Summary
- Forge Nano received a $10 million investment from GM Ventures to develop battery coating technology
- This adds to their previous funding of more than $50 million from various investors
- The investment will help Forge Nano enhance their Atomic Armor platform technology for coating materials
- General Motors and Forge Nano have signed a strategic partnership agreement to potentially use Atomic Armor technology for GM’s EV battery cells
- Forge Nano plans to expand their battery material coating business and work closely with GM to enhance battery cell performance
Article
Forge Nano, a materials science company, has received a $10 million investment from GM Ventures, the venture arm of General Motors, to further develop its battery coating technology. This investment adds to Forge Nano’s previous $50 million Series C funding round, with participation from various other companies. In total, Forge Nano has raised over $100 million, with investments from Volkswagen, Mitsui Kinzoku, LG Technology Ventures, Sumitomo, Air Liquide, and SBI Investment. The GM Ventures investment will help Forge Nano enhance its Atomic Armor platform technology, which can apply thin coatings to materials or objects to improve performance and durability.
The funding from GM Ventures will enable Forge Nano to enhance its battery material coating business, including providing in-house active material coating services, external equipment sales, and production of Atomic Armor-powered battery cells. Additionally, Forge Nano plans to expand its presence in the semiconductor industry. General Motors and Forge Nano have also signed a strategic partnership agreement, with the possibility of using Atomic Armor equipment to coat cathode active materials for GM’s EV battery cells. The goal is to improve performance and lifetime of GM’s electric vehicle batteries with the development of thin-film coatings.
Forge Nano intends to develop thin-film coatings that will enhance GM’s cathode active materials and showcase Atomic Armor’s capabilities by building prototype lithium-ion battery cells at its Colorado headquarters. This collaboration with GM will allow Forge Nano to further enhance battery material performance and durability while expanding its presence in key areas like semiconductors. The CEO of Forge Nano, Paul Lichty, expressed excitement and anticipation for the partnership with GM to enhance battery cell performance for future electric vehicles. The strategic investment from GM Ventures will play a significant role in advancing Forge Nano’s technology and expanding its reach in various industries.
The $10 million investment from GM Ventures adds to Forge Nano’s existing funding and will enable the company to continue developing its battery coating technology, with a focus on enhancing performance and durability. Forge Nano aims to leverage its Atomic Armor platform technology to improve the performance of battery materials and expand its presence in the semiconductor industry. The collaboration with General Motors will involve the development of thin-film coatings to enhance GM’s cathode active materials, ultimately improving the performance and lifetime of electric vehicle batteries. This partnership signifies a significant step forward for Forge Nano in advancing its technology and capabilities.
The partnership between General Motors and Forge Nano represents a strategic collaboration in developing advanced battery coating technology. The $10 million investment from GM Ventures will support Forge Nano in enhancing its Atomic Armor platform technology and expanding its battery material coating business. By working closely with GM, Forge Nano aims to improve battery cell performance for future electric vehicles while also exploring opportunities in the semiconductor industry. This partnership highlights the potential for innovative advancements in battery technology and positions Forge Nano as a key player in the development of cutting-edge materials science solutions for various industries.
Read the full article here
