Next Phase Capital Co-Leads Investment in Forge Industries to Accelerate Waste-to-Fuel Innovation

NASHVILLE, Tenn., July 07, 2026 (GLOBE NEWSWIRE) -- Growth investment firm Next Phase Capital, established by BrightStar Care Founder Shelly Sun Berkowitz, today announced an investment in Forge Industries, an emerging climate-tech company transforming hard-to-recycle waste into high-performing engineered fuels. Next Phase Capital co-led the $3.85 million funding round alongside 8090 Industries, with the two contributing the majority of new capital raised. The funding will support the development of Forge's first U.S. biofuel facility outside of Las Vegas this year.

Founder and CEO Chelsea Boyle spent six months as an undergraduate researching and developing enhanced economic models for growth in Senegal, where she witnessed firsthand the environmental impact of waste. The experience in West Africa left a lasting impression and later inspired Boyle to form Forge Industries. Under her leadership, Forge is on a mission to transform trash into a sustainable power solution by establishing a circular fuel economy.

Following an early investment from Golden Seeds, Boyle sought strategic, values-driven partners to support her company’s growth through capital, operational expertise and mentorship. That search led her to Berkowitz, whose investment in Forge includes a board observer role that allows her to provide ongoing guidance as the company scales.

“Chelsea is tackling one of the most challenging environmental and industrial problems of our time with a combination of vision, persistence and execution,” Berkowitz said. “Next Phase Capital is focused on backing founders who are building transformational businesses in sectors that matter, and Forge represents exactly that type of opportunity.”

Boyle’s business model positions Forge to address both growing industrial demand for lower-emission fuels and increasing pressure to divert hard-to-recycle waste from landfills. Founded in 2022, Forge began by producing 100-200 kg batches of industrial fuel and, by 2025, had successfully completed industrial-scale pilots exceeding 100 tons. Through dozens of rounds of testing, validation and continuous improvement, Forge is now preparing to develop its first U.S. facility later this year.

The investment reflects Next Phase Capital’s commitment to backing high-growth businesses led by exceptional founders, including women entrepreneurs working in traditionally underrepresented sectors. Berkowitz understands the specific challenges Female Founders face. After a 20-year career building and eventually selling a majority stake in BrightStar Care, she formalized Next Phase Capital and in March announced the company’s first major investment. She led a $6 million round of funding for St. Louis-based micro creamery, Clementine’s Ice Cream.

“Shelly’s support of Forge has been incredibly meaningful. We both set a very high bar for ourselves, and I believe our shared commitment to excellence will help us accomplish great things together,” Boyle said. “Beyond her investment, Shelly brings the perspective of someone who has built and scaled a business herself. In a highly competitive, male-dominated industry, having a mentor who understands the obstacles firsthand is invaluable. Her guidance, encouragement and insight have strengthened my confidence and my vision for Forge’s future.”

With the support of Next Phase Capital, 8090 Industries, minority investors, and a recent sponsorship by the Nevada Governor's Office of Economic Development, Forge will develop its first circular fuel network in the U.S and accelerate waste-to-fuel technology’s commercialization.

About Shelly Sun Berkowitz and Next Phase Capital

Shelly Sun Berkowitz began her founder journey in 2002 with BrightStar Care, a national home healthcare and medical staffing company that grew to more than 400 franchise locations, employing 20,000 professionals and generating $750 million in system-wide revenue. After successfully exiting BrightStar, Berkowitz launched Next Phase Capital and advisory firm Founder 2 Founder to help other entrepreneurs navigate growth, scale, and succession. With deep operational experience and a founder’s perspective, Berkowitz invests in and supports mission-driven businesses poised for transformational growth. Learn more at nextphasecapital.com.

About Forge Industries

Forge Industries is a climate-tech company that takes trash—especially plastics and other hard-to-recycle waste—and turns it into a high-performance industrial fuel that can directly replace coal in heavy industries like cement, steel, lime, and power generation, with no need for factories to change their existing equipment. The result is lower costs for industry, major reductions in emissions, and a scalable way to convert a global waste problem into durable, abundant energy. Learn more at forgeindustries.co.

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Chelsea Boyle Founder & CEO of Forge Industries

Boyle is reshaping climate tech by transforming ordinary trash into a scalable, sustainable power solution for heavy industry. She represents the type of transformational founders Next Phase Capital looks to invest in — someone driving real impact in a sector that truly matters.

Shelly Sun Berkowitz, Founder of Next Phase Capital and Founder 2 Founder

Through Next Phase Capital’s investment in Forge Industries, Berkowitz is bringing her expertise in scaling businesses to the climate-tech space, serving as both an investor and a mentor to help build a sustainable future.

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