To launch the innovative project, Form Energy has already raised over $300 million. The American company Form Energy has launched a pilot project to create a new network battery. New Atlas reports this.

It is noted that up to 100 kilowatt-hours will be stored in iron-air batteries. And the operation of the devices will cost ten times less than the operation of lithium batteries.

Form Energy will use iron-air batteries instead of lithium, which are inexpensive due to the materials being available and abundant.

Iron-air batteries will work by reversing the corrosion process.

“The iron combines with oxygen, releasing energy in a discharge cycle, and then when the energy is applied to the resulting rust, it turns back into iron and releases its oxygen. This technology was not used for many decades due to hydrolysis, which reduces battery efficiency by half, until this problem was solved in 2012,” the company noted.

Form Energy has already raised over $300 million to start the project.