Nexeon

Battery Materials · Electric Vehicles · Clean Energy

Funding

Nexeon raises $133M as UK National Wealth Fund leads with $70M

State-backed capital is being paired with strategic investors from South Korea and Japan to anchor a domestic battery supply chain the UK currently lacks.

• Nexeon completed a £100 million ($133 million) growth round led by the UK's National Wealth Fund, which committed £52.6 million ($70 million), with Korea Development Bank and Honda Xcelerator Ventures joining as new investors.
• Nexeon, headquartered in Abingdon near Oxford, makes silicon anode materials that boost lithium-ion battery energy density, cutting charging times and extending EV range.
• The National Wealth Fund's financing will fund a UK-based pilot manufacturing facility and expand Nexeon's advanced manufacturing technology unit, creating highly skilled jobs.
• The raise ranks in the 96th percentile among UK transportation late-stage VC rounds over the past four years, based on a sample of 142 deals.
• Nexeon already runs a volume-production facility for silicon-carbon materials in Gunsan, South Korea, and a technical centre in Yokohama, Japan, alongside its Oxfordshire HQ.
• Pairing a UK sovereign fund with Korean and Japanese strategic capital shows governments and automakers racing to lock in next-generation battery materials outside China-dominated supply chains.