In February 2013, Nexeon, an Abingdon, UK-based battery materials and licensing company, received a strategic investment and signed a partnership agreement with German chemical company WACKER Chemie AG.
With the investment, whose amount was not disclosed, WACKER took a strategic stake in Nexeon.
The partnership will involve the two companies working together to scale-up the production of Nexeon’s silicon anode technology to commercial volumes.
Led by Dr Scott Brown, CEO, Nexeon is developing silicon materials to replace carbon as the anode of lithium ion (Li-ion) batteries this leading to the production of rechargeable batteries with higher charge density, enabling consumers to use their laptops and smartphones for longer and wider adoption of electric and hybrid vehicles.
The company raised £40m in 2011 in a round led by round was led Imperial Innovations Group plc (AIM: IVO). (read here).