Hanwha Aerospace invests in American secondary battery technology startup

By Park Sae-jin Posted : May 30, 2023, 17:50 Updated : May 30, 2023, 17:50

[Courtesy of Hanwha Aerospace]

SEOUL -- In a bid to acquire the next-generation secondary battery technology for the company's eco-friendly future mobility businesses, Hanwha Aerospace, a global defense solution company, made an investment into Forge Nano, an American startup specializing in secondary battery material technologies.
Large-capacity secondary batteries are the core factor in the electric-powered vehicle sector. Secondary batteries are also used in the renewable energy sector to store electricity generated by renewable energy sources such as solar power generators, wind farms, and micro hydro power plants. In the military sector, battery-powered vehicles and load carriers are preferred because they make little noise and can stay stealthy during operations.
The competition in the global race to acquire a technological advantage in the field of secondary batteries is fierce among global companies. Hanwha Aerospace is currently developing various future mobility technologies for various fields including the urban air mobility (UAM) vehicle sector and silent military vehicle sector that require top-notch battery and materials know-how. The global secondary battery market is predicted to reach $300 billion by 2030.
Hanwha Aerospace said that the company participated in the series C investment phase of Forge Nano along with other global investment companies including Orion Infrastructure Capital and Ascent Funds. Forge Nano specializes in nanocoating technology that can be used for coating secondary battery materials for extended lifecycle and performance. Hanwha did not disclose the exact amount of the investment.
"We decided to make the investment to increase synergy between various businesses including UAMs, submarines, clean energy power drive systems for civil vessels, and energy storage systems (ESSs)," a Hanwha Aerospace official said in a statement on May 30.
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