$51M Raised for Plasma Manufacturer
Led by Volta Energy Technologies, the new investment is to enable 6K to develop strategic material production processes focused on sustainability and lower costs.
6K, a producer of sustainable advanced materials for energy storage and additive manufacturing powders, has closed a $51M Series C funding round. With the investment, 6K will complete its Battery Development Center of Excellence, adding 33,000 sq ft of state-of-the-art product development space and doubling its 6K Energy team.
6K’s mission is to provide a solution for global decarbonization in the production of performance materials, critical to manufacturing and production infrastructure. The UniMelt plasma production system it uses is a high volume production process, producing “advanced performance materials in as little as two seconds versus two to three days”.
The UniMelt system is designed to displace what the company calls “costly and wasteful legacy manufacturing approaches” with a lower-cost, smaller footprint production technology. Compared to a legacy battery cathode production plant, 6K claims its system could eliminate “100% of solid waste and wastewater”, with “energy usage and greenhouse gas generation reduced by up to 70%, and water usage decreased by 90%”.
The UniMelt production process can produce products as varied as batteries materials for electric vehicles, semiconductor materials, 3D printing powders, phosphors, advanced ceramics, and electronic materials.
“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”, commented Aaron Bent, CEO of 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”.
The financing will also be committed to expanding product development and commercial activities across its multiple divisions including “6K ADDITIVE”, “6K ENERGY” and “6K FUTURE MATERIALS”. It has most notably announced an additional 600 tons/year production for its additive manufacturing segment, an investment of $25M over 24 months in its Battery Development Center of Excellence and the establishment of an R&D team for the development of performance materials.
Zander Arkin, Volta’s Chief Investment Officer, joins as a 6K Board Director. He said, “Our investment strategy focuses on technologies that bring a positive impact to the environment and contribute to the rapid adoption of electric vehicles and renewable energy on the grid.
“Not only does 6K and its UniMelt platform align perfectly to our investment strategy, but the company is well poised to impact advanced material manufacturing for electric vehicle batteries with a solution that changes the dynamic of sustainability in the supply chain for battery materials”.
The financing round was led by Volta Energy Technologies, joined by new investors Catalus Capital and S Cap/Prithvi Ventures, and existing investors Anzu Partners, Launch Capital, Material Impact, and RKS Ventures.
You can find more information about 6K, the $51M it raised in funding and its development plans on its website.
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