Nexeon Raises €116.7 Mn to Scale Silicon Battery Technology in the UK

The funding round also attracted new investors, including the Korea Development Bank and Honda Xcelerator Ventures. Nexeon develops advanced silicon-based materials for batteries, which can help improve battery performance.

Nexeon plans to use the new funding to expand its UK operations and strengthen the country’s battery supply chain. The investment is also expected to support job creation and help the company grow its business.

Dr. Scott Brown, CEO of Nexeon, said, “This investment is a strong endorsement of Nexeon’s technology and our role in enabling the next generation of lithium-ion batteries. The National Wealth Fund’s support reflects the strategic importance of our work, not only in advancing battery performance but also in strengthening the UK’s position in the global battery supply chain.”

Chancellor of the Exchequer John Healey MP said, “Companies like Nexeon show the strength of British innovation. And if we are serious about growth, we must be serious about backing British businesses like this with conditions for them to start, scale and succeed here in the UK, as the National Wealth Fund are doing here. That’s how we’ll get good growth and jobs in every postcode.”

Founded in 2006, Nexeon develops battery materials and manufacturing technology. The company has created a special silicon-based anode technology designed to improve the performance of lithium-ion batteries.

Nexeon says its battery materials can help batteries store more energy in a smaller space. This could lead to smaller and more affordable batteries while improving performance in applications such as electric vehicles, including better driving range and faster charging.

The company’s technology is supported by more than 290 patents and partnerships with battery and automotive companies. Its materials can be used in different lithium-ion battery designs, including cylindrical, prismatic and pouch cells, with patents covering major markets such as the US, Europe, China, South Korea and Japan.

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