British battery materials company Nexeon has closed a €116.7M funding round backed by the UK’s National Wealth Fund, with the Korea Development Bank and Honda Xcelerator Ventures also joining as new investors.
The Oxfordshire-based firm, founded in 2006, makes silicon anode materials for lithium-ion batteries. It says the technology delivers significantly higher cell energy density than conventional graphite anodes, letting battery makers pack more range into the same footprint.
The capital will support the expansion of Nexeon’s domestic operations and the development of a UK-based pilot manufacturing plant, part of a broader push to strengthen Britain’s battery supply chain. The company says its materials work across cell formats and are backed by more than 290 patents.
CEO Dr Scott Brown called the investment a strong endorsement of the technology and its role in the next generation of lithium-ion batteries. Industry Minister Blair McDougall described the deal as the latest win for Britain’s advanced manufacturing sector, pointing to skilled local jobs and battery security.
Nexeon’s raise lands as European and UK governments funnel public capital into battery raw materials to cut dependence on Asian supply chains. The National Wealth Fund, set up to mobilize state money behind net-zero industries, has become a frequent lead investor in such deals.
