Nexeon gets £2m development award

Author: EIS Release Date: Sep 15, 2022

Nexeon, the Oxfordshire developer of battery materials, had been awarded almost £2m from the Automotive Transformation Fund (ATF).

 

The funds will be used towards a project to install a larger scale manufacturing facility in the UK, meeting the rapidly increasing demand for silicon anode material needed for battery evaluation and cell qualification programmes in the UK automotive industry.

 

The ATF fund is managed by the Advanced Propulsion Centre (APC), and Nexeon will receive the support from the Scale-up Readiness Validation (SuRV) fund, further establishing Nexeon’s role as a key player in the EV supply value chain. The company operates on a global scale and has established strong relationships with key automotive OEMs.

 

.m“We are naturally delighted to receive this award”, said Dr Scott Brown, CEO of Nexeon. “This ATF grant comes at a time of rapid expansion for Nexeon; we have already doubled in size this year, and this will support our firm commitment to achieve large scale manufacturing capability.”

 

 

 

 

 Last month, Nexeon announced a major expansion programme following a successful funding round resulting in over $200m raised from investors including Ingevity Corporation and SKC.