Nexeon Raises US$44M million for Li-ion batteries with silicon anodes
04 May 2016
UK-based Nexeon, a developer of silicon anode materials for Li-ion batteries (earlier post), has successfully completed a £30-million (US$44-million) funding round. The company received funding from existing investors and a new investor, Woodford Investment Management.
Nexeon will use the new funds 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. These initiatives will further support Nexeon’s efforts to achieve world-leading levels of battery energy density, and to satisfy the demand for superior battery performance in applications ranging from smart phones, wearables, drones and other mobile consumer devices to e-bikes and electric vehicles.
Nexeon has developed and patented a novel way of structuring silicon so that it delivers extended cycle life and significantly increases anode charge capacity—almost ten times the gravimetric capacity per gram (mAh g-1) compared to carbon anodes. Used in combination with a standard cathode, this can increase cell capacity by 30-40%, Nexeon says.