Add as a preferred source on Google6K Gets Conditional Approval for $250 Million Department of Defense Loan
The planned Tennessee facility would produce battery cathode materials and is intended to reduce reliance on Chinese suppliers.
6K said Thursday it received conditional approval for a $250 million Department of Defense loan to build a Tennessee plant that would produce battery cathode materials without relying on Chinese suppliers.
The 12-year-old company is based in North Andover, Massachusetts. Its planned facility would use a microwave-powered process that heats metals into plasma and deposits the material onto a surface. The process reduces the number of steps needed to make cathode material, a key battery component.
6K says the process can be used for several battery types, including lithium iron phosphate (LFP). The company’s Tennessee plant is intended to expand U.S. production of battery materials.
The company received a $50 million Department of Energy grant in 2023 under the Bipartisan Infrastructure Law. The Trump administration canceled the grant, requiring 6K to reapply.
The factory was initially planned to open in 2024. The grant cancellation and uncertainty in the electric-vehicle market led 6K to revise its plans.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.