Yes, FORMATES is a Scrabble word!

Letter values in Scrabble US: F 4, O 1, R 1, M 3, A 1, T 1, E 1, S 1.

Is it a valid word?

FORMATES is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

set (printed matter) into a specific format
determine the arrangement of (data) for storage and display (in computer science)
divide (a disk) into marked sectors so that it may store data

Not playable in Scrabble US: INITIALISE.