Next Phase Capital Invests in Forge Industries for Waste-to-Fuel Development
Next Phase Capital co-led a $3.85 million funding round for Forge Industries, which focuses on converting waste into engineered fuels. This investment aims to establish Forge's first U.S. biofuel facility near Las Vegas, enhancing the circular economy for sustainable energy solutions.
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Next Phase Capital, co-led by Shelly Sun Berkowitz, invested $3.85 million in Forge Industries, which aims to convert waste into engineered fuels. This funding supports the establishment of Forge's first biofuel facility outside Las Vegas in 2026.
Founded in 2022, Forge produced 100-200 kg batches of fuel and successfully completed industrial-scale pilots exceeding 100 tons by 2025. With backing from 8090 Industries and minority investors, as well as support from the Nevada Governor's Office of Economic Development, Forge is set to accelerate commercialization of waste-to-fuel technology. This investment underscores a commitment to high-growth businesses led by women in underrepresented sectors.
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