Forge Nano receives $40M to scale US battery and semiconductor production
May 7, 2025
Forge Nano, based in Denver, Colorado, USA, has announced the successful close of $40 million in new funding, bringing its total capital investment to over $140 million. Building on recent installations of a state-of-the-art battery manufacturing line and a cleanroom production facility for semiconductor ALD tool production at its headquarters, the company plans to use the latest $40 million investment for further domestic manufacturing and workforce expansion.
“RockCreek’s commitment to American manufacturing, energy security and global technology leadership makes them an ideal partner as we continue to scale,” said Paul Lichty, CEO of Forge Nano. “We look forward to expanding our domestic workforce as we scale our production capabilities and grow our customer base.”
The latest funding was co-led by RockCreek and Ascent Funds, with additional participation from Top Material, Orion Infrastructure Capital and Forge Nano’s existing investors. In total, the company has seen investment from GM Ventures, Volkswagen, LG Technology Ventures, Hanwha, Mitsui Kinzoku, Sumitomo Corporation of Americas, Air Liquide, Catalus Capital and SBI Investment.
Forge Battery
The commercial lithium-iron production subsidiary of Forge Nano, Forge Battery designs and manufactures lithium-ion cells that incorporate critical minerals coated via Forge Nano’s Atomic Armor technology.
Manufactured using a predominantly US material supply chain, the company’s battery products are tailored in an effort to provide a secure supply chain and strong performance for defence, aerospace and specialty applications. In January 2025, Forge Battery received $100 million from the US Department of Energy (DoE) to expand cell manufacturing at the company’s North Carolina facility.
The TEPHRA platform
Forge Nano’s TEPHRA platform, launched in mid-2024, is described by the company as ‘the world’s fastest single-wafer semiconductor atomic layer deposition coating tool with commercial throughput for 200 mm wafers.’ TEPHRA produces nano-coatings reportedly capable of producing chips with 40% faster processing speeds in an effort to address the industry’s growing demand for state-of-the-art devices, sensors, and edge AI computing. The company’s ALD tools are engineered and built in the US.
“Forge Nano’s proprietary technology demonstrates that America continues to be the leader in innovation. Forge’s Atomic Armor significantly improves most battery chemistries with higher energy density, longer cycle life, faster charge speed, and lower risk of thermal runaway,” explained Mark Gordon, Managing Partner of Ascent Funds. “For semiconductors, Forge’s ALD removes a bottleneck to 3D chip stacking, allowing up to a 50% reduction in energy usage by chips. More efficient batteries are critical to national security. More efficient semiconductors will amplify the American lead in AI.”
