Listen to this article
Forge Nano has raised $40 million to expand its U.S.-based operations in lithium-ion battery production and semiconductor ALD equipment. The funding round, led by RockCreek and Ascent Funds, brings total investment to over $140 million and supports growth in manufacturing and workforce. Key technologies include Atomic Armor™ coatings for batteries and the TEPHRA™ ALD platform for faster, energy-efficient chips.
A Bold Bet on American Tech Manufacturing
Forge Nano, a Denver-based technology company, has secured $40 million in new funding to expand its domestic operations in lithium-ion battery production and semiconductor manufacturing. The funding round, announced on April 29, 2025, was co-led by RockCreek and Ascent Funds. RockCreek, which manages over $15 billion in assets, has a stated focus on energy innovation and critical supply chains. Ascent Funds is a U.S.-based energy technology investor.
This latest funding brings Forge Nano’s total capital raised to over $140 million. The company stated that the new investment will support the expansion of its production capabilities and workforce across two business lines seen as critical to U.S. manufacturing competitiveness: lithium-ion batteries and advanced semiconductor tools.
Who’s Backing the Future of Energy and Electronics?
The investor group in this round included both new and existing backers. In addition to RockCreek and Ascent Funds, participants included:
- Top Material (KRX: 360070)
- Orion Infrastructure Capital
- Existing investors such as: GM Ventures (NYSE: GM), Volkswagen (OTC: VWAGY), LG Technology Ventures (KRX: 003550), Hanwha (KRX: 000880), Mitsui Kinzoku (OTC: MMSMY), Sumitomo Corporation of Americas (OTC: SSUMF), Air Liquide (OTC: AIQUY), Catalus Capital, SBI Investment (OTC: SBHGF)
The participation of major automotive and industrial players underlines the strategic value seen in Forge Nano’s technologies. Paul Lichty, CEO of Forge Nano, emphasized the alignment between RockCreek’s investment priorities and the company’s mission to advance U.S.-based manufacturing in two critical sectors.
Inside Forge Nano’s Battery Game Plan
Forge Battery, a subsidiary of Forge Nano, specializes in the design and manufacture of high-performance lithium-ion cells. These cells are developed using a largely U.S.-based supply chain and incorporate Forge Nano’s proprietary Atomic Armor™ surface coating. This coating technology is engineered to improve energy density, thermal stability, charge rate, and cycle life.
In January 2025, Forge Battery received a $100 million award from the U.S. Department of Energy to expand cell manufacturing capacity at its North Carolina facility. This initiative is focused on supplying defense, aerospace, and specialty applications with secure, high-performance battery systems.
Recommended: Needle Connects All Your Work Apps Into One Smart, Action-Driven Chat Interface
Breaking Barriers in Semiconductor Tooling
Forge Nano’s TEPHRA™ platform, introduced in mid-2024, is a single-wafer atomic layer deposition (ALD) tool designed for 200mm wafers. The system offers industry-scale throughput and enables nano-coating production that supports faster and more efficient chips.
According to the company, TEPHRA™ can enable processing speeds that are up to 40% faster while reducing chip power consumption by up to 50%. These performance metrics are relevant to applications in edge AI, next-generation sensors, and high-density logic devices. The ALD equipment is developed and assembled at Forge Nano’s U.S. facilities.
Colorado as a Tech Manufacturing Hub
Forge Nano has established new manufacturing lines and cleanroom facilities at its headquarters in Colorado. The state-of-the-art installations support both lithium-ion battery production and semiconductor ALD tool assembly.
The company indicated that the recent funding will be used to grow its domestic production footprint and increase staffing levels to meet demand from its strategic partners and customers. This expansion adds to regional capacity for advanced manufacturing and positions Colorado as a contributor to national supply chain stability.
What This Means for U.S. Competitiveness
The company’s dual focus on lithium-ion battery technology and semiconductor fabrication tools directly supports national energy security and domestic chip production capabilities. Ascent Funds Managing Partner Mark Gordon stated that Forge Nano’s ALD innovations could remove a bottleneck in 3D chip stacking, leading to a significant reduction in energy usage.
Gordon also pointed to the potential of Atomic Armor™ to enhance the performance and safety of a wide range of battery chemistries, which he described as critical for national security. CEO Paul Lichty said that expanding U.S. capacity in these sectors aligns with long-term strategic goals for manufacturing leadership.
Pushing the Limits of What’s Possible in Materials Science
With over $140 million now raised, Forge Nano is advancing projects that support U.S. goals in clean energy, defense readiness, and semiconductor independence. The company’s vertically integrated approach, encompassing both energy storage and nanoscale coatings for chips, places it at the intersection of two vital industrial areas.
Its technologies are built on a foundation of domestic production and engineering expertise, reflecting a broader shift toward localized, resilient tech supply chains.
Please email us your feedback and news tips at hello(at)dailycompanynews.com
