Forge Nano

What Forge Nano does

Forge Nano, Inc. is a materials engineering company that develops atomic-scale surface coatings using its patented ALDˣ (Atomic Layer Deposition) architecture, branded as the Atomic Armor™ platform. Founded as a spinout from the University of Colorado Boulder and headquartered in Thornton, Colorado with 101-250 employees, the company serves semiconductor manufacturers, lithium-ion battery producers, defense and aerospace OEMs, critical materials companies, and quantum hardware developers by applying uniform, pinhole-free, angstrom-thick coatings that address thermal instability, interface defects, and material degradation. Operations span the United States and Taiwan, and the company is going public via a SPAC merger with Archimedes Tech SPAC Partners II (Nasdaq: ATII) at an implied ~$1.2B pre-money valuation, expected to close in H2 2026 under the ticker 'NANO'.

The product portfolio is organized into three hardware lines. The Semi ALD Systems line comprises TEPHRA™, a 200mm single-wafer high-volume manufacturing cluster tool; TEPHRAOne™, an automated single-module pilot platform unveiled at SEMICON Taiwan; and THEIA™, a 75-200mm R&D-to-production bridge. The Powder ALD Systems line comprises LITHOS™ (1,000+ kg per batch, scaling to 10,000 kg/day), PROMETHEUS™ (1g-20kg pilot), and PANDORA™ (milligram-to-gram R&D reactor). The Lithium-Ion Batteries line is operated by wholly-owned subsidiary Forge Battery and includes 18650 cylindrical cells and the Supercell EV battery line for trucks, off-highway vehicles, and defense. Technology is protected by 200+ patents and is differentiated by demonstrated performance: 10x coating speed versus competitive ALD, 1000:1 aspect ratio defect-free coatings on production-representative wafers, 90-100% precursor chemical utilization, and up to 23% insertion loss reduction in silicon photonics.

Forge Nano operates a sales-led, B2B direct enterprise model. Revenue is generated through one-time sales of ALD equipment under quote-based purchase orders (50% down, 40% on Factory Acceptance Test, 10% on installation), recurring service plans and training, ALD coating services and process development, and direct sales of US-sourced lithium-ion cells. The company is privately held and has raised over $140 million in private capital from a syndicate including GM Ventures, Volkswagen, LG Technology Ventures, Hanwha Aerospace, Air Liquide, RockCreek, Ascent Funds, Mitsui Kinzoku, and SBI, plus a $100M U.S. Department of Energy grant, and is pursuing a $275M loan from the Pentagon's Office of Strategic Capital.

Name

Forge Nano

Legal name

Forge Nano, Inc.

Website

https://forgenano.com

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

101–250 employees

Short description

Forge Nano is a Colorado-based materials engineering company that applies atomic-scale ALD coatings (Atomic Armor™) to semiconductors, lithium-ion batteries, and defense hardware, serving enterprise and government customers via direct sales of equipment, services, and US-sourced battery cells.

Ownership category

akta.pro rank

Product category

Semiconductor Manufacturing Equipment

NAICS

Electroplating, Plating, Polishing, Anodizing, and Coloring (332813), Paint and Coating Manufacturing (32551), Paint and Coating Manufacturing (325510)

SIC

Coating, Engraving & Allied Services (3470), Paints, Varnishes, Lacquers, Enamels & Allied Prods (2851)

akta.pro primary industry

Deposition Equipment (CVD/PVD/ALD/Epitaxy) (HDAHAEAB)

akta.pro secondary industries

Industrial & Protective Coatings (IMAEAGAB), Deposition Precursors (CVD/ALD Precursors, Metalorganics) (IMAEAKAG)

Keywords

• Atomic layer deposition
• Nano-coating technology
• Semiconductor ALD systems
• Lithium-ion battery cells
• Powder ALD equipment

Headquarters

HQ city

Thornton

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Supply Chain, Infrastructure, Operations, Marketing or Sales

Revenue model

1. Equipment sales (ALD systems): One-time sales of standard and non-standard ALD equipment (TEPHRA, TEPHRAOne, THEIA, LITHOS, PROMETHEUS, PANDORA) under Purchase Orders. Payment terms: 50% down payment, 40% upon Factory Acceptance Test (FAT), 10% upon installation/training completion, payable in 30 days. Title transfers only upon full payment.
2. Lithium-ion battery cell sales: Direct sales of US-sourced lithium-ion 18650 cylindrical cells (e.g., Supercell) for defense, aerospace, grid storage, and mobility markets, including 100% US-sourced cells for US Department of Defense testing in 2025.
3. ALD coating services and process development: Sample/material coating services and process development engagements under Purchase Orders, including installation, training, and ongoing service plans; may use and license Forge Nano IP for application support.
4. Service plans and post-installation support: Recurring service plans and training services for installed Equipment, billed at then-applicable hourly rates under separate purchase orders after installation.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels10 records

Core offering

Forge Nano develops and commercializes its patented Atomic Armor nano-coating platform, powered by the proprietary ALDx architecture, which applies atomic-scale atomic layer deposition (ALD) coatings to wafers, powders, and battery materials. The company sells semiconductor ALD cluster tools (TEPHRA, TEPHRAOne, THEIA), powder ALD systems (LITHOS, PROMETHEUS, PANDORA), and US-sourced lithium-ion battery cells (including the Supercell line via its Forge Battery subsidiary), along with coating services and process development for semiconductor, energy storage, defense, and aerospace customers.

Product overview

Forge Nano operates a platform-plus-modules portfolio centered on its patented Atomic Armor™ coating technology, which is enabled by the proprietary ALDˣ architecture for atomic-scale surface engineering. The Atomic Armor platform powers three distinct hardware product lines: (1) Lithium-Ion Batteries, where subsidiary Forge Battery produces 18650 cells and the Supercell EV battery line using ALD-coated cathodes/anodes at the North Carolina gigafactory; (2) Semi ALD Systems for wafer fabrication, comprising the TEPHRA™ high-volume manufacturing cluster tool, the TEPHRAOne™ automated single-module pilot tool, and the THEIA™ R&D-to-production bridge; and (3) Powder ALD Systems for particle-level surface engineering, comprising the LITHOS™ high-volume industrial powder system, the PROMETHEUS™ pilot-scale tool, and the PANDORA™ discovery-scale R&D reactor. Together these products serve the semiconductors, energy storage, and defense & aerospace markets by delivering uniform, pinhole-free coatings that stabilize material interfaces, extend battery life, and enable next-generation chip architectures.

Differentiator

Problem solved

Functional benefit

Brands

• Forge Battery: Wholly-owned battery manufacturing subsidiary producing lithium-ion cells (including 18650 cylindrical and Supercell EV batteries) with integrated Atomic Armor coating technology; supplies 100% U.S.-sourced cells for the U.S. Department of Defense and operates the Morrisville, North Carolina gigafactory.
• Atomic Armor
• TEPHRA

Products and services

• Atomic Armor Platform Patented nano-coating platform built on Forge Nano's proprietary ALDx architecture, applying uniform, atom-scale protective layers one atom at a time through precise gas pulse and purge sequences. Reinforces surfaces for semiconductors, energy storage, defense, and aerospace, delivering higher energy density, faster-charging batteries, higher semiconductor yields, and improved high-temperature structural performance.
• TEPHRA 200mm Wafer ALD Cluster Tool High-Volume Manufacturing (HVM) cluster ALD platform for specialty semiconductor fabs on 200mm wafers and below, offering 10x throughput and 100x precursor chemical efficiency versus traditional ALD systems. Supports 4/6/8 sided modular cluster configurations and powers Forge Nano's 1000:1 aspect ratio high-speed ALD coating process for AI-era chips, 3D NAND, DRAM, and HBM.
• TEPHRAOne Single-Module Semiconductor ALD Tool Fully automated 200mm single-module ALD platform outfitted with flagship ALDx features in a streamlined configuration for process qualification. Offers single-wafer automation, 100% recipe transfer to full cluster tools, and SMFD-ALD enabled dynamic and coordinated control for high-speed ALD, with chemical utilization up to 90%.
• THEIA R&D-to-Production ALD Bridge Tool Fast, flexible, and field-upgradeable ALD tool designed for rapid material discovery and pilot validation, with flexible substrate handling from 75mm to 200mm and ultrafast deposition rates up to 100 Å/minute. Features proprietary fast pneumatic valves rated for 100 million cycles, bridging laboratory R&D recipes to production-scale cluster tools.
• LITHOS High-Volume Industrial Powder ALD System High-Volume Industrial powder ALD platform with a rotary batch architecture capable of processing 1,000+ kg per batch and scaling to 10,000 kg/day. Achieves competitive coating costs through 99% precursor utilization and optimized chemical economy, with fully integrated inert loading/unloading for 24/7 production of hermetically encapsulated battery materials, catalysts, metallurgy, defense powders, and polymers.
• PROMETHEUS Pilot-Scale Powder ALD System Pilot-scale powder ALD tool optimized for single gram to 20kg batches, featuring proprietary Jet Assist fluidization designed for cohesive and sensitive nano-powders. Includes a high-performance manifold and reactor heating up to 350°C, bridging lab-scale particle discovery with industrial pilot production.
• PANDORA R&D Discovery Powder ALD Tool 100ml rotary reactor for milligram to gram-scale particle discovery research, with continuous rotary motion ensuring 360° precursor exposure and up to 8 independent precursor inlets for complex nano-laminate structures. Engineered for gas, liquid, and solid precursor chemistries to accelerate the R&D cycle for new coatings.
• Lithium-Ion Battery Cells (Forge Battery) 18650 cylindrical lithium-ion battery cells produced by subsidiary Forge Battery using Atomic Armor coatings, delivering higher energy density, superior safety, faster charging, and longer cycle life. Manufactured with a U.S.-dominant material supply chain at the company's 3GWh Morrisville, NC gigafactory, backed by a $100M US Department of Energy grant. Includes the Supercell EV battery line targeting electric trucks, off-highway vehicles, and defense applications.
• ALD Coating Services and Process Development Sample/material coating services and process development engagements sold under Purchase Orders, including installation, training, and ongoing service plans, with potential use and licensing of Forge Nano IP for application support. Billed as part of equipment deployments or under separate service plans.

Quantifiable outcome

• 10x coating speed vs. competitive ALD capabilities for high aspect ratio coatings
• +6 more outcomes

Named customers8 records

Segments5 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature13 records

Partnerships

Seven partnerships are on record, tiered flagship — major commercial and capital anchor., major — joint product development agreement for battery-grade graphite., core — taiwan manufacturing partner., core — taiwan regional field service partner., major — technology validation partner., flagship — anchor government customer and funder. and major — national-lab research partner under crada..

• Samsung SDI Co.flagship — major commercial and capital anchor.Strategic or Co-development Partner · 25 June 2026Samsung SDI agreed to provide $20 million and engineering support to Forge Nano Inc. and to purchase American-made cells from Forge Nano's new Morrisville, NC plant. The deal enables Samsung to sidestep tariffs and comply with U.S. regulations purging Chinese materials from the military supply chain, while giving Forge Nano capital and manufacturing expertise to scale defense and aerospace battery production.
• Focus Graphite Inc.major — joint product development agreement for battery-grade graphite.Strategic or Co-development Partner · 9 April 2026Joint Product Development Agreement to evaluate Atomic Layer Deposition (ALD) coating technology on natural graphite from Focus Graphite's Lac Knife project in Quebec. Approximately 2 kilograms of Lac Knife graphite to be processed and tested across multiple coating conditions to generate performance data on cycle life, fast charging capability, and durability for battery applications.
• Manz Taiwancore — taiwan manufacturing partner.Strategic or Co-development Partner · 24 March 2026Joint development manufacturing partnership supporting Forge Nano's Taiwan engineering/service office and localization of TEPHRA and ALDx platforms into Taiwan's photonics ecosystem.
• LeadinWaycore — taiwan regional field service partner.Channel Partner/ Reseller/ Distributor · 24 March 2026Regional field service support partner for Forge Nano's Taiwan engineering and service office, enabling local installation, training and after-sales support for TEPHRA customers.
• C2MI (Canadian semiconductor process center)major — technology validation partner.Strategic or Co-development Partner · 5 February 2026Supplied production-representative wafers and independently validated conformality, defectivity, and electrical performance of Forge Nano's 1000:1 aspect ratio high-speed ALD breakthrough.
• US Department of Defenseflagship — anchor government customer and funder.Others · 6 August 2025Forge Nano is developing a 100% US-sourced 18650 lithium-ion cylindrical cell to replace foreign-sourced batteries for the US Department of Defense, with production in Thornton, Colorado and testing planned for 2025. Backed by a $100M U.S. Department of Energy grant and aligned with US military supply-chain regulations purging Chinese materials.
• Oak Ridge National Laboratory (ORNL)major — national-lab research partner under crada.Strategic or Co-development Partner · 21 April 2025Cooperative Research and Development Agreement (CRADA) partnership under which ORNL partnered with Forge Nano to construct larger battery cells and validate performance of ALD oxide coatings on battery separators and electrode materials at DOE's Battery Manufacturing Facility.

Scale indicators12 records

Recent moves10 records

Expansion highlights8 records

Direct peers

• Oxford Instruments: Oxford Instruments' Plasma Technology division sells ALD and etch tools for semiconductors, MEMS, and photonics — directly comparable to Forge Nano's TEPHRA/TEPHRAOne/THEIA product line serving similar specialty fab customers with similar single-wafer and cluster ALD architectures.
• Beneq: Beneq is a Finland-based specialist in ALD equipment for both wafer and powder applications, closely mirroring Forge Nano's dual semi/powder ALD portfolio and competing for the same R&D-to-production customer base in batteries, photonics and advanced materials.
• Veeco Instruments: Veeco provides deposition and ALD systems for specialty semiconductor and photonics manufacturing, making it a direct peer for TEPHRA-class wafer-level ALD tools targeting compound semiconductors, advanced packaging, and AI hardware.

Broad incumbents

• Applied Materials: Applied Materials is the dominant incumbent in semiconductor deposition (including ALD through its Picosun acquisition) and competes head-on with Forge Nano's TEPHRA family for HVM wafer fab sockets, while bringing a vastly larger installed base and R&D budget.
• Lam Research: Lam Research is a top-tier semiconductor equipment incumbent with strong ALD and deposition product lines for memory (3D NAND, DRAM, HBM) and logic, directly overlapping with the high-aspect-ratio ALD applications Forge Nano targets.
• Tokyo Electron: Tokyo Electron is a leading Japanese semiconductor equipment maker with deep ALD and deposition capabilities serving the same advanced-node logic and memory customers that Forge Nano's TEPHRA platform is positioned to address.

Regional players

• Aixtron: Aixtron is a European deposition equipment specialist (MOCVD/CVD) serving compound semiconductor and photonics customers — overlapping with Forge Nano's photonics and power-device use cases but with a different deposition chemistry and regional footprint.

Emerging players

• Sila Nanotechnologies: Sila Nanotechnologies develops advanced silicon-dominant anode battery materials that improve energy density and cycle life — directly comparable to Forge Battery's Atomic Armor-coated cathode/anode materials for next-generation lithium-ion cells, and similarly backed by automotive strategic investors.
• Solid Power: Solid Power is a CU Boulder spinout developing solid-state batteries with automotive partnerships (BMW, Ford, Samsung SDI), making it a comparable emerging battery technology peer — though targeting solid-state rather than ALD-coated lithium-ion chemistry.
• Group14 Technologies: Group14 produces silicon battery anode materials (SCC55™) that improve lithium-ion energy density — competing with Forge Battery for the same automotive and grid-storage customers seeking higher-performance cells through advanced materials engineering.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UC6tmrBjJw8l7IyR_ghWOlFw
• LinkedInlinkedin.com/company/forge-nano
• Xx.com/forgenano
• Facebookfacebook.com/forgenano

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries1 record

Funding overview

Funding rounds10 records

Investors11 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Forge Nano