Sustainable Materials Producer 6K Raises $82 Million
Sustainable engineered materials producer 6K announced today that it has raised $82 million at the first close of its Series E funding round, with proceeds aimed at enabling the company to scale up production. 6K said that it expects a second close of the Series E round later this year.
Founded in 2014, Massachusetts-based 6K develops advanced materials for markets including lithium-ion batteries and additive manufacturing, offering a more environmentally sustainable alterative to current processes. The company’s “UniMelt” microwave plasma technology utilizes a combination of high heat, highly reactive ions, and designed chemistries to produce critical materials at scale, much more rapidly that traditional methods, and with environmental benefits including reduced carbon emissions, lower energy consumption, and utilization of recycled content.
According to 6K, the new capital will enable the company to scale up production for battery cathode active materials (CAM) and the expansion for additive manufacturing metal powders.
Saurabh Ullal, CEO for 6K, said:
“The new funding enables 6K to scale up our production capabilities for IRA compliant lithium-ion battery cathode active materials at our PlusCAM battery material plant in Jackson, TN. This scaling to full production is enabled by our Battery Center of Excellence that has the capacity today to produce up to 1 ton per month of CAM to support multiple customer qualifications.”
The funding round was insider-led, with participation from investors including Anzu Partners, Energy Impact Partners, LaunchCapital, Material Impact, and Volta Energy Technologies. The company also announced the appointment of LaunchCapital’s Chief Investment Officer Bill McCullen as Chairman of the Board, and of Volta’s CEO Dr. Jeff Chamberlain and auto industry veteran Beda Bolzenius as new board members.
McCullen said:
“Thanks to Aaron, 6K is well positioned today as a leader for sustainable, critical material production for lithium-ion batteries and additive manufacturing. Saurabh’s expertise in technology and operations ensures the company’s scaling strategy while meeting the material specifications and reliability levels customers demand. The $82M raised underscores the confidence investors have in 6K, the UniMelt platform, and the leadership team.”