Nexeon secures £100 million to expand UK battery material operations

Nexeon, an Oxfordshire-based developer of silicon-based battery materials, has closed a £100 million ($133 million) investment round. The funding includes a £52.6 million ($70 million) commitment from the UK’s National Wealth Fund.

New investors in this round include the Korea Development Bank and Honda Xcelerator Ventures. The capital is earmarked for the development of a UK-based pilot manufacturing facility, research and development, and the expansion of Nexeon’s advanced manufacturing technology unit.

Nexeon’s silicon-carbon materials are designed to increase energy density, reduce charging times, and extend the driving range of electric vehicles by replacing conventional graphite anodes. While the company currently operates a production plant in Gunsan, South Korea, the new investment aims to strengthen the UK’s domestic battery supply chain and sovereign manufacturing capabilities.