Anovion and Forge Nano Sign Offtake Agreement for the Supply of Synthetic Graphite Anode Powders Optimized With Atomic Armor™ for Next-Generation Lithium-Ion Batteries

Proprietary technology enables improved performance with increased life cycle, reduced capacity fade and stability of lithium-ion batteries.

CHICAGO and DENVER, Feb. 21, 2023 /PRNewswire/ -- Anovion, an innovation-led, U.S.-based producer of battery materials with the mission of securing the domestic lithium-ion battery supply chain, and Forge Nano, Inc., a global leader in precision nano-coating technology, have signed an agreement for the supply of Anovion's American-made, commercial-scale synthetic graphite anode products with Forge Nano's proprietary Atomic Armor™ surface technology platform for next-generation anode materials.

This agreement ensures security of supply for Forge Nano's graphite anode demand for their planned lithium-ion battery cell manufacturing. Moreover, it creates a strategic relationship to supply the market with innovative co-developed anode products that utilize the combined strengths of Anovion and Forge Nano technologies, following the companies' strategic partnership MOU announced in June 2022 to strengthen the U.S. domestic graphite anode battery materials supply chain.

"We are thrilled to be taking this next step in our partnership with Forge Nano," said Eric Stopka, Chief Executive Officer of Anovion. "Working together with Forge Nano to atomically optimize the synthetic graphite that we produce for next generation lithium-ion batteries will have long-reaching implications in our transition to the electrified future. We are passionate about building a scalable infrastructure to both support the U.S. battery industry and enhance the country's energy security. Together with Forge Nano, we are taking steps to make that a reality."

Incorporating Forge Nano's Atomic Armor™ technology with Anovion's synthetic graphite demonstrably enhances particle surface stabilization, leading to performance improvements realized at the battery cell level and beyond. The optimized anode powders have shown higher discharge capacities, and greater stability under a variety of conditions, such as high voltage, fast charge, or high/low-temperature storage and operation.

The combined technologies leverage process efficiencies and a reduced carbon footprint that delivers a more environmentally sustainable product versus imported incumbent materials. Forge Nano and Anovion have already completed initial development work together and demonstrated that ALD coatings on Anovion graphite anode materials can deliver industry-leading performance.

"We are excited to be partnering with Anovion to create the highest performance synthetic graphite anodes available using Atomic Armor™," said Paul Lichty, CEO at Forge Nano. "We believe that Anovion graphite incorporating our Atomic Armor™ process will be capable of meeting the demands of any application. Anovion not only provides a source of premium, U.S.-made synthetic graphite for our own cells, but also shares our commitment to providing the highest performance and quality into lithium-ion battery production. We look forward to working with Anovion to create a sustainable future for our country."

In addition to its current production capacity in New York and West Virginia, Anovion is developing its first large-scale production facility, which will support the supply of 35,000 tonnes per year of synthetic graphite anode product used in lithium-ion batteries essential to electric vehicles and critical energy storage.

About Anovion

Headquartered in Chicago, Illinois, Anovion is a U.S.-owned, advanced materials business, focused initially on anode-quality synthetic graphite from America's only current commercial scale production capacity. As a leader in innovation and manufacturing for lithium-ion battery materials, Anovion is among a select few synthetic graphite producers in North America to already have gained qualification for EV applications and began commercial production in early 2021. In 2022, Anovion was awarded a $117 million grant from the U.S. Department of Energy to rapidly scale production capacities to meet growing demand, construct a large-scale factory in the southeastern U.S. and invest in its technology Center of Excellence in Sanborn, New York. Today, Anovion is not only planning expansion to 150,000 metric tonnes of annual capacity of anode quality synthetic graphite, but is also developing alternative materials and environmentally sustainable processes that will position Anovion to build upon its leadership position over the long term.

About Forge Nano

Forge Nano is a global leader in surface engineering and precision nano-coating technology, using their proprietary Atomic Armor™ process. The Company's technology and manufacturing processes offer the most advanced materials engineering capabilities in the world. They make angstrom-thick coatings fast, affordable, and commercially viable for a wide range of materials, applications, and industries. Forge Nano's suite of process solutions and equipment cover the full spectrum from lab-scale development to commercial-scale manufacturing.

CONTACT

Jennifer Nardicchio
Global Marketing and Communications Director
Anovion
[email protected]

Michael Talarico
Marketing Director
Forge Nano
[email protected]
(720) 259-8579

SOURCE Forge Nano Inc.