Industria
6K Additive Secures Approval for $27.4 Million EXIM Loan to assist with Critical Minerals Expansion in Pennsylvania with the Department of War
"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," said 6K Additive CEO Frank Roberts . "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 organization to meet anticipated market demand over the next 3-5 years."
"This expansion is proof that American manufacturing is innovating and growing," said EXIM Chairman John Jovanovic . "My first Board action is about rebuilding America's industrial base, securing critical supply chains, and making sure America leads in the industries of the future. Partnering with the Department of War on this effort underscores EXIM's role as an economic tool to effectuate President Trump's agenda for revitalizing our domestic manufacturing and bringing supply chain security to America."
"This U.S. Export-Import Bank loan will scale domestic production capacity for advanced metals needed for defense 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."
The Make More in America Initiative (MMIA) is a comprehensive federal program launched by the Export-Import Bank of the United States in April 2021 with an initial $3 billion allocation. Designed as a cornerstone of America's industrial strategy, the MMIA works to strengthen domestic manufacturing capacity, secure critical supply chains, and enhance U.S. competitiveness in strategic sectors. EXIM evaluates MMIA applications based on their potential to strengthen supply chain resilience, create sustainable jobs, and align with broader national security priorities. Like all EXIM loans once approved, 6K Additive's loan is subject to mutually agreed upon and fully executed loan documentation and satisfaction of condition precedent which is expected to be finalized in the next 90 days. In line with the MMIA initiative, the expansion is expected to generate 50 new skilled positions in engineering, technical operations, and administrative roles. These jobs will provide opportunities for residents while attracting specialized talent to the region.
6K Additive offers a full suite of premium metal and alloy powders including nickel, titanium, and refractory metals such as tungsten, niobium, and rhenium that are all sought after materials for the US DoW's defense and hypersonic missile production. 6K Additive utilizes the award-winning UniMelt production-scale microwave plasma process which precisely spheroidizes metal powders while controlling the chemistry and porosity of the final product with zero contamination and high-throughput.
Companies interested in working with 6K Additive regarding their specific powder requirements are encouraged to visit 6K Additive's website at 6KAdditive.com.
[1] Approximately AUD42.15 million based on AUD1.00: USD0.65 exchange rate
View original content:https://www.prnewswire.co.uk/news-releases/6k-additive-secures-approval-for-27-4-million-exim-loan-to-assist-with-critical-minerals-expansion-in-pennsylvania-with-the-department-of-war-302626646.html