Forge Nano on Tuesday announced that it intends to enter the battery manufacturing space with the launch of a lithium-ion battery manufacturing business called Forge Battery.
The company, which specializes in nano-coating technology, said it and unnamed outside investors plan to spend more than $165 million to build a battery manufacturing facility in Morrisville, North Carolina, near Raleigh.
It intends to produce high-energy and high-power lithium-ion battery cells for the defence, aerospace, and specialty electric vehicle markets at the Forge Battery Facility.
The facility will produce both 21700 and 18650 lithium-ion cells using materials coated with Forge Nano’s Atomic Armor surface technology.
A groundbreaking event is expected in the first half of 2024 with the production anticipated to commence in 2026, the company said.
“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,” Forge Nano CEO Paul Lichty said.
“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.”
North Carolina will be supporting the development with about $8 million in incentives.
“North Carolina’s growing leadership in clean energy can be seen everywhere you look, and Forge Battery’s decision continues our momentum,” North Carolina Governor Roy Cooper said.
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