Forge Nano, Inc., a US-based technology company specializing in lithium-ion batteries and semiconductor manufacturing, has announced the completion of $40 million in new funding.
The round was co-led by RockCreek, a global investment firm focused on energy innovation and critical supply chains, and Ascent Funds, an American–based energy technology fund. Additional participants include Top Material, Orion Infrastructure Capital, and existing investors.
Forge Nano operates two business units that contribute to domestic supply chain resilience in battery and semiconductor markets, both relevant to electric vehicles (EVs) and advanced electronics:
1. Lithium-Ion battery manufacturing:
Through its subsidiary Forge Battery, the company designs and manufactures high-performance lithium-ion cells using a predominantly American materials supply chain. These batteries integrate Forge Nano’s proprietary Atomic Armor coating technology and are used in defense, aerospace, specialty, and emerging EV applications.
In January 2025, the US Department of Energy awarded Forge Battery $100 million to support domestic cell manufacturing expansion at its North Carolina facility.
2. Semiconductor ALD equipment:
The TEPHRA platform, introduced in mid-2024, is a single-wafer atomic layer deposition (ALD) tool developed for 200mm semiconductor wafers. It delivers high-throughput nano-coatings aimed at reducing power consumption and increasing processing speed, supporting applications in edge computing and AI.
These tools are designed and produced at the company’s headquarters in Colorado, and can be used in EVs, particularly for ADAS (advanced driver-assistance systems), power management, sensors, and edge AI applications.
The new investment brings Forge Nano’s total capital raised to over $140 million. The company’s shareholder base includes GM Ventures, Volkswagen (OTC: VWAGY), LG Technology Ventures, Hanwha, Mitsui Kinzoku, Sumitomo Corporation of Americas, Air Liquide (OTC: AIQUY), Catalus Capital, and SBI Investment.
Forge Nano recently completed installation of a new battery manufacturing line and a semiconductor cleanroom facility at its Colorado site. The $40 million in funding will support continued domestic manufacturing expansion and workforce growth.
Filed Under: Batteries, Technology News