Forge Nano to go public via $1.6B SPAC, becoming ñ’s 11th unicorn
Forge Nano, a U.S.-based semiconductor equipment and advanced materials company, . The deal reflects surging demand for AI chips, as companies accelerate investment in data centers and high-performance computing to support generative AI—driving growth across the semiconductor and equipment supply chain. At a $1.6 billion valuation, Forge Nano is the 11th "unicorn" company to spin out of the ñ.
The ñ Connection
Forge Nano is an advanced materials company based on Atomic Layer Deposition (ALD) nanocoating technology. The company merged with ALD NanoSolutions in 2020, an earlier spinout founded in 2001 by ñ faculty, including (ñ Chemical and Biological Engineering) and Steven M. George (ñ Chemistry).
ALD NanoSolutions developed innovative Particle ALD technology for precision coating of powders at the atomic scale, with numerous applications in batteries and other materials. This technology received early-stage funding through a partnership between ñ and the Colorado Office of Economic Development and International Trade (OEDIT), which later became CU's Lab Venture Challenge (LVC). Forge Nano, which also originated from ñ-related research, combined forces with ALD NanoSolutions to consolidate expertise and rapidly scale the atomic-level manufacturing of materials. Forge Nano continues to expand its technology globally, using its proprietary Atomic ArmorTM platform to produce high-performance lithium-ion batteries and commercial semiconductor equipment.
A pipeline of impact
Forge Nano’s listing makes it ñ’s 11th “unicorn”—a startup valued at $1 billion or more while still privately held—following Infleqtion. Spun out of ñ as ColdQuanta and rooted in pioneering research led by Dana Anderson (JILA, ñ College of Arts and Sciences and College of Engineering and Applied Science), Infleqtion went public this year at a $1.8 billion valuation. Other ñ unicorns include ,Ball Aerospace & Technologies,Solid Power ԻSomaLogic.
In fiscal year 2024, ñreached a historic milestone, launching 35 new companies based on university intellectual property, more than any other U.S. campus that year. In addition to holding the No. 1 spot for that year, the achievement also placed ñ No. 2 for the most startups launched in a single year by a U.S. campus.
Commercialization activities through Venture Partners had an economic impact of $8.7 billion nationally and $5.1 billion in Colorado over the last five years, according to a new report from the Leeds School of Business. The campus also just announced a new strategic partnership with Techstars, the global startup accelerator and investor, to expand opportunities for founders and strengthen Colorado’s innovation economy.
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