Forge Nano, a Denver, CO-based precision nano-coating technology company, raised US$50M+M in funding.
The round, which brought the total amount to $95M, was led by Korea’s Hanwha Corporate Venture Capital with participation from OIC, Catalus Capital, Ascent Funds and existing investors.
The company intends to use the funds to accelerate growth of its commercial-scale nanotechnology opportunities for battery material as well as develop a battery production line to satisfy full-scale, premium battery contracts.
Led by CEO Paul Lichty, Forge Nano provides proprietary Atomic Armor technology that allows manufacturers to engineer their materials, down to the individual atom, in a way that is scalable and cost saving. The coatings produced by its Atomic Armor process work to a material’s performance at the atomic level, optimizing battery characteristics like range, safety, and cycle life, to name a few.
Over the last year, the company has signed key strategic partnerships with leading U.S. producers of materials and battery off-takers that demonstrate the capabilities of its proprietary nanocoating technology to create next-generation batteries and strengthen the U.S. domestic battery supply chain.
Plans are underway to launch construction of the pilot battery production line in Q2 2023 that will support applications including aerospace, consumer electronics, defense and more.
FinSMEs
06/06/2023