Significant funding raised to scale-up production of step change battery materials

26 January 2022

nexeon-volume manufacturing of silicon battery materials
nexeon-volume manufacturing of silicon battery materials

Nexeon, the UK company developing advanced silicon materials for next generation lithium ion (Li-ion) batteries, has formed a partnership for volume manufacturing of silicon battery materials.

Nexeon Limited (Nexeon), a leading company in the supply of advanced silicon anode materials for next generation lithium-ion batteries, is pleased to announce a US$80 million investment from a consortium including SKC Co. Ltd (SKC), SJL Partners LLC (SJL), BNW Investment Co. Ltd, (BNW) and Kiwoom Private Equity Inc. Ltd (Kiwoom). Through this transaction, Nexeon enters into a strategic partnership with SKC, a major global battery and semiconductor materials company, for volume manufacturing of its silicon anode materials.

The fundraising and formation of a manufacturing partnership are part of Nexeon’s manufacturing strategy to accelerate the supply of its groundbreaking silicon anode materials at volume, in order to meet the rapidly increasing demands from its blue-chip customers in automotive and consumer electronics industries across Europe, North America and Asia.

The investment confirms Nexeon’s position in the market and allows the company to deliver on its manufacturing and commercialisation strategy.

Silicon is seen as the next major enabler for Li-ion batteries, and customers of Nexeon confirm that the company’s materials deliver best-in-class battery performance in terms of fast charge, energy density and $/kWh cost.

SKC, a US$5.0bn market cap company, is one of Korea's leading advanced materials companies, with a strategic focus on rechargeable battery, semiconductor and eco-friendly materials, and a global presence in Europe, North America and Asia. SJL is a private equity firm that seeks cross-border investments in partnership with Asia-based strategic investors.

We are very excited that our new partners have recognised the value of our silicon anode materials, and this move will accelerate production ramp up and facilitate access to markets across the globe,” said Dr Scott Brown, CEO of Nexeon. “This significant investment clearly validates the tremendous technical and commercial progress we have made, and we look forward to working with our new partners to deliver our materials in volume to consumer electronics and EV (electric vehicle) customers alike.

We are extremely pleased to have been able to close this deal with Nexeon,” said Dr Junghwan Shin, Vice President, New Business Development at SKC. “SKC is committed to implementing our ESG (environmental, social and governance) policy, and we see silicon anode materials, and this strategic relationship with Nexeon, as a key step in delivering on our commitment.

Batteries are the key technology of our time and present a once-in-a-lifetime opportunity to transform transportation and positively impact the environment. Nexeon’s silicon materials are a key enabler in the delivery of better batteries and we are extremely excited about this investment,” said Steve Lim, Chairman & Managing Partner of SJL.

HSBC acted as advisor for Nexeon’s funding and partnership agreement.

About Nexeon Ltd.
Nexeon Ltd. (‘Nexeon’) is a battery materials company developing and producing silicon materials for the next generation of lithium-ion rechargeable batteries. Nexeon’s materials have a transformational impact on battery performance in terms of energy density, rate of charge and cost of production on a $ per kWh basis. The company is engaged with a host of blue-chip customers in the automotive and consumer electronics sectors who see significant benefit in Nexeon materials to their end markets. Nexeon is headquartered in Oxfordshire and has application engineering labs in Japan.                                         

About SKC Co. Ltd.
Since its foundation in 1976, SKC has achieved many firsts both in Korea and worldwide. SKC’s focus on innovation has led to the development of the first polyester films in Korea in 1977, the commercialization of propylene oxide products in 1991, the world’s first commercialization of an eco-friendly hydrogen peroxide to propylene oxide process in 2008, and the commercialization of various biodegradable films subsequently.
Today SKC is focussed on delivering high value-added materials to strategically important markets, including rechargeable batteries. The company has expanded into copper foil and next-generation cathode materials and has developed the world's first glass substrate technology for high-performance semiconductors. With a proven history of innovation, SKC thrives on new challenges and will continue to strive to provide cutting edge technology to its customers and to become a global leader in mobility materials

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