UK National Wealth Fund, Korea Development Bank, and Honda Xcelerator Ventures invest £100 million in Nexeon for UK battery materials manufacturing expansion
Type: Financing · Technology: Storage · Country: United Kingdom · Announced: 2026-09-01
Nexeon secured £100 million (approximately USD 125 million) in a financing round led by the UK National Wealth Fund, which committed £52.6 million, alongside Korea Development Bank and Honda Xcelerator Ventures. The capital will fund the development of a UK pilot manufacturing facility for silicon-based battery materials, expand research and development activities, and scale advanced manufacturing technology. Nexeon specializes in silicon-anode materials that enhance lithium-ion battery energy density, reduce charging times, and extend electric vehicle range. The investment aligns with the UK's strategy to build a globally competitive EV supply chain, as outlined in a recent National Wealth Fund thought-leadership paper. Oliver Holbourn, CEO of the National Wealth Fund, emphasized the deal's role in supporting clean energy innovation and high-value job creation. Dr Scott Brown, Nexeon CEO, highlighted the strategic importance of the financing in advancing battery performance and strengthening the UK's position in the global battery supply chain.
Counterparties
- Korea Development Bank (Lender)
- UK National Wealth Fund (Lender)
- Honda Xcelerator Ventures (Investor)
- Nexeon (Borrower)
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