Nexeon raises another £30m for silicon anode development

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Nexeon has successfully completed a £30million funding round will use the cash to acquire IP and complementary technology, to open a development lab in Asia near its key customers and to begin work on the design of a larger manufacturing facility.

Dr Paul Atherton, Nexeon’s chairman, said: “We are delighted at the confidence shown by our existing investors and by new investor Woodford Investment Management, which clearly shares our belief in the potential for silicon anode technology and acknowledges the strength of our management and product development teams.”

Nexeon – a spin out from Imperial College – is working on the development of silicon anodes for next generation of lithium-ion rechargeable batteries. By replacing a carbon anode with a silicon device, battery capacity can be increased significantly. However, it isn’t an easy process and Nexeon is working on particular morphologies that overcome some of the problems.

Nexeon’s CEO Dr Scott Brown added: “It is now widely accepted that silicon materials are the key to improved energy densities in Li-ion batteries and that the winning technology will be both high performance and low cost. This investment will allow us to progress our technology, our low-cost manufacturing capability and our commercial partnerships.”