Pentagon offers battery startup 6K $250M loan to build US factory

The Pentagon has conditionally approved a $250 million loan to 6K, a Massachusetts-based startup, to build a factory in Tennessee that will use a microwave-powered process to produce battery materials, reducing reliance on Chinese suppliers. The factory, originally slated to open in 2024, will produce battery materials for various types, including lithium iron phosphate batteries. The loan is a result of 6K's previous grant from the Department of Energy being canceled by the Trump administration, forcing the company to reapply. 6K's process uses microwaves to heat metals into a plasma and deposit them onto a surface, reducing the number of steps required to make cathode material.