Plasma Tech Provider 6K Raises $51 Million for Advanced Battery Material Development
The funds will be utilized to complete the company’s battery development center of excellence
The funding is expected to enable tripling of production capacity for additive manufacturing metal powders, increase the portfolio of powder product offerings, and expand its commercial sales activities globally.
“This round of capital is a validation of 6K’s model to replace wasteful legacy production technologies with the UniMelt® platform, enter scaled production, meet customer needs, move toward profitability, and transform industries,” said Aaron Bent, CEO, 6K.
“We are joined by world-class investors who are aligned with our vision to transform the way performance materials are produced. And in doing so, we are teaming to solve critical needs of the US and the planet, addressing climate change, supply chain security, and reducing the demand on our fragile and limited resources,” he said.
6K intends to use the financing proceeds to expand product development and commercial activities across multiple divisions. At 6K Additive, plans are laid for production to set up sales and distribution in Europe and Asia and expand production by 600 tons per annum.
It intends to invest $25 million over twenty months in 6K Energy’s Battery Development Center of Excellence, enabling rapid product development and deployment partnerships. The center will be capable of pilot production with a UniMelt capacity equivalent of 400 MWh. 6K is currently sampling customers and developing products across NMC cathode, LFP, silicon-dominant anode, lithium, solid-state electrolyte, and recycled cathode materials.
In response to demand from companies across the performance materials spectrum, 6K intends to identify and develop performance and electronic materials that can be produced cost-effectively and sustainably with its UniMelt plasma production system. 6K has established an advanced R&D team to develop performance materials for various applications, ranging from semiconductors to electronic packaging to bio-ceramics.
Recently, a United States-based battery energy storage company Nanotech Energy had raised $64 million in Series D funding led by Fubon Financial Holdings.
Earlier, Bengaluru-headquartered advanced battery and fuel cell technology company Log 9 Materials raised $8.5 million in Series A+ funding led by Amara Raja Batteries.