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Logistics & Manufacturing

British battery-materials developer Nexeon completes £100m investment round

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Oxfordshire battery-materials company Nexeon has completed a £100 million investment round, including £52.6 million from the National Wealth Fund. The Korea Development Bank and Honda Xcelerator Ventures are among its other new backers. The company develops silicon-based materials for lithium-ion battery anodes, intended to increase the amount of energy batteries can store. The funding will support its UK research and manufacturing technology operations and the development of a UK pilot production facility. The location and construction timetable for that facility have not been announced. Nexeon has separately begun volume production of silicon-carbon materials at a plant in Gunsan, South Korea.