GM Ventures has invested $10 million in Forge Nano, a materials science company specializing in Atomic Armor, an innovative electric vehicle (EV) battery technology. This investment raises Forge Nano’s total capital to over $100 million, with General Motors joining other shareholders such as Volkswagen, LG, Hanwha, and Mitsui Kinzoku.
In addition to the investment, GM and Forge Nano have entered a strategic partnership to utilize Forge Nano’s proprietary Atomic Layer Deposition (ALD) technology, known as Atomic Armor. This technology involves developing thin-film coatings to enhance GM’s cathode active materials. Forge Nano plans to build prototype lithium-ion battery cells at its Colorado headquarters to improve the performance and lifespan of GM’s EV batteries.
Atomic Armor is a surface coating applied to EV batteries that prevents corrosion, strengthens properties, and improves performance. This coating can increase the range by 20% and enable the battery to fast charge in 10 minutes.
The investment will support Forge Nano’s expansion of its battery material coating business, which includes in-house active material coating services, external equipment sales, and the production of Atomic Armor-powered battery cells. The company also aims to expand its presence in the semiconductor industry.
Forge Battery, the manufacturing division of Forge Nano, is preparing a 277,000-square-foot facility in Morrisville, North Carolina. This facility will manufacture ALD-enabled, high-performance (307 Wh/kg) NMC/Si-G 21700 lithium-ion cells. Additionally, Forge Battery has constructed a gigafactory in Raleigh, where it has begun producing and shipping 300 Wh/kg Atomic Armor-powered lithium-ion prototype cells. The company’s target markets include heavy trucking, off-road vehicles, motorcycles, and defence applications.
The Morrisville site aims to achieve a production capacity of 1 GWh per year by 2026. It plans to expand to 3 GWh annually by 2029, pending power availability from utility provider Duke Energy. Initially, Forge Battery’s supply chain will be 90% sourced from the United States to reach a 100% U.S. supply chain upon project completion. Components not yet manufactured domestically are currently sourced from South Korea.
As part of the Bipartisan Infrastructure Law, the U.S. Department of Energy has awarded Forge Battery $100 million to expand its production capacity to 3 GWh per year. A press conference with North Carolina Governor Roy Cooper (D-NC) and U.S. Department of Energy Secretary Jennifer Granholm was planned to announce the funding officially. However, it was cancelled due to Hurricane Helene’s arrival.
Source: GM News
