12-year-old battery startup 6K has received conditional approval for a $250 million debt facility from the U.S. Department of Defense, marking a major government-backed follow-on financing for the North Andover, Massachusetts-based company. 6K will use the capital to build a manufacturing facility in Tennessee, leveraging a proprietary microwave-plasma process to produce critical cathode materials—such as lithium iron phosphate (LFP)—and reduce U.S. reliance on Chinese supply chains. The loan approval comes after a previously awarded $50 million Department of Energy grant was canceled, prompting the startup to restructure its expansion plans and reapply for federal support.
