Pentagon offers battery startup 6K $250M loan to build U.S. factory
The Pentagon has conditionally approved a $250 million loan to help 6K scale up its microwave-plasma battery material manufacturing process.
Key points
- 6K won conditional approval for a $250 million Department of Defense loan to build a Tennessee factory.
- The plant will use a microwave-powered process to make battery materials without Chinese suppliers.
- A $50 million DOE grant awarded in 2023 was canceled, forcing 6K to reapply and rework its plans.
6K, a 12-year-old battery materials startup based in North Andover, Massachusetts, announced Thursday that it has received conditional approval for a $250 million loan from the Department of Defense. The money would fund a factory in Tennessee.
The plant will use a microwave-powered process to produce battery materials that do not depend on Chinese suppliers, according to the company.
How the process works
6K's manufacturing method uses microwaves to heat metals into a plasma and then deposit them onto a surface. The company says this cuts the number of steps needed to make cathode material, a key battery component.
According to 6K, the process can be used for several battery types, including lithium iron phosphate (LFP).
Batteries are everywhere, even on the battlefield, which helps explain the Pentagon’s recent interest in building more domestic manufacturing capacity.
— TechCrunch
Earlier grant and delays
6K previously received a $50 million grant from the Department of Energy under the Bipartisan Infrastructure Law. That 2023 grant was canceled by the Trump administration during a sweep of Biden-era awards, and the company had to reapply.
The factory was initially slated to open in 2024. The grant cancellation and uncertainty in the EV market led 6K to change its plans.
