The Industrial Forge is an advanced crafting station that is used to refine faster than the regular Refining Forge.
It's used to quickly smelt large quantities of Iron. Being that the coal lasts long enough for 6 stacks it also gives 20 iron ingots per change, but with the 20 seconds per change, making it 1 per second. You only need 10 coal to completely refine 1 full forge.
Due to a bug in tlc 2 update coal wasn't able to be mined. Rendering the forge useless till the patch one update later.
As of PS4 patch 535.10 gasoline and charcoal are bugged and unable to be crafted in Industrial Forges.