Forge Nano, a company specialising in material performance optimisation, has secured a $10m investment from GM Ventures, the venture unit of General Motors.
This latest investment adds to Forge Nano’s funding history, which includes a $50m Series C round with participation from investors such as Hanwha, Orion Infrastructure Capital, and Catalus Capital.
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To date, the company has raised over $100m, with contributions from key players in the automotive and materials sectors, including Volkswagen and LG Technology Ventures.
GM Ventures managing director Anirvan Coomer said: “GM Ventures’ primary goal is to bring disruptive technology into the GM ecosystem to improve products and processes.”
“Forge Nano’s Atomic Armor technology has game-changing potential for our battery materials at significant scale. They have already demonstrated the ability to expand cathode capabilities, which is the most expensive battery cell component. This could unlock benefits for customers and the business.”
Forge Nano plans to use the investment to enhance its Atomic Armor technology, which applies thin coatings to improve material performance and durability—essential for the development of future electric vehicles (EVs).
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By GlobalDataAs part of this collaboration, Forge Nano and General Motors have entered into a strategic partnership. This agreement aims to leverage Forge Nano’s high-throughput Atomic Armor equipment for coating cathode active materials used in GM’s EV battery cells.
In addition to this partnership, Forge Nano is expanding its battery material coating business.
This includes in-house coating services, the sale of external equipment, and the production of battery cells powered by Atomic Armor technology.
The company is also planning to extend its reach into the semiconductor sector.
Forge Nano CEO Paul Lichty said: “Forge Nano’s mission is to make better materials for a better world. General Motors’ investment will allow us to further enhance battery material performance and durability, while allowing us to expand our footprint in other key areas – like semiconductors.”
The company noted that it also plans to extend its battery material coating services and grow its presence in the semiconductor sector.
As part of its ongoing innovation efforts, Forge Nano is set to develop thin-film coatings specifically designed to enhance GM’s cathode active materials.
Moreover, Forge Nano’s battery manufacturing division, Forge Battery, is making strides in expanding its production capacity. Recently, it was selected for a $100m award negotiation with the US Department of Energy, which will support the scaling of its operations.
Forge Battery has begun producing 300 Wh/kg lithium-ion prototype cells, emphasising the practical applications of its surface engineering technology.
Looking ahead, Forge Battery plans to establish a Gigafactory in Raleigh, North Carolina, focused on producing high-energy and high-power lithium-ion battery cells.
