Project Traits
State: West Virginia
Congressional District: WV02
Organization Type: Commercial
Partner Organization(s) Type: None or Unknown
Energy Sector: Energy Storage
Energy Subsector: Batteries
Project Start Year: Unknown
Project Launch Year: Unknown
Government Support Received: State Grant [West Virginina Economic Development Authority Allocation] for $75,000,000 State Tax Credit [West Virginina Economic Development Authority Allocation] for $215,000,000 Federal Tax Credit [Manufacturing Production Tax Credit (45X)] for Unknown Amount
Outcomes & Impacts
Private Investment: $760,000,000
Jobs Announced or Created: 750
People Served: Unknown
Projected Economic Impact: Unknown
Gov. Jim Justice announced today that Form Energy, Inc. (Form Energy) will partner with the State of West Virginia to build its first iron-air battery manufacturing facility on 55 acres of property in the northern panhandle of West Virginia, along the Ohio River, in the city of Weirton. The new battery manufacturing plant is expected to create a minimum of 750 new full-time jobs and will represent a total investment of up to $760 million.
Form Factory 1, which is situated at the historic site of the former Weirton Steel mill represents an investment of nearly $800 million in private venture capital in public and private capital. Form Energy expects to start construction of its Weirton factory in 2023 and begin manufacturing iron-air battery systems in 2024 for broad commercialization.
The 550,000-square-foot factory currently employs 300 people with family-sustaining manufacturing jobs. By 2028, Factory 1 is set to nearly double in size, supporting more than 750 employees.