6K
Assembly Line
6K Closes $82M as Part of Series E Fund Raise for Expansion of Production Capabilities
6K, a leader in the sustainable production of engineered materials for lithium-ion batteries and additive manufacturing, today announced that it has closed $82M as part of its Series E funding round. The capital raised was an insider-led investment with investors Anzu Partners, Energy Impact Partners, LaunchCapital, Material Impact, and Volta Energy Technologies participating to enable the company to scale up production for battery cathode active materials (CAM) and the expansion for additive manufacturing metal powders. The $82M represents the first close of Series E with the second close expected in the late fall. In addition, Dr. Aaron Bent has transitioned out of the position of CEO, handing the reigns over to 6K COO Dr. Saurabh Ullal who assumes the role of CEO effective immediately.
Koch Strategic Platforms Leads $102M Series D Funding Investment in 6K To Accelerate Battery Material Production and Recycling
6K, a leader in the sustainable production of engineered materials for lithium-ion batteries and additive manufacturing produced from its UniMelt® plasma technology, announced today it has raised $102 million in its Series D funding first close. The round was led by Koch Strategic Platforms, a subsidiary of Koch Investments Group, an investment arm of Koch Industries, with participation by investors Energy Impact Partners, Albemarle, HG Ventures, as well as participation by 6K’s existing investors. The Series D proceeds will fund production expansion for premium 3D metal powders in its 6K Additive division and accelerate the deployment of cathode production plants in its 6K Energy division.
The $102 million raised is the first of two funding tranches for Series D, which is expected to reach $150 million in total. With an expected close in spring 2022, 6K will add a limited group of strategic investors. 6K is working with partners throughout the supply chain with the intent to build an end-to-end solution, including its partnership with Albemarle for the sustainable production of lithium products, and Heritage/Retriev for the production of cathode from end-of-life batteries. 6K is opening its $30M Battery Center of Excellence in August 2022 and working through site selection for its first 10-20 GWh cathode plant with production launch in early 2024.