SHERIDAN, WYOMING – October 29, 2024 – General Motors is investing $10 million in Forge Nano, Inc., a world-leading materials science company, to explore using cutting-edge technology to improve the performance of electric vehicle (EV) batteries.
GM Ventures, the automaker’s venture capital subsidiary, is making the investment. At the same time, GM and Forge Nano have entered a strategic partnership agreement to collaborate on new battery technologies.
“GM Ventures’ primary goal is to bring disruptive technology into the GM ecosystem to improve products and processes,” said Anirvan Coomer, managing director of GM Ventures. “Forge Nano’s Atomic Armor technology has game-changing potential for our battery materials. They have already demonstrated the ability to expand cathode capabilities, which is the most expensive battery cell component. This could unlock benefits for both customers and the business.”
Forge Nano, headquartered in Thornton, Colorado, specializes in atomic layer deposition (ALD), a process for applying thin-film coatings to battery materials one atom at a time to boost performance and longevity.
Under the agreement, Forge Nano will use its ALD technology, known as Atomic Armor™, to develop thin-film coatings for GM to help improve battery cell performance and lower EV costs. Forge Nano will also build prototype lithium-ion battery cells at its headquarters to showcase the technology’s capabilities.
"Forge Nano's mission is to make better materials for a better world," said Paul Lichty, CEO of Forge Nano. "General Motors' investment will allow us to further enhance battery material performance and durability, while allowing us to expand our footprint in other key areas – like semiconductors. We look forward to working closely with GM to enhance battery cell performance for future electric vehicles."
GM’s investment will also help Forge Nano scale its technology and expand its business in battery materials coating and semiconductors.
About General Motors
General Motors (NYSE:GM) is a global company focused on advancing an all-electric future that is inclusive and accessible to all. At the heart of this strategy is the Ultium battery platform, which powers everything from mass-market to high-performance vehicles. General Motors, its subsidiaries and its joint venture entities sell vehicles under the Chevrolet, Buick, GMC, Cadillac, Baojun and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety and security services, can be found at https://www.gm.com.