virginia.

Italy's Ministry of Environment and Energy Security issued two single authorization decrees for a pair of 55 MW battery energy storage systems in Ittiri, Sardinia, according to ESS News. The two projects add up to 110 MW of combined capacity.

ESS News reports the authorizations went to Bluefield Partners, and were granted despite negative opinions from the Ittiri municipality and regional landscape protection offices.

The two Sardinian decrees lift the total capacity approved by the ministry since the start of September to 2,374 MW, per ESS News.

GridStor, the Goldman Sachs-backed developer and operator, has secured $220 million across a range of financial instruments for its White Tank battery storage project in Arizona, according to ESS News.

The site in Maricopa County, home to most of Phoenix, will provide 100 MW of power capacity and 400 MWh of energy capacity.

Output will be sold to Arizona Public Service under a 20-year tolling agreement with the utility.

The facility is expected to enter service in the first half of 2027.