Forge Nano Secures $40M to Scale U.S. Battery Manufacturing and Commercial Semiconductor Equipment Businesses
MWN-AI** Summary
Forge Nano, Inc., a Denver-based technology company specializing in battery and semiconductor innovations, has secured $40 million in funding to enhance its manufacturing capabilities and efficiency in the U.S. The funding round was co-led by RockCreek, an investment firm with a focus on energy innovation, and Ascent Funds, alongside existing investors such as GM Ventures, Volkswagen, and LG Technology Ventures. With this infusion, Forge Nano's total capital investment ascends to over $140 million.
The funds will primarily support the expansion of two high-growth business units crucial for competitive U.S. manufacturing: Forge Battery and advanced semiconductor equipment. Forge Battery specializes in producing high-performance lithium-ion batteries using its proprietary Atomic Armor™ technology, aimed at sectors like defense and aerospace. The company recently received a $100 million award from the U.S. Department of Energy to ramp up domestic manufacturing in North Carolina.
In the semiconductor realm, Forge Nano’s TEPHRA™ platform represents a significant advancement, being the fastest single-wafer atomic layer deposition (ALD) tool. This technology promises enhanced processing speeds and reduced power consumption for chips, catering to the growing demands for next-gen devices and AI computing.
CEO Paul Lichty emphasized the importance of this funding for scaling production and building domestic capabilities. Mark Gordon from Ascent Funds noted how Forge Nano’s technologies are set to fortify America’s leadership in innovation, particularly in energy-efficient batteries and semiconductors. Following the recent installation of a new battery manufacturing line and a cleanroom facility, Forge Nano aims to leverage this investment for expanding its workforce and partnerships, reinforcing its commitment to U.S. manufacturing and national competitiveness.
MWN-AI** Analysis
The recent $40 million funding secured by Forge Nano positions it exceptionally well in the rapidly evolving battery and semiconductor markets, crucial for U.S. economic competitiveness and energy independence. This new capital brings Forge Nano's total investment beyond $140 million, significantly enhancing its operational capabilities in domestic battery manufacturing and semiconductor technologies.
Investors such as RockCreek and Ascent Funds recognize the strategic importance of Forge Nano's innovations, particularly its Atomic Armor™ technology, which boosts the performance of lithium-ion batteries. With the U.S. Department of Energy backing Forge Battery to the tune of $100 million, there is clear governmental acknowledgment of the necessity for domestic supply chains in critical industries. This funding is not merely a financial boon; it positions Forge Nano to be a significant player in the U.S. transition to renewable energy and advanced manufacturing.
For investors looking toward the future, Forge Nano's dual-focus on high-performance batteries and advanced semiconductor equipment represents a compelling opportunity. The demand for energy-efficient batteries and semiconductors is soaring, driven by developments in electric vehicles and the broader trend of digital transformation. Particularly, the TEPHRA™ platform’s capabilities in semiconductor manufacturing may revolutionize how chips are produced, enhancing speed and energy efficiency, thus addressing the pressing needs of the tech industry.
As Forge Nano expands its domestic capabilities and workforce, potential investors should monitor its growth closely, especially in relation to partnerships with established automotive giants like GM and VW. These collaborations can provide Forge Nano with a steady market base and enhance its credibility.
In summary, strategic investment in Forge Nano aligns with the growing emphasis on energy independence and national competitiveness, making it a noteworthy consideration for investors seeking exposure in innovative energy technologies.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
- Funding round led by RockCreek and Ascent Funds to advance energy independence and national competitiveness
- Capital investment into Forge Nano now exceeds $140M; RockCreek joins GM, VW, LG and Hanwha as shareholders
DENVER, April 29, 2025 (GLOBE NEWSWIRE) -- Forge Nano, Inc. , a technology company pioneering domestic battery and semiconductor innovations, today announced the successful close of $40 million in new funding. The funding was co-led by RockCreek, a global investment firm managing over $15 billion in assets with a strong focus on energy innovation, critical supply chains and advanced manufacturing, and Ascent Funds, a US based global energy technology fund. Additional participants include Top Material (KRX: 360070), Orion Infrastructure Capital and Forge Nano’s existing investors.
With this latest raise, Forge Nano’s total capital investment now exceeds $140 million, adding RockCreek to a shareholder roster that includes GM Ventures (NYSE: GM), Volkswagen (OTC: VWAGY), LG Technology Ventures (KRX: 003550), Hanwha (KRX: 000880), Mitsui Kinzoku (OTC: MMSMY), Sumitomo Corporation of Americas (OTC: SSUMF), Air Liquide (OTC: AIQUY), Catalus Capital and SBI Investment (OTC: SBHGF).
“RockCreek’s commitment to American manufacturing, energy security and global technology leadership makes them an ideal partner as we continue to scale,” said Paul Lichty, CEO of Forge Nano. “This capital allows us to build on our momentum in two crucial industries needed for U.S. manufacturing leadership – lithium-ion batteries and semiconductors. We look forward to expanding our domestic workforce as we scale our production capabilities and grow our customer base.”
Forge Nano operates two high-growth business units that can directly impact the United States’ advanced manufacturing competitiveness:
- U.S.-Made, High-Performance Lithium-Ion Batteries:
Forge Battery , the commercial lithium-ion battery production subsidiary of Forge Nano, designs and manufactures lithium-ion cells with industry-leading energy density that incorporate critical minerals coated using Forge Nano’s Atomic Armor™ technology. Manufactured using a predominately U.S. material supply chain, the company’s battery products are tailored to provide a secure supply chain and industry leading performance for defense, aerospace and specialty applications. In January 2025, Forge Battery was awarded $100 million by the U.S. Department of Energy to expand domestic cell manufacturing at its North Carolina facility. - Advanced Semiconductor ALD Capital Equipment:
Forge Nano’s TEPHRA™ platform, launched in mid-2024, is the world’s fastest single-wafer semiconductor ALD coating tool with commercial throughput for 200mm wafers. TEPHRA™ produces cutting-edge nano-coatings that can unlock chips with 40% faster processing speeds with 50% reduced power consumption, addressing the industry’s growing demand for next-gen devices, sensors, and edge AI computing. The company’s atomic layer deposition (ALD) tools are engineered and built in the U.S., bolstering America’s domestic semiconductor capabilities.
“Forge Nano’s proprietary technology demonstrates that America continues to be the leader in innovation. Forge’s Atomic Armor significantly improves most battery chemistries with higher energy density, longer cycle life, faster charge speed, and lower risk of thermal runway,” said Mark Gordon, Managing Partner of Ascent Funds. “For semiconductors, Forge’s ALD removes a bottleneck to 3D chip stacking, allowing up to a 50% reduction in energy usage by chips. More efficient batteries are critical to national security. More efficient semiconductors will amplify the American lead in AI.”
Forge Nano recently installed a new state-of-the-art battery manufacturing line and a cleanroom production facility for semiconductor ALD tool production, both located at its Colorado headquarters. Forge Nano expects the $40 million investment will be utilized for further domestic manufacturing expansion, as well as to bolster its workforce to support the company’s growing network of strategic partners and customers.
For more information about Forge Nano, please visit www.forgenano.com .
About Forge Nano
Forge Nano is designing the future of material change. With proprietary ALD x technology, Forge Nano enables semiconductor fabs to conformally coat 200mm wafers for encapsulation, passivation, high- ? dielectric and metal barrier seed applications. Forge Nano’s team of scientists have worked with an expansive portfolio of commercial partners to develop custom solutions to meet any need at any scale, from small-scale R&D and laboratory work to large-scale, high-volume production. Learn more at https://www.forgenano.com
About Forge Battery
Forge Battery, a subsidiary of Forge Nano, is building better batteries for the world’s most demanding applications. The company intends to be the leading domestic battery supplier for specialty applications by utilizing Forge Nano’s Atomic Armor™ surface coating technology to enhance durability and performance of lithium-ion battery cells. Learn more at https://www.forgebattery.com
Media Contact:
Will McKenna
Brand Communications Director
Forge Nano
wmckenna@forgenano.com
(720) 432-6669
FAQ**
How does Forge Nano's partnership with General Motors Company GM and other investors enhance its ability to innovate in the lithium-ion battery market and improve energy independence?
In what ways will the $40 million funding round, led by RockCreek and Ascent Funds, specifically support Forge Nano's expansion of its domestic semiconductor manufacturing capabilities?
What unique advantages does Forge Nano's Atomic Armor™ technology offer in terms of performance and safety for batteries, and how does this align with General Motors Company GM's strategic goals in the EV market?
Can you elaborate on how the investments from major players like General Motors Company GM and RockCreek influence the competitive landscape of U.S. advanced manufacturing, particularly in energy technologies?
**MWN-AI FAQ is based on asking OpenAI questions about Mitsui Mining & Smelting Co Ltd ADR (OTC: MMSMY).
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