International. The Volkswagen Group confirmed that it is investing US$10 million in the startup "Forge Nano Inc." in order to reinforce its specialized knowledge in the field of battery research. Forge Nano is researching a material coating technology that could further improve the performance of battery materials.
As a partner, Volkswagen will provide assistance for industrial testing of this technology. The transaction is still subject to approval by the authorities.
Volkswagen has been collaborating with Forge Nano on advanced battery materials research since 2014. The Louisville, Colorado-based startup is investigating processes to scale atomic layer deposition (ALD) to create new core-shell materials, especially for battery applications.
ALD is a chemical process for applying atomic-scale coatings of one atom at a time. With its specific ALD technology, Forge Nano aims to increase the energy density of vehicle battery cells. For example, a higher energy density would have positive effects on the range of electric vehicles. Volkswagen has lent its automotive and battery expertise to Forge Nano's applied research efforts.
The Volkswagen Group aims to offer more than 50 battery-electric models by 2025, accounting for about a fifth of its model portfolio.
To safeguard this approach, Volkswagen is cooperating with strategic battery cell suppliers and developing its own know-how specialized in battery research. This also includes specific risky investments. Volkswagen is increasingly investing in new international companies to advance innovative technologies to production maturity.
Dr. Axel Heinrich, Head of Research at the Volkswagen Group, says: "At Volkswagen, we want to be the world's leading provider of e-mobility. We are continuously expanding the battery technology knowledge needed for this purpose."
"We need to safeguard our technological competence for the future. Cooperation with start-ups is a key element in these efforts. We are acting as partners with Forge Nano and intend to provide the team with the opportunity to conduct industrial testing with their innovative technology."
Dr Paul Lichty, founder and CEO of Forge Nano, says: "Our atomic precision surface engineering technology is ushering in a new era of high-performance materials. We are excited to partner with a company that has such a strong commitment to commercializing innovation."
