Forge Nano, which is developing US battery and semiconductor production, has closed a $40-million funding round to expand its manufacturing capacity.

The funding was co-led by investment firm RockCreek and Ascent Funds, a US-based energy technology fund. Additional participants included Top Material, Orion Infrastructure Capital and Forge Nano’s existing investors.

The company has now raised a total of more than $140 million from companies including GM Ventures, LG Technology Ventures, Hanwha, Mitsui Kinzoku, Sumitomo Corporation of Americas, Air Liquide, Catalus Capital and SBI Investment.

“This capital allows us to build on our momentum in two crucial industries needed for U.S. manufacturing leadership—lithium-ion batteries and semiconductors. We look forward to expanding our domestic workforce as we scale our production capabilities and grow our customer base,” said Paul Lichty, CEO of Forge Nano.

“Forge’s Atomic Armor improves most battery chemistries with higher energy density, longer cycle life, faster charge speed and lower risk of thermal runaway,” said Mark Gordon, Managing Partner of Ascent Funds. “For semiconductors, Forge’s ALD removes a bottleneck to 3D chip stacking, allowing up to a 50% reduction in energy usage by chips.”

The company recently installed a new battery manufacturing line as well as a cleanroom production facility for semiconductor ALD tool production at its Colorado headquarters.

Source: Forge Nano