WEIRTON – Local economic development officials are monitoring a bill currently before the West Virginia Legislature aimed at supporting the effort to bring Form Energy to Weirton, and will be heading to Charleston later this week in the hopes of allaying any remaining concerns from lawmakers.

State officials announced in December that Form Energy was planning to locate its first large-scale manufacturing facility in Weirton, on property once owned by Weirton Steel and now part of the Frontier Crossings development. The Massachusetts-based company has developed a new iron-air battery capable of storing electricity for 100 hours with a goal of helping to shore up the nation’s power grid.

Earlier this week, the House Finance Committee gave its blessing to House Bill 2882, part of which would take $115 million from the state’s surplus tax revenue and transfer it to the state Department of Economic Development. Of those funds, $105 million would be dedicated to the Form Energy project.

Representatives of the Business Development Corp. of the Northern Panhandle will be on hand at the Capitol on Friday, to reinforce the opportunities available to the Tri-State Area as a result of the project, including a minimum of 750 new jobs.

“We have created a track record of unparalleled success in the Northern Panhandle creating economic development opportunities of former industrial sites. From Jupiter Aluminum on the former Wheeling Corrugating property in Beech Bottom to the most recent Gruppo Fanti expansion into the Half Moon Park in Weirton, we are making progress rebuilding our manufacturing base,” noted Marvin Six, executive director of the BDC. “The Form Energy project provides a once-in-a-generation opportunity to convert unused former Weirton Steel land and create at least 750 new jobs for the region. Once completed, this project will drive economic growth, not just in Weirton but across the Northern Panhandle.”

Six pointed to commitments made by the management of Form Energy in crafting its plans, as well as measures included in the arrangements with the state for the use of the property.

“The economic incentives from the State of West Virginia are contingent on the creation of jobs by Form Energy, so there is no guarantee unless the project is up and running,” Six said. “Form Energy has been an incredible partner to date.”

Weirton was selected by Form Energy from approximately 500 sites across 16 states. The batteries set to be produced in Weirton contain iron pellets that rust, release oxygen, and revert the rust back into iron. This cycle allows the batteries to be charged and recharged.

“This technology has the potential to increase U.S. battery manufacturing and reduce our dependence on foreign batteries that are currently manufactured in China and other foreign countries,” said Jacob Keeney, assistant director of the BDC. “The project will be located on 55 acres of the former Weirton Steel site and will involve at least $350 million in capital investment, creating at least 750 jobs at an average wage of $63,000 per year. Weirton has lost 30% of its population since the 1970s, so this project would be an incredible boost to the local economy.”

The state Economic Development Authority already had approved $75 million as part of the incentive package for the project, with the state proposing an asset-based lending approach, retaining ownership of the property as a backstop in the event the goals for the project aren’t met. Form Energy also is investing $350 million to help get the project started. The company plans to begin construction later this year, with manufacturing slated to kick off in late 2024.