6K raises $82M to scale US battery material production using innovative plasma technology.
Advanced material specialist 6K has raised $82 million in a new Series E funding round, marking a significant step towards securing US battery supply chains. This insider-led investment was spearheaded by Anzu Partners, Energy Impact Partners, LaunchCapital, Material Impact, and Volta Energy Technologies.
The fresh capital will be channeled into scaling up production for battery cathode active materials (CAM) and expanding the processing of 3D printable metal powders. This $82 million represents the first close of the Series E funding round, with a second close anticipated in late fall.
In tandem with this financial boost, 6K has announced key leadership changes. Dr. Aaron Bent has resigned as company CEO, handing the reins to Dr. Saurabh Ullal, who immediately took over as the new COO.
Bill McCullen, Chief Investment Officer at LaunchCapital, has become the new Chairman of the Board. Additionally, Volta’s CEO Dr. Jeff Chamberlain and automotive industry veteran Beda Bolzenius have joined as new 6K board members.
“Thanks to Aaron, 6K is well positioned today as a leader for sustainable, critical material production for lithium-ion batteries and additive manufacturing,” commented McCullen. “He emphasized that the $82 million raised demonstrates investor confidence in 6K, the UniMelt platform, and our leadership.”
According to Ullal, the new funding will enable 6K to achieve full production for its Inflation Reduction Act (IRA)-compliant lithium-ion battery CAM materials. These will be produced at the company’s PlusCAM battery material plant, currently under construction in Jackson, TN, using 6K’s proprietary UniMelt microwave plasma technology.
The PlusCAM facility is set to be the world’s first plasma cathode plant, providing low-cost and sustainable production of battery material. Designed to localize battery supply chains within the US, the plant is envisioned as the first in a series of multi-chemistry production sites to be operated by 6K.
6K claims its new board members will provide the expertise needed to expand our production capacity. Bolzenius possesses over 30 years of experience in leadership roles across the automotive industry, while Chamberlain brings experience in product R&D and success in energy, integrated circuits, and water treatment technology.
This funding round positions 6K at the forefront of sustainable material production for both lithium-ion batteries and additive manufacturing, aligning with the growing trend of localizing critical supply chains within the US.
Content Source– 6K
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