# Nexeon
Nexeon is a British battery materials company, based at Milton Park in [Oxfordshire](https://www.edgepedia.org/oxfordshire), that develops silicon anode materials to replace graphite in lithium-ion battery cells; it was founded in 2006 as a spinout from [Imperial College London](https://www.edgepedia.org/imperial-college-london) and was an operating, venture-backed company as of its most recent announcement on 31 August 2026.[8](https://techlensmedia.com/news/nexeon-raises-100m-to-scale-silicon-anode-battery-technology) • [2](https://www.miltonpark.co.uk/business/company-spotlight-nexeon/) • [1](https://www.prnewswire.co.uk/news-releases/nexeon-welcomes-honda-as-a-strategic-investor-302781876.html) Its funding record to date includes a 2022 round totalling US$170 million of investment plus a further US$50 million of commercial investments, and a £100 million ($133 million) round completed in August 2026 with backing from the UK's National Wealth Fund, the Korea Development Bank, and Honda Xcelerator Ventures.[3](https://www.businesswire.com/news/home/20220803005469/en/Nexeon-Raises-Over-%24200m-to-Fund-Battery-Materials-Manufacturing) • [4](https://www.nationalwealthfund.org.uk/news-and-publications/news/national-wealth-fund-backs-uk-battery-innovator-nexeon-in-100m-investment-round/)
| Fact | Detail |
|---|---|
| Founded | 2006, as a spinout from Imperial College London[8](https://techlensmedia.com/news/nexeon-raises-100m-to-scale-silicon-anode-battery-technology) • [2](https://www.miltonpark.co.uk/business/company-spotlight-nexeon/) |
| Headquarters | Milton Park, Oxfordshire, UK, with operations in Korea and Japan[2](https://www.miltonpark.co.uk/business/company-spotlight-nexeon/) • [1](https://www.prnewswire.co.uk/news-releases/nexeon-welcomes-honda-as-a-strategic-investor-302781876.html) |
| Sector | Silicon anode materials for lithium-ion batteries[5](https://www.nexeonglobal.com/) |
| 2022 funding | US$170m investment plus US$50m commercial investments; first close led by SKC with SJL[3](https://www.businesswire.com/news/home/20220803005469/en/Nexeon-Raises-Over-%24200m-to-Fund-Battery-Materials-Manufacturing) |
| 2026 funding | £100m ($133m) round completed 31 August 2026; National Wealth Fund £52.6m, with KDB and Honda Xcelerator Ventures[4](https://www.nationalwealthfund.org.uk/news-and-publications/news/national-wealth-fund-backs-uk-battery-innovator-nexeon-in-100m-investment-round/) |
| Manufacturing | Volume plant in Gunsan, South Korea; UK R&D and a planned UK pilot manufacturing facility[4](https://www.nationalwealthfund.org.uk/news-and-publications/news/national-wealth-fund-backs-uk-battery-innovator-nexeon-in-100m-investment-round/) • [6](https://salicainvestments.com/nexeon-completes-100m-investment-round-with-new-investor-national-wealth-fund/) |
| CEO | Dr Scott Brown[1](https://www.prnewswire.co.uk/news-releases/nexeon-welcomes-honda-as-a-strategic-investor-302781876.html) |
| Status | Active as of September 2026[7](https://www.marklines.com/en/news/350132) |
## What Nexeon makes: silicon anode materials
In a conventional lithium-ion cell, the anode is largely graphite. Nexeon's product replaces part or all of that graphite with silicon, which the company says dramatically increases energy density.[5](https://www.nexeonglobal.com/) The attraction of silicon is physical: it can hold around 10 times more lithium by mass than graphite. The difficulty is mechanical: silicon expands as it charges and contracts as it discharges, which can gradually destroy the electrode around it.[8](https://techlensmedia.com/news/nexeon-raises-100m-to-scale-silicon-anode-battery-technology)
Nexeon offers two material routes. NSP1 is the incremental option, replacing up to 10% of graphite by weight. NSP2 goes further: according to the company, its proprietary structure contains silicon's expansion while displacing far more graphite, without forcing battery manufacturers to abandon familiar cylindrical, prismatic, or pouch-cell production. On the company's own description, NSP2 needs only approximately 50% of the original graphite volume to deliver the same performance.[8](https://techlensmedia.com/news/nexeon-raises-100m-to-scale-silicon-anode-battery-technology) • [5](https://www.nexeonglobal.com/)
**Claimed benefits.** Nexeon says its material can reduce EV pack size, mass, and cost while retaining the same range and performance, and that a carmaker could either use fewer cells for the same output or raise typical vehicle range by roughly 20% to 40%. These are company-reported estimates rather than independently verified figures.[5](https://www.nexeonglobal.com/) • [8](https://techlensmedia.com/news/nexeon-raises-100m-to-scale-silicon-anode-battery-technology)
## Founding and history
Nexeon was founded in 2006 as a spinout from Imperial College London and moved to Milton Park in Oxfordshire in 2010 to expand its operations.[8](https://techlensmedia.com/news/nexeon-raises-100m-to-scale-silicon-anode-battery-technology) • [2](https://www.miltonpark.co.uk/business/company-spotlight-nexeon/) The sources in the record do not name the founders; Dr Scott Brown is the company's CEO.[1](https://www.prnewswire.co.uk/news-releases/nexeon-welcomes-honda-as-a-strategic-investor-302781876.html) The company reports nearly 100 employees from more than 20 nationalities.[2](https://www.miltonpark.co.uk/business/company-spotlight-nexeon/)
## Funding and investors
On 3 August 2022, Nexeon announced the completion of a fundraise. An US$80 million first close was led by SKC, a Korean advanced materials company, together with the private equity firm SJL. A US$90 million second close added GLY Mobility Fund, Daishin Private Equity, and Shinhan Investments, bringing total investment to US$170 million; a further US$50 million of commercial investments in Nexeon's technologies was reported separately, which is why the announcement carried the headline "over $200m".[3](https://www.businesswire.com/news/home/20220803005469/en/Nexeon-Raises-Over-%24200m-to-Fund-Battery-Materials-Manufacturing)
In 2026 two further events followed. On 28 May 2026, Nexeon announced a strategic investment from Honda Motor Co., Ltd. through its Honda Xcelerator Ventures open innovation program; CEO Scott Brown described it as validation of the company's commercial traction as it moves to commercialize its technology.[1](https://www.prnewswire.co.uk/news-releases/nexeon-welcomes-honda-as-a-strategic-investor-302781876.html) Then, on 31 August 2026, the UK's National Wealth Fund committed £52.6 million ($70 million), completing a round totalling £100 million ($133 million). The Korea Development Bank and Honda Xcelerator Ventures joined as new investors in the round.[4](https://www.nationalwealthfund.org.uk/news-and-publications/news/national-wealth-fund-backs-uk-battery-innovator-nexeon-in-100m-investment-round/) • [7](https://www.marklines.com/en/news/350132) Salica Investments, an existing shareholder, said it had backed Nexeon as a major investor for six years by that point.[6](https://salicainvestments.com/nexeon-completes-100m-investment-round-with-new-investor-national-wealth-fund/)
The 2026 figures differ between sources on one point: the National Wealth Fund's own announcement states its contribution as £52.6 million ($70 million), while one outlet reported it as €61.4 million. The fund's own figure is the primary record.[4](https://www.nationalwealthfund.org.uk/news-and-publications/news/national-wealth-fund-backs-uk-battery-innovator-nexeon-in-100m-investment-round/) • [8](https://techlensmedia.com/news/nexeon-raises-100m-to-scale-silicon-anode-battery-technology)
## Manufacturing and traction
**Gunsan, South Korea.** Nexeon has brought online what it describes, and the National Wealth Fund describes, as the first volume production facility globally for silicon-carbon materials dedicated to lithium-ion batteries. The site sits alongside OCI, giving Nexeon direct access to silane, a critical precursor, through dedicated infrastructure.[4](https://www.nationalwealthfund.org.uk/news-and-publications/news/national-wealth-fund-backs-uk-battery-innovator-nexeon-in-100m-investment-round/) • [8](https://techlensmedia.com/news/nexeon-raises-100m-to-scale-silicon-anode-battery-technology) The company also reports a long-term commercial supply relationship with [Panasonic](https://www.edgepedia.org/panasonic).[8](https://techlensmedia.com/news/nexeon-raises-100m-to-scale-silicon-anode-battery-technology)
**United Kingdom.** The National Wealth Fund financing supports development of a UK-based pilot manufacturing facility and expansion of Nexeon's advanced manufacturing technology unit.[4](https://www.nationalwealthfund.org.uk/news-and-publications/news/national-wealth-fund-backs-uk-battery-innovator-nexeon-in-100m-investment-round/) The company's Milton Park site already hosts an advanced manufacturing pilot facility that takes lab-developed material formulations, proves them at scale, and ships samples to prospective customers.[2](https://www.miltonpark.co.uk/business/company-spotlight-nexeon/)
On commercial traction, Nexeon said in 2022 that it was already supplying Tier 1 global battery manufacturers and OEMs, and that the round would fund expansion toward producing tens of thousands of metric tonnes of silicon-based anode material annually. No independent revenue reporting appears in the record, so the company's commercial scale rests on these company statements.[3](https://www.businesswire.com/news/home/20220803005469/en/Nexeon-Raises-Over-%24200m-to-Fund-Battery-Materials-Manufacturing)
## Recent developments
The 2026 record marks a shift from development to industrialization. Since late 2023 the company has secured a strategic investment from Honda (May 2026), completed a £100 million round with state backing from the National Wealth Fund alongside the Korea Development Bank and Honda Xcelerator Ventures (August 2026), brought the [Gunsan](https://www.edgepedia.org/gunsan) volume plant online, and committed to a UK pilot manufacturing facility.[1](https://www.prnewswire.co.uk/news-releases/nexeon-welcomes-honda-as-a-strategic-investor-302781876.html) • [4](https://www.nationalwealthfund.org.uk/news-and-publications/news/national-wealth-fund-backs-uk-battery-innovator-nexeon-in-100m-investment-round/) The investor mix itself is the signal: Honda Motor Co., the Korea Development Bank, and the UK's National Wealth Fund now sit alongside the earlier Korean industrial and private equity backers.[4](https://www.nationalwealthfund.org.uk/news-and-publications/news/national-wealth-fund-backs-uk-battery-innovator-nexeon-in-100m-investment-round/) • [3](https://www.businesswire.com/news/home/20220803005469/en/Nexeon-Raises-Over-%24200m-to-Fund-Battery-Materials-Manufacturing)
## References
1. [Nexeon Welcomes Honda as a Strategic Investor (PR Newswire, 28 May 2026)](https://www.prnewswire.co.uk/news-releases/nexeon-welcomes-honda-as-a-strategic-investor-302781876.html)
2. [Company Spotlight: Nexeon (Milton Park)](https://www.miltonpark.co.uk/business/company-spotlight-nexeon/)
3. [Nexeon Raises Over $200m to Fund Battery Materials Manufacturing (Business Wire, 3 August 2022)](https://www.businesswire.com/news/home/20220803005469/en/Nexeon-Raises-Over-%24200m-to-Fund-Battery-Materials-Manufacturing)
4. [National Wealth Fund backs UK battery innovator Nexeon in £100m investment round](https://www.nationalwealthfund.org.uk/news-and-publications/news/national-wealth-fund-backs-uk-battery-innovator-nexeon-in-100m-investment-round/)
5. [Nexeon company website](https://www.nexeonglobal.com/)
6. [Nexeon completes £100m investment round with new investor, National Wealth Fund (Salica Investments)](https://salicainvestments.com/nexeon-completes-100m-investment-round-with-new-investor-national-wealth-fund/)
7. [Nexeon raises funds from National Wealth Fund to strengthen UK's battery supply chain (MarkLines, 1 September 2026)](https://www.marklines.com/en/news/350132)
8. [Nexeon Raises £100M to Scale Silicon Anode Battery Technology (TechLens Media)](https://techlensmedia.com/news/nexeon-raises-100m-to-scale-silicon-anode-battery-technology)
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*Topic: Encyclopedia › Technology and the built world › Energy technology › Batteries and energy storage › Battery materials and components*
*Initially written Sep 17, 2026 · Edited: Oct 11, 2026; Oct 15, 2026*
*Copyright 2026 EdgeChat AI, a subsidiary of Biostate AI.*
License: Edgepedia Community License 1.0, https://www.edgepedia.org/edgepedia/license