Anovion and Forge Nano Sign Strategic Partnership to Strengthen the U.S. Domestic Graphite Anode Battery Materials Supply Chain

The combined expertise creates critical synergies through proven synthetic graphite anode manufacturing processes and high-performance particle engineering technology

CHICAGO and DENVER, June 27, 2022 /PRNewswire/ -- Anovion, LLC (Anovion) and Forge Nano Inc. (Forge Nano), two premier U.S. domestic battery materials manufacturers, announce an agreement to collaborate on the supply of enhanced graphite anode technology for lithium-ion batteries. The companies will use Forge Nano's proprietary particle coating technology and Anovion's proven synthetic graphite manufacturing processes to secure domestic energy initiatives and alleviate supply chain issues.

The parties are co-developing market-leading anode material and aim to establish mass production scale to supply domestic battery and energy storage applications. Anovion's existing production capacity will accelerate the partnership's efforts to meet near-term targets ahead of larger scale initiatives. Forge Nano's surface engineering platform technology will be used to apply specialized coatings and enhanced capabilities to Anovion's synthetic graphite battery materials.

"Until now, foreign producers have controlled the global supply of anode material. In our current operation, Anovion has made major strides in R&D and process development, along with the commercialization of existing products," said Eric Stopka, Chief Executive Officer of Anovion. "This exciting partnership with industry leader, Forge Nano, helps us supply the market with another critical product line. We're proud to be joining forces to help solve the critical need for a domestic supply of battery materials."

The two companies are building upon an existing relationship that has already generated successful results. A prime example is the satellite battery program that launched U.S.-made batteries into orbit in June 2021, using advanced anode materials and electrodes first developed by Forge Nano and Anovion's predecessor company Pyrotek. These cutting-edge batteries perform reliably in the harsh operating environment of space and have demonstrated the ability to cycle over 1,700 times with 0% loss of capacity. In addition to developing and delivering innovative anode material solutions to the market, Anovion and Forge Nano also collaborate on government advocacy efforts as founding members of the Battery Materials Technology Coalition (BMTC).

James Trevey, Forge Nano's Chief Technology Officer, adds "Forge Nano is a very active participant toward enabling energy security for the U.S. through partnerships with material suppliers. This partnership with Anovion is exemplary in paving the path for premium-performance, low-cost materials to be made in the U.S., using new technology to leapfrog over incumbent technologies, create a better product, and just as important, a better process for graphite production which reduces the environmental impact of manufacturing."

Forge Nano and Anovion will also establish a long-term supply agreement for synthetic graphite anode materials for Forge Nano's Made-in-America lithium-ion cells. Anovion is currently developing its first large-scale synthetic graphite anode production facility targeting 50,000-70,000 tons per annum capacity, focused on large-format battery producers supplying mass market applications such as electric vehicles.

Headquartered in Chicago, IL, Anovion brings over 140 years of experience in the production of synthetic graphite materials. As a leader in synthetic graphite lithium-ion battery anode materials innovation and manufacturing, Anovion has the largest domestic commercial production today. Their qualified products are in commercial production with customers in key North American markets such as commercial electric vehicles, aerospace, and defense, and are undergoing qualification testing with leading automotive electric vehicle OEMs and suppliers, among many others. Anovion plans for a capacity expansion targeting up to 150,000 tons per annum finished product by 2030.

For more information, visit www.anovion-anode.com.

Forge Nano is a global leader in specialty chemical development resulting from their commercialization of a precision nano-coating technology called Atomic Layer Deposition (ALD). The Company's proprietary technology and manufacturing processes improve material performance and reduce cost for a wide range of applications and industries. Forge Nano's suite of equipment and services, from lab-scale to commercial-scale, provides a basis for end-to-end product development with partners. Forge Nano has received major support and signed meaningful partnerships with Volkswagen, LG Technology Ventures, Mitsui Kinzoku, Air Liquide, and Sumitomo Corporation of Americas resulting primarily from its heavy involvement in the lithium-ion battery industry, improving performance and safety while reducing cost. For more information, visit www.forgenano.com.

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SOURCE Anovion