UK start up raises £40million to develop next gen Li-ion batteries

Founded in 2005, the company has developed and patented a new type of silicon anode technology, which it claims unlocks the potential of silicon to deliver increased capacity without compromising battery life cycle. According to Nexeon's ceo, Dr Scott Brown, the new funding will be used to establish a 'world class' manufacturing facility, scaling up the production of its latest silicon anode materials to around 250 tonnes per annum, representing a commercial supply level. The latest investment round brings the total raised by Nexeon to £55million. "This is the next step in an amazing journey for this exciting UK start up", said Nexeon Chairman Dr Paul Atherton, who co founded the company in 2005. "It's a superb example of UK high value manufacturing involving sophisticated advanced materials, and this funding will enable Nexeon to establish the first in a series of manufacturing plants that will be needed to serve demand worldwide."