FOR IMMEDIATE RELEASE
May 21, 2019
6K also acquires titanium recycler AL Solutions, Inc, accelerating 6K’s production of advanced titanium and other metal powders for additive manufacturing.
6K, a producer of advanced ceramic, metal, and composite materials, today announced it has raised
$11 million in new funding. The Series B-2 round, led by venture capital firm Anzu Partners, also includes existing investors Launch Capital, Material Impact, and RKS Ventures. This funding round follows 6K’s initial $13.85 million Series B funding in Q4 2017.
6K also announced that it is has acquired AL Solutions, Inc., a Pennsylvania-based producer of refined titanium materials for the aerospace, automotive and medical industries. The company employs proprietary technology to recycle titanium scrap from machining operations into essential inputs for metal alloys. The company is ISO 9001 certified and produces over one million pounds of its Ty-Gem™ titanium alloying compacts annually.
Investments are planned in the Pittsburgh, PA area to expand Ty-Gem™ production capacity and build a new additive manufacturing metal powders facility, combining AL Solutions’ proprietary metal handling processing and 6K’s UniMelt™ technology. The company, rebranded as 6K Additive, will launch a line of premium powders in late 2019 for the metal additive manufacturing markets. “This additional infusion of capital, along with the acquisition of AL Solutions, accelerates 6K into full production mode and creates a clear and unique pathway for us to manufacture premium metal powders that are derived from sustainable sources,” said Aaron Bent, Ph.D., CEO of 6K.
AL Solutions’ CEO, Frank Roberts, has been named President of 6K Additive. The terms of the acquisition were not disclosed. “We are excited to become part of the 6K team,” said Frank Roberts. “Our company has a one-of-a-kind production technology to process titanium and other metal streams from subtractive machining processes. This capability will provide 6K Additive a sustainable, low cost, and infinitely flexible feedstock source for high-performance Additive/3D metal powders.”
6K was recently awarded a Phase I Small Business Innovation Research (SBIR) grant through the Defense Logistics Agency for the production of premium metal powders from sources of aerospace scrap nickel superalloy products. 6K was also recently awarded a
$1 million Phase II SBIR grant through the U.S. Department of Energy’s (DOE) Office of Energy Efficiency and Renewable Energy (EERE) to continue its development of advanced cathode materials for electric vehicle (EV) batteries.
6K will be exhibiting at the upcoming RAPID+TCT additive manufacturing conference, May 20-23 in Detroit, MI, and speaking at TechConnect World 2019, June 17-19 in Boston, MA.