DENVER, Nov. 14, 2023 (GLOBE NEWSWIRE) -- Forge Nano, Inc., a leading materials science company that enables peak performance products through atomic-level surface engineering, today announced plans to launch a lithium-ion battery manufacturing business called Forge Battery. The newly formed company intends to produce best-in-class high-energy and high-power lithium-ion battery cells for defense, aerospace and specialty electric vehicle markets at a newly constructed Gigafactory in Raleigh, North Carolina. Forge Battery plans to utilize a U.S-focused battery material supply chain to further bolster the domestic battery ecosystem and reduce reliance on foreign suppliers.
The company and outside investors plan for an initial investment of more than $165M in Morrisville, North Carolina to build the gigawatt hour-scale battery manufacturing facility. The Forge Battery facility expects to produce both 21700 and 18650 lithium-ion cells utilizing materials coated with Forge Nano’s Atomic Armor surface technology.
Forge Nano’s Atomic Armor will allow Forge Battery to produce first generation high-energy cells with an expected energy density of 300 Wh/kg with improved safety and extended lifetime that meet or beat performance of incumbent lithium-ion technologies. Because Atomic Armor can enhance the performance of existing and next-generation battery technologies, Forge Battery expects its cell technology to outperform current and future cell chemistries. Atomic Armor is also being used to improve production efficiency and drive down cell costs by removing electrolyte additives and reducing electrolyte consumption. The facility expects to begin production in 2026.
“Lithium-ion cells utilizing Forge Nano’s Atomic Armor technology have exceeded our customer’s expectations, and in turn, increased demand for the technology that outstrips the current manufacturing capabilities,” says Paul Lichty, CEO of Forge Nano. “We are extremely excited to launch Forge Battery in the Battery Belt, where we intend to produce batteries for the world’s most demanding applications, while showcasing the power of Forge Nano’s Atomic Armor coating equipment in a large-scale manufacturing environment.”
Forge Battery’s North Carolina facility will be facilitated, in part, by a Job Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee. The JDIG agreement authorizes the potential reimbursement of up to $1,525,500, spread over 12 years. Forge Battery also expects to receive an additional $6,500,000 from the state of North Carolina based on its current investment projections, which include sales tax exemptions on planned capital investment.
“North Carolina’s growing leadership in clean energy can be seen everywhere you look, and Forge Battery’s decision continues our momentum,” said North Carolina Governor Roy Cooper. “New jobs, new investment, and new opportunities for our people are coming fast as we embrace this vital new sector of the global economy.”
Forge Battery’s facility is expected to create hundreds of high-paying jobs for Wake County residents. Although wages will vary depending on the position, the payroll impact for the project is expected to be more than $16 million each year. Through the JDIG agreement, new tax revenue generated through Forge Battery’s operation will go toward helping economically challenged communities throughout the state.
Forge Battery and local North Carolina officials are planning a groundbreaking event in the first half of 2024. To learn more about Forge Battery and its plans in North Carolina, please sign up to the company’s newsletter via the Forge Battery website at https://www.forgebattery.com
About Forge Nano
Forge Nano is changing the way products perform. With our proprietary Atomic Armor™ technology, we enable product developers to engineer any material down to the individual atom. The superior surface coatings produced by our Atomic Armor™ process allow our partners to unlock peak performance of any material, optimizing products to last longer, cost less and increase safety. Our team of scientists have worked with an expansive portfolio of commercial partners to develop custom solutions to meet any need at any scale, from small-scale R&D and laboratory work to large-scale, high-volume production. Learn more at https://www.forgenano.com
Contact
Will McKenna
Brand Communications Director for Forge Nano
wmckenna@forgenano.com
(720) 432-6669
