Nexeon raises funds and forms manufacturing partnership

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Nexeon, a UK developer of advanced silicon anode materials for next generation lithium-ion batteries, has announced a $80 million investment from a consortium of companies.

The consortium, which comprises of SKC, SJL Partners, BNW Investment and Kiwoom Private Equity, will also involve Nexeon entering into a strategic partnership with SKC, a major global battery and semiconductor materials company, for volume manufacturing of its silicon anode materials.

The fundraising and formation of a manufacturing partnership are part of Nexeon’s manufacturing strategy to accelerate the supply of its silicon anode materials at volume in order to meet the increasing demands from its automotive and consumer electronics customers.

SKC is one of Korea's leading advanced materials companies, with a strategic focus on rechargeable battery, semiconductor and eco-friendly materials, and a global presence in Europe, North America, and Asia.

“We are very excited that our new partners have recognised the value of our silicon anode materials, and this move will accelerate production ramp up and facilitate access to markets across the globe”, said Dr Scott Brown, CEO of Nexeon. “This significant investment clearly validates the tremendous technical and commercial progress we have made, and we look forward to working with our new partners to deliver our materials in volume to consumer electronics and EV customers alike.”

“We are extremely pleased to have been able to close this deal with Nexeon”, said Dr Junghwan Shin, Vice President New Business Development. “SKC is committed to implementing our ESG (Environmental, Social and Governance) policy, and we see silicon anode materials, and this strategic relationship with Nexeon, as a key step in delivering on our commitment.”

“Nexeon’s silicon materials are a key enabler in the delivery of better batteries and we are extremely excited about this investment” added Steve Lim, Chairman and Managing Partner of SJL.