Forge Industries develops engineered industrial fuels made from plastics and other hard-to-recycle waste that can directly replace coal in sectors such as cement, steel, lime, and power generation without requiring changes to existing equipment. Founded in 2022 and led by CEO Chelsea Boyle, the company progressed from producing 100–200 kg batches to industrial-scale pilots exceeding 100 tons by 2025. Forge aims to establish a circular fuel network in the U.S., with plans to develop its first U.S. biofuel facility outside Las Vegas later this year. The company raised $3.85 million in a round co-led by Next Phase Capital and 8090 Industries to fund that expansion and commercialization. Leadership highlights include Boyle’s founding inspiration from research in West Africa and Next Phase Capital’s Shelly Sun Berkowitz joining as an investor and board observer to support scaling efforts.

Total raised

$4M

Funding rounds

1

Latest round

Equity

Latest activity

Jul 2026