GM Ventures invests $10 million in Forge Nano to scale Atomic Armor technology for battery materials through wider collaboration with General Motors.

General Motors' venture capital arm, GM Ventures, has an invested $10 million in material performance optimization leader, Forge Nano. With a successful $50 million Series C fund raise led by key investors, Hanwha, Orion Infrastructure Capital, and Catalus Capital, this investment joins an over $100 million total funding raised by the company.

‘Forge Nano’s Atomic Armor technology has game changing potential for our battery materials at scale,’ said Anirvan Coomer, managing director of GM Ventures. The technology aims to improve the performance and lifespan of battery components, including cathodes, which make up the most expensive part of the battery cell.

Forge Nano intends to spend the funds to continue to develop its Atomic Armor technology, a surface coating thinness approach for improving material properties. Forge Nano’s high through put coating equipment will be used under collaboration with GM to coat GM’s electric vehicle (EV) battery cells.

Forge Nano also extends its battery material coating services but is also entering the semiconductor market. 'This investment from General Motors will improve battery material performance and help us grow in areas of importance,' said CEO Paul Lichty.

Forge Battery, Forge Nano's battery manufacturing division, is also moving ahead, having successfully negotiated a $100 million award from the US Department of Energy to scale up operations. To produce high energy lithium ion battery cells the company will open a Gigafactory in Raleigh, North Carolina.