Defense & Geopolitical Fragmentation▲impact 4
Forge Nano breaks ground on U.S. battery gigafactory expansion
Forge Nano has broken ground on a major expansion of its lithium-ion battery manufacturing facility in Morrisville, North Carolina, backed by up to $100 million in non-dilutive funding from the U.S. Department of Energy. The expansion will grow the existing 100,000-square-foot operation into a campus approaching 315,000 square feet, create more than 250 jobs, and establish approximately 3 gigawatt-hours of annual battery cell manufacturing capacity at full production, with production expected to begin in 2028. The facility is designed to address U.S. dependence on foreign-controlled battery supply chains for defense and aerospace applications, and its timing aligns with new National Defense Authorization Act battery sourcing requirements taking effect in 2028. Samsung SDI is supporting the project through operational expertise, a conditional procurement agreement for cells beginning in 2028, and a $20 million strategic investment made in July, including $10 million in Series D financing and $10 million in PIPE financing tied to Forge Nano's planned public listing via merger with Archimedes Tech SPAC Partners II Co.
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Defense & Geopolitical Fragmentation › Defense Industrial Base — Strategic Materials & Components ▲Supply
Critical Materials & Supply Chain › Lithium ▲Supply
Energy Transition & Power Demand › Energy Storage & Grid Flexibility ▲Supply
ATII · Capital · Positive Forge Nano's planned public listing via merger with Archimedes Tech SPAC Partners II Co. is supported by a $20M strategic investment from Samsung SDI, including $10M in PIPE financing tied to the merger.
006400.KO · Demand · Positive Samsung SDI has a conditional procurement agreement for cells beginning in 2028 and a $20M strategic investment, indicating demand for Forge Nano's battery cells.