September 05, 2024 09:00 ET| Source: 6K
NORTH ANDOVER, Mass., Sept. 05, 2024 (GLOBE NEWSWIRE) — 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.
“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,” said Bill McCullen, Chairman of the Board for 6K. “The $82M raised underscores the confidence investors have in 6K, the UniMelt platform, and the leadership team.”
“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,” said Saurabh Ullal, CEO for 6K. “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.”
Incoming board members Beda Bolzenius and Dr. Jeff Chamberlain bring a wealth of real-world expertise to 6K as the company continues the expansion of its production capabilities. Beda Bolzenius has over 30 years of experience in leadership roles across the global automotive industry in Germany, United States, Mexico, South Africa, China, and Japan. Beda has a deep automotive technical background with strong operational experience in engineering, manufacturing, logistics, and supply chain management. He served as CEO of global manufacturer Marelli and held leadership positions in market-leading companies such as Bosch and Johnson Controls. He will bring invaluable corporate and operational expertise and automotive industry insights to his role on the board.
Dr. Chamberlain is the CEO of Volta Energy Technologies, LLC, a venture capital firm launched out of Argonne National Laboratory. Jeff is a proven leader with a long record of industrial product R&D and commercialization success in energy, integrated circuit, and water treatment technology. Dr. Chamberlain’s industrial experience is complemented by his ten years leading the energy storage initiatives at Argonne National Laboratory. In collaboration with the U.S. Department of Energy, Jeff led the effort to successfully transfer advanced battery technology from Argonne to organizations such as LG Chem, BASF, General Motors, Toda Kogyo, General Electric, and others. Dr. Chamberlain will bring a unique and diverse perspective to the company.
To learn more about IRA compliant cathode active battery material, additive manufacturing powders, and the power of UniMelt microwave plasma, visit 6KInc.com.
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About 6K
6K produces and innovates with UniMelt® microwave plasma technology for the localized production of critical materials. 6K’s UniMelt technology is applied across a vast range of markets, from additive manufacturing (6K Additive) and essential battery materials (6K Energy) to future growth sectors (6K Next). UniMelt plasma creates a path for true sustainability, reducing carbon emissions, lowering energy use, and utilizing recycled content to create a circular economy—all while reducing conversion costs and providing a secure, domestic supply chain. UniMelt is industrially operational and producing critical materials at scale today. The company’s headquarters and the 6K Energy Battery Center of Excellence are located in North Andover, MA, with 6K Additive’s production facility in Burgettstown, PA, and a full-scale PlusCAM™ battery material manufacturing plant under construction in Jackson, TN. For more information, visit www.6Kinc.com.
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Bruce Bradshaw
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6K Inc.
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Phone: +1 603 689 4597