The Wacker Chemie-backed silicon anode battery producer will use the capital to acquire intellectual property and invest in development and manufacturing capacity.
Nexeon, a UK-based advanced battery developer backed by chemicals and materials producer Wacker Chemie, has closed £30m ($43m) of funding from investment fund Woodford Investment Management and undisclosed existing investors.
Founded in 2005, Nexeon is developing silicon anode batteries to be used in consumer electronics, electric vehicles, drones and medical devices.
The company will use the cash to establish a development lab in Asia, start work on a new production facility and acquire complementary intellectual property.
Scott Brown, Nexeon’s chief…
