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Nexeon secures €116.7 million with support from the National Wealth Fund, Korea Development Bank, and Honda Xcelerator Ventures to expand domestic operations.

PRIVATEAug 31, 2026•2 days ago

Amount Raised

€117 Million

Round Type

Venture - Series Unknown

Abingdon

Investors

Honda Xcelerator VenturesKorea Development BankNational Wealth Fund

Description

Nexeon, a developer of advanced silicon-based battery materials, has completed an investment round totaling €116.7 million. The National Wealth Fund committed €61.4 million, while additional support came from Korea Development Bank and Honda Xcelerator Ventures. This capital will help expand Nexeon's UK operations and strengthen the local battery supply chain. The investment underscores Nexeon's role in advancing battery technology and creating jobs in the UK.

Company Information

Company

Nexeon

Location

Abingdon, England, United Kingdom

About

A consortium including South Korean chemical company SK Co Ltd has invested $80 million in British battery materials startup Nexeon to ramp up production of its silicon anodes to meet global demand, the firms said on Wednesday. Nexeon, which is based in Abingdon, England, is known for producing silicon anodes, a crucial component in electric vehicle (EV) batteries, which boost vehicle range and charging speed and lower charging costs.As carmakers race to bring more electric vehicles to market, they are seeking ways to increase the range of their vehicles to give them a competitive edge, including by exploring new chemistries.The startup said the funding and a new strategic partnership with SK would help it increase production and meet “rapidly increasing demands from its blue-chip customers in automotive and consumer electronics industries across Europe, North America, and Asia.”

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