LOUISVILLE, CO – Forge Nano, formerly PneumatiCoat Technologies, a Colorado-based startup that has innovated a breakthrough technology to enable precision nano-coatings at scale for manufacturing, has closed a Series A investment of $20 million to expand its manufacturing capacity.
Townsend Capital LLC, a privately held investment company that funds emerging technologies in the energy sector, led the investment round.
According to Paul Lichty, founder and CEO of Forge Nano, “We are thrilled to have an investment partner with an established track record share our vision and help us accelerate our development to integrate this technology into commercial products.”
Forge Nano was founded in 2013 by three Ph.D.s whose research revolutionized nano-coating technology. Previously too expensive, slow and complex for conventional product manufacturing, the group made nano-coatings fast, affordable and scalable. A nano-coating is an ultra-thin layer that improves how materials perform by engineering surface interfaces one atom at a time. These coatings can be designed to meet customer specifications for a variety of benefits from corrosion resistance to improving viscosity and conductivity.
Forge Nano’s business plan initially focuses on growth in the lithium-ion battery sector, where the company’s proprietary technology is already resulting in improvements in battery performance, longevity, safety and cost. The company's coatings can increase cathode material lifetimes more than 250 percent while enabling larger capacity battery chemistries. To meet customer demand, Forge Nano will immediately use its financing to relocate to a new 12,000-square-foot facility in Louisville, Colorado, and increase manufacturing capacity from the current 30-ton-per-year pilot plant to a 300-ton-per-year light commercial production plant. In 2017, Forge Nano is set to start on a 3,000-ton-per-year heavy commercial production plant capable of meeting demand volumes and price points for large-scale integration into the lithium-ion market. Development will also be accelerated in other markets including catalysts, fuel cells and other advanced materials opportunities.
“Our new company name, Forge Nano, embodies our vision to enable materials solutions that will change the world,” said Lichty. “We are focused and well-positioned for accelerated growth as we push the boundaries of nano-coating technology and manufacturing to create a new class of advanced materials that will impact all industries around the world.”