01
DoD Signs $250 Million Conditional Loan Commitment With U.S. Battery Materials Company
The U.S. Department of Defense’s Office of Strategic Capital signed a conditional loan commitment of up to $250 million with 6K to support a battery cathode materials facility in Jackson, Tennessee. The facility would use 6K’s UniMelt microwave plasma process to produce metal oxide cathode materials for lithium-ion batteries, including nickel-manganese-cobalt formulations. The project is intended to expand domestic production for applications including drones, vehicles and energy storage. Final financing and disbursement depend on matching investment from 6K, government approvals, available appropriations, due diligence and other closing conditions.