Form Energy to invest nearly $800 million into battery manufacturing facility in Weirton, West Virginia

Form Energy plans to invest nearly $800 million in the Weirton area, officials announced Thursday.

The company, which manufactures “multi-day” renewable batteries, will locate a manufacturing facility on 55 acres of property along the Ohio River, said state Economic Development Secretary Mitch Carmichael.

The facility will “immediately” bring up to 750 jobs to “downtown Weirton,” said Gov. Jim Justice.

The state offered Form Energy “a unique financial incentive package worth up to $290 million” to secure the company’s investment, Justice said.

“The funds put toward this project are guaranteed, secured and collateralized through ownership of all land and buildings by the state. The West Virginia Economic Development Authority allocated $75 million toward the purchase of land and the construction of buildings in Weirton this morning,” he said Thursday. “I plan on working with the West Virginia Legislature and our federal partners to obtain an additional $215 million needed to finalize our agreement.”

The company considered “over 500 candidate locations across 16 states” before choosing West Virginia, said Mateo Jaramillo, co-founder and CEO of Form Energy.

“We look forward to working with Weirton community leaders in the coming months to determine how we can best support the needs of local residents in the area through lasting community partnership and engagement,” he said.

The company expects to start construction of the Weirton factory in 2023 and begin manufacturing in 2024.

U.S. Sens. Joe Manchin and Shelley Moore Capito released statements reacting to the announcement.

“Form Energy’s new manufacturing plant will bring clean and innovative energy technologies to West Virginia and put to good use the vast skills of our people to help ensure our country’s energy security,” said Manchin.

“If West Virginia is going to continue to be an energy state, we must embrace new technologies, but also tell our story on a national and global level,” said Capito.

Thursday’s announcement is the most recent in a series of economic development projects unveiled by Justice and other state officials.

On Dec. 8, Commercial Metals Company announced it had selected Berkeley County as the location for its fourth micro steel mill.

The $450 million mill, which will produce rebar, is expected to begin operations in late 2025.

“We’re honored that CMC selected our great state as the home for this state-of-the-art facility, set to be one of the most environmentally friendly steelmaking operations in the world,” Justice said at an event announcing the investment.

Other recently announced projects include planned projects by Pure Watercraft, Omnis Building Technologies and Berkshire Hathaway Energy subsidiary BHE Renewables.

Carmichael, during a recent interview with WV News, said companies have become aware that West Virginia is an “all-of-the-above energy state.”

“We embrace our fossil heritage and we still rely on it still to some extent, but we also welcome all of the renewable components into the energy mix,” he said.

The renewable energy industry is a close-knit community and good news travels fast among its members, Carmichael said.

“Once they become aware that West Virginia is a great place to do business, that the people here are embracing (renewables), that we make fast decisions, that we can be accommodating to businesses and provide a great workforce, they start to talk amongst themselves and it’s self-perpetuating,” he said.

Form Energy Inc., based in Massachusetts, is backed by Bill Gates’s Breakthrough Energy Ventures, according to reporting from Bloomberg.

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