Crusoe makes big battery buys for its data centers

Crusoe, a data center developer, is significantly expanding its energy storage capabilities through major battery purchases from Form Energy and Redwood Energy. Crusoe committed to buying 12 gigawatt-hours of Form Energy’s 100-hour iron-air batteries, marking Form’s second large-scale sale following a recent deal to supply Google in Minnesota. Although the financial terms were not disclosed, the purchase is expected to generate hundreds of millions in revenue for Form Energy, which is currently raising $500 million in funding and has raised $1.4 billion to date. Form’s iron-air batteries operate through an oxidation process involving iron pebbles and oxygen, enabling long-duration energy storage. Deliveries to Crusoe are set to begin in 2027, supporting Form’s recent factory expansion in West Virginia. In addition to the Form Energy deal, Crusoe has partnered with Redwood Energy, a battery recycling and reuse company founded by former Tesla CTO J.B. Straubel. Crusoe has been operating a 12 megaw