Forge Nano Enters Battery Manufacturing Business

Forge Nano to Launch Battery Manufacturing in US; North Carolina Gigafactory Expected Online in 2026

Forge Nano, Inc., a leading materials science company providing high-performance products through atomic-level surface engineering, has announced plans to launch a lithium-ion battery manufacturing operation under the name Forge Battery. The newly established company aims to produce best-in-class high-energy and high-power lithium-ion battery cells for defence, aerospace and specialty electric vehicle markets at a newly constructed Gigafactory in Raleigh, North Carolina. Forge Battery plans to utilize a US-focused battery materials supply chain to further strengthen the domestic battery ecosystem and reduce dependence on foreign suppliers. The company and external investors are planning an initial investment of over USD 165 million to construct the gigawatt-hour scale battery production facility in Morrisville, North Carolina. The Forge Battery facility plans to produce both 21700 and 18650 lithium-ion cells using materials coated with Forge Nano's Atomic Armor surface technology. Forge Nano's Atomic Armor will enable Forge Battery to produce first-generation high-energy cells with expected energy density of 300 Wh/kg and will offer advanced safety and extended cycle life that meets or exceeds the performance of existing lithium-ion technologies. Because Atomic Armor can enhance the performance of current and next-generation battery technologies, Forge Battery expects the cell technology to deliver better performance than current and future cell chemistries. Atomic Armor is also being used to increase manufacturing efficiency and reduce cell costs by eliminating electrolyte additives and reducing electrolyte consumption. The facility is expected to begin production in 2026. Forge Nano CEO Paul Lichty stated, "Lithium-ion cells using Forge Nano's Atomic Armor technology have exceeded our customers' expectations, and this has increased demand for the technology that outpaces current production capacity. "We are extremely excited to bring Forge Battery to market in the Battery Belt, where we aim to manufacture batteries for the world's most demanding applications, while demonstrating the power of Forge Nano's Atomic Armor coating equipment in a large-scale manufacturing environment." Forge Battery's North Carolina facility will be supported in part by a Job Development Investment Grant (JDIG) approved by the state's Economic Investment Committee. The JDIG agreement allows for potential reimbursement of up to USD 1,525,500 over 12 years. Forge Battery also expects to receive an additional USD 6,500,000 from the State of North Carolina, based on current investment projections that include sales tax exemptions on planned capital investments. North Carolina Governor Roy Cooper stated, "North Carolina's growing leadership in clean energy is visible everywhere you look, and Forge Battery's decision sustains our momentum. As we embrace this vital new sector of the global economy, new jobs, new investments and new opportunities for our people are coming rapidly. The Forge Battery facility is expected to create hundreds of high-wage jobs for Wake County residents. While salaries will vary depending on position, the project's annual payroll impact is expected to exceed USD 16 million. Through the JDIG agreement, new tax revenue generated from Forge Battery's operations will support economically disadvantaged communities across the state. Forge Battery and local North Carolina officials are planning a groundbreaking event in the first half of 2024.