Imperial College, Nexeon, silicon, anode, semiconductor, battery Battery anode startup raises $65 million

LONDON — Nexeon Ltd. (Abingdon, England), a company formed in 2005 to commercialize battery research conducted at Imperial College in London, has received an investment of £40 million (about $65 million) to help it pioneer the use of silicon anodes in place of carbon anodes in lithium-ion rechargeable batteries.

The Series C investment in the company was led by Imperial Innovations Group and included Invesco Perpetual; both are existing investors in the company.

Nexeon, which was looking at in intellectual property licensing business model, said it would use the money to establish a manufacturing facility that would be capable of producing around 250 tonnes of silicon anode material per year. The company did not state where the manufacturing plant would be located, how soon it could be up and running or how many people would work there.

Use of silicon anodes in lithium-ion batteries produces higher energy density can offer longer time between charges, or a smaller size battery and less weight for the same charge and performance, the company said.

The latest funding brings the total raised by Nexeon to £55 million (about $90 million).

Nexeon said is engaged with global companies in the fields of consumer electronics and automotive transport. Nexeon chairman Paul Atherton, who founded the company in 2005 with Professor Mino Green of Imperial College, said the latest funding would allow Nexeon to build the first of a series of manufacturing plants.


Related links and articles:

www.nexeon.co.uk

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Imperial College, Nexeon, silicon, anode, semiconductor, battery Battery anode startup raises $65 million