Startup introduces iron ore to battery race and attracts ArcelorMittal conglomerate

Form Energy intends to solve the renewable energy storage issue by using a much cheaper and more abundant ore than lithium.

RIO DE JANEIRO, BRAZIL - Several minerals have emerged in the race for batteries capable of powering an increasingly electrified world.

Now, a solution developed by an American startup founded 4 years ago, backed by Bill Gates and Jeff Bezos' climate fund, may soon introduce an abundant and unlikely commodity into the game: iron ore.

After years of research behind closed doors, Form Energy announced that it has developed a business model for an iron ore-based battery capable of discharging power for days at a cost that founders say is as little as one-tenth of the most common lithium . . .

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