Koch Family Wraps Hands Over Engineered Materials for Lithium Ion Batteries Company
Posted on 05/14/2022
6K Inc. is a company engaged in the production of engineered materials for lithium-ion batteries and additive manufacturing produced from its plasma technology. 6K Inc. has raised US$ 102 million in its Series D funding first close. The round was led by Koch Strategic Platforms (KSP), 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 3D metal powders in its 6K Additive division and accelerate the deployment of cathode production plants in its 6K Energy division.
Koch Industries is betting that lithium-ion battery markets will increase tenfold in the next decade, fueled by growth in EVs, as well as supporting critical infrastructure for telecom back-up, data centers, and power plants
The $102 million raised is the first of two funding tranches for Series D, which is expected to reach US$ 150 million in total.
6K is opening its US$ 30 million 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.