Washington, D.C.,-based Export-Import Bank of the United States (EXIM), the official export credit agency of the United States, recently approved a $27.4 million financing package for Burgettstown-based 6K Additive, a premium metal powders manufacturer for additive manufacturing and alloy additions.
“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,” Frank Roberts, 6K Additive CEO, said. “We also intend to expand our product offerings with ingot production for forging and castings. 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 three to five years.”
The loan complements the $23.4 million Defense Production Act grant 6K Additive received to support expanding its plant. The company expects expansion will increase powder capacity from 200 metric tons annually to more than 1,000 metric tons annually.
6K Additive’s metal powder is used in additive manufacturing and traditional powder metallurgical processes in component production for defense, hypersonic and nuclear industries. The company offers multiple metal and alloy powders including nickel, titanium, and refractory metals.