6K Additive secures $27.4M EXIM funds for powder expansion
6K Additive, a division of 6K, based in North Andover, Massachusetts, USA, has received a $27.41 million financing package from the Export-Import Bank of the United States (EXIM). The strategic funding is intended to bolster domestic production of metal powder for Additive Manufacturing and traditional Powder Metallurgy processes used in component production for defence, nuclear, and other critical applications for the US Department of Defence (DoD) and its supply chain partners, as well as commercial organisations.
The EXIM loan complements 6K Additive’s $23.4 million Defence Production Act grant award in supporting the Pennsylvania plant expansion. The company expects that this expansion will scale the powder capacity of its Burgettstown site from 200 metric tons to over 1,000 metric tons per year.
“We are experiencing growth in demand for our refractory, titanium and nickel powders for Additive Manufacturing, and the EXIM financing supports scaling to meet this growth by expanding our state-of-the-art powder and alloy footprints. We also intend to expand our product offerings with ingot production for forging and castings,” stated Frank Roberts, 6K Additive CEO. “Key to our success is our talented employee team. The EXIM loan supports hiring the very best engineers, operators and support staff to significantly grow the organisation to meet anticipated market demand over the next three to five years.”
“This US Export-Import Bank loan will scale domestic production capacity for advanced metals needed for defence applications and strategic economic sectors,” said the Honorable Michael Cadenazzi, the Assistant Secretary of War for Industrial Base Policy. “This loan also builds upon the Department of War’s 2023 Defense Production Act Title III investment in 6K Additive and exemplifies the whole-of-government approach to building and scaling critical mineral capabilities.”
Like all EXIM loans, once approved, 6K Additive’s loan is subject to mutually agreed upon and fully executed documentation and satisfaction of condition precedent which is expected to be finalised in the next ninety days. In line with the Make More in America Initiative (MMIA), launched in 2021, the expansion is expected to generate fifty new skilled positions in engineering, technical operations, and administrative roles. These jobs are expected to provide opportunities for residents while attracting specialised talent to the region.
6K Additive offers a range of powders, including nickel, titanium, and refractory metals such as tungsten, niobium, and rhenium. The company utilises its UniMelt production-scale microwave plasma process, which spheroidises metal powders while controlling the chemistry and porosity of the final product, as well as enabling zero contamination and high-throughput.
