NORTH ANDOVER, Mass., Sept. 22, 2021 /PRNewswire/ -- 6K, a leader in the production of sustainable advanced materials for energy storage and additive manufacturing powders, announced that it has closed a $51M Series C financing round. With this 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. Funding will also enable a tripling of production capacity for 3D metal powders at its 6K Additive division, increase the portfolio of powder product offerings, and expand its commercial sales activities globally. 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.
"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."
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 is a revolutionary high volume production process, producing advanced performance materials in as little as two seconds versus two-three days. The UniMelt system displaces costly and wasteful legacy manufacturing approaches with a lower-cost, smaller footprint production technology, providing a path to meeting the cost demands the market requires. 6K's UniMelt platform offers multifaceted sustainability benefits like no other material production platform in the world. As an example, if a legacy battery cathode production plant was replaced with 6K's UniMelt platform, 100% of solid waste and wastewater would be eliminated, energy usage and greenhouse gas generation would be reduced by up to 70%, and water usage would be 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, and much more.
Zander Arkin, Volta's Chief Investment Officer, joins as a 6K Board Director, alongside Board luminaries such as Congressman Joe Kennedy III and Mark Little, previously CTO at GE. "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," said Mr. Arkin. "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."
6K will be using the proceeds of the financing to expand product development and commercial activities across its multiple divisions:
6K ADDITIVE: 6K is the only premium metal powder supplier for 3D printing produced from sustainable sources, targeting the commercial space, medical, and industrial sectors. Following the commissioning of its 45-acre ISO9001 24/7 state-of-the-art powder production operations in 2020, 6K will now expand production with an additional 600 tons/year and set up sales and distribution in Europe and Asia.
6K ENERGY: 6K has announced its intent to invest $25M over 24 months in its Battery Development Center of Excellence, enabling unique business models with partners for rapid product development and deployment. The Center will be fully capable of pilot production with 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.
6K FUTURE MATERIALS: 6K, in response to demand from companies across the performance materials spectrum, will invest in the identification and development of 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 for the development of performance materials including those for applications ranging from semiconductors to electronic packaging to bio-ceramics to name just a few.
Notes for editors
6K press releases are available here: https://www.6kinc.com/about/news/
6K represents 6000 degrees, setting 6K technology apart from all others. It is the temperature of operation of UniMelt® (5778K to be exact), the world's only microwave production scale plasma, and is also the temperature of the surface of the sun.
6K uses proprietary advanced plasma processing and industrial systems to create materials that are enabling the next-generation of commercial and consumer products. The company's continuous UniMelt process allows for complete and unprecedented control of the entire materials engineering process, to produce materials at exact specifications.
The 6K Additive division is a ISO9001 facility, reclaims and processes over a million pounds of Ti-64 per year, and has recently built and commissioned a state-of-the-art 48,000 square foot production facility for additive manufacturing powders.
To learn more about 6K, please visit www.6Kinc.com
Volta Energy Technologies is a venture capital firm spun out of the U.S. Department of Energy's Argonne National Laboratory focused on identifying and investing in breakthrough energy storage and battery innovations after performing deep diligence with the support of unparalleled global research institutions. Seeded by strategic corporate investors Albemarle, Exelon, Equinor and Hanon Systems, Volta connects innovators with investors and relevant industries that are adopting energy storage technology, delivering strategic returns for all. To learn more, visit www.volta.vc and follow @VoltaLink on Twitter.
Catalus Capital is a multi-strategy private equity firm active in the areas of Energy Storage, Automotive Digital Technology and lower middle market buyouts. Catalus is an experienced investor employing an entrepreneurial and collaborative approach. The firm has significant structural flexibility that it utilizes to help its partners realize their goals. Catalus was built on a foundation of discipline, attention to detail, and holding itself to the highest standards of integrity. It seeks partners that exemplify the same values. For more information, please visit https://www.cataluscapital.com/.
About S CAP/Prithvi Ventures
Prithvi Ventures is an impact-driven, fund set up to protect our Prithvi (Sanskrit name for Earth) and all its inhabitants by investing in ClimateTech companies that can deliver outsized returns and dramatic impact on Climate and Sustainability. To protect Mother Earth, we focus on CleanTech and SpaceTech that redesigns the way we generate and consume energy. To protect our fellow Prithvi inhabitants, we focus on tech that supplants animals wherever they are used by humans, be that in food, fashion, beauty, or pharmaceuticals www.prithvivc.com
About Launch Capital
LaunchCapital was founded with a mission to help entrepreneurs gain quick access to seed capital and mentorship. Over the past decade, LaunchCapital is proud to have invested in over 200 companies that are reinventing industries across the nation. For more information, please visit https://www.launchcapital.com
About Anzu Partners
Anzu Partners is an investment firm that focuses on industrial and life science technology companies with the potential to transform their industries. Anzu works with entrepreneurs to develop and commercialize technological innovations by providing capital alongside deep expertise in business development, market positioning, global connectivity, and operations. For more information, please visit https://anzupartners.com
About Material Impact
Material Impact is a venture capital fund that invests in building companies which transform material technologies into products that make an impact on real world problems. Material Impact is headquartered in Boston, Massachusetts. For more information, please visit http://www.materialimpact.com.
About RKS Ventures
RKS Ventures is an investment vehicle for the Gupta Family. RKS invests in companies that are focused on developing breakthrough hardware and software technologies, with a specific interest in companies building platform industrial technologies that are complementary to the expertise of the team. For more information, visit http://www.rksventures.com/