General Motors invests $10M on battery development
Yesterday at 07:12 AM
General Motors (GM) announced a $10 million investment for battery development. The company's venture capital arm, GM Ventures LLC, is investing $10 million in Forge Nano, a materials science company.
Forge Nano focuses on atomic layer deposition (ALD) solutions, a method used to coat lithium-ion batteries. The company developed its Atomic Armor technology to "engineer the surface of raw materials atom-by-atom, strengthening their properties and improving product performance."
With its Atomic Armor technology, Forge Nano hopes to develop thin-film coatings so General Motors can enhance its battery's performance while reducing costs. The materials science company aims to build a prototype lithium-ion cell at its Thornton, Colorado headquarters to showcase the capabilities of its technology.
"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."
General Motors has been developing its EV battery supply by expanding its partnerships with companies worldwide. For instance, GM is reportedly using LFP (lithium-iron-phosphate) batteries made from CATL technology to lower costs and improve performance in its electric vehicles (EVs).
Earlier this month, during its Investor Event, GM announced it would no longer use the "Ultium" name for its EV architecture, battery, cells, and EV components. The legacy automaker will continue to develop all the technologies above, but they will not use the “Ultium” label.
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