logo
logo

Nexeon Raises Over $200M To Fund Battery Materials Manufacturing

Aug 03, 2022•almost 3 years ago

Amount Raised

$200 Million

Abingdon

Description

Further to the announcement of its strategic partnership with and investment from SKC on 26 January 2022, Nexeon, a leading battery materials developer and manufacturer has completed the second close of its fundraise resulting in a total investment of US$170m. Additionally, a further US$50m of commercial investments is being made in Nexeon’s technologies as a consequence of the investment round.

Company Information

Company

Nexeon

Location

Abingdon, England, United Kingdom

About

A consortium including South Korean chemical company SK Co Ltd has invested $80 million in British battery materials startup Nexeon to ramp up production of its silicon anodes to meet global demand, the firms said on Wednesday. Nexeon, which is based in Abingdon, England, is known for producing silicon anodes, a crucial component in electric vehicle (EV) batteries, which boost vehicle range and charging speed and lower charging costs.As carmakers race to bring more electric vehicles to market, they are seeking ways to increase the range of their vehicles to give them a competitive edge, including by exploring new chemistries.The startup said the funding and a new strategic partnership with SK would help it increase production and meet “rapidly increasing demands from its blue-chip customers in automotive and consumer electronics industries across Europe, North America, and Asia.”

Funding Insights

Based on industry data
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech