Forge Nano, a Denver, CO-based technology company developing domestic battery and semiconductor solutions, raised $40M in new funding.
The round was led by RockCreek and Ascent Funds. Additional participants included Top Material (KRX: 360070), Orion Infrastructure Capital and existing investors.
The company intends to use the funds to further domestic manufacturing expansion, as well as to bolster its workforce to support its growing network of strategic partners and customers.
Led by CEO Paul Lichty, Forge Nano provides a proprietary ALDx technology that enables semiconductor fabs to conformally coat 200mm wafers for encapsulation, passivation, high-κ dielectric and metal barrier seed applications.
It operates two high-growth business units:
- Forge Battery, the commercial lithium-ion battery production subsidiary of Forge Nano, designs and manufactures lithium-ion cells with energy density that incorporate critical minerals coated using Forge Nano’s Atomic Armor technology.
- The TEPHRA platform, launched in mid-2024, is a single-wafer semiconductor ALD coating tool with commercial throughput for 200mm wafers.
With this latest raise, its total capital investment now exceeds $140M, 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).
FinSMEs
29/04/2025