Hanwha Aerospace Invests in US Startup "Forge Nano" for Battery Life Extension Technology
(June 12, 2023) – Hanwha Aerospace has invested in the US startup Forge Nano, which boasts precision a nano-coating technology to extend the lifespan of secondary batteries. Forge Nano is led by Paul Lichty.According to officials, this investment aims to expand synergies with the environmentally friendly propulsion system and energy storage system (ESS) business that can be applied to Urban Air Mobility (UAM) submarines and commercial vessels.
Hanwha Aerospace participated as a lead investor in Forge Nano’s Series C investment round, along with US investment firms Orion Infrastructure Capital (OIC), Catalus Ventures, and Ascent Funds. The total investment amount raised by Forge Nano is $50 million (approximately KRW 66.4 billion won).
Based on the raised investment, Forge Nano plans to not only invest in the development of existing material technologies but also commence the construction of a 1 GWh-scale secondary pilot plant this year. This pilot plant will utilize technologies applied to energy storage systems (ESS) for various sectors such as aviation, defense, and automotive industries.
Founded in 2011 at the University of Colorado’s research laboratory, Forge Nano is a specialist in the field of coating secondary battery materials to enhance their longevity. The company’s primary focus lies in the development of lithium-ion battery production facilities that incorporate nano-coating machines through pre-processing procedures. In recognition of its rapid growth, Forge Nano was honored as one of the notable companies in North America in the 2022 Deloitte Technology Fast 500™ ranking.
Hanwha Aerospace participated as a lead investor in Forge Nano’s Series C investment round, along with US investment firms Orion Infrastructure Capital (OIC), Catalus Ventures, and Ascent Funds. The total investment amount raised by Forge Nano is $50 million (approximately KRW 66.4 billion won).
Based on the raised investment, Forge Nano plans to not only invest in the development of existing material technologies but also commence the construction of a 1 GWh-scale secondary pilot plant this year. This pilot plant will utilize technologies applied to energy storage systems (ESS) for various sectors such as aviation, defense, and automotive industries.
Founded in 2011 at the University of Colorado’s research laboratory, Forge Nano is a specialist in the field of coating secondary battery materials to enhance their longevity. The company’s primary focus lies in the development of lithium-ion battery production facilities that incorporate nano-coating machines through pre-processing procedures. In recognition of its rapid growth, Forge Nano was honored as one of the notable companies in North America in the 2022 Deloitte Technology Fast 500™ ranking.
