Form Energy – a startup focusing on making battery systems that can store renewable energy (solar and wind) for longer durations, announced the close of a $240 million Series D financing round led by ArcelorMittal’s XCarb innovation fund. TPG’s global impact investing platform TPG Rise participated in the Series D, investing through TPG Rise Climate. The other investors participating in the round include Perry Creek Capital, along with existing investors NGP Energy Technology Partners III, Coatue, Temasek, Energy Impact Partners (EIP), Breakthrough Energy Ventures (BEV), Prelude Ventures, MIT’s The Engine, Capricorn Investment Group, Eni Next, and Macquarie Capital. This brings Form Energy’s total funds raised to over $360 million.