The consortium, which incorporates personal fairness corporations SJL Partners and BNW Investment, invested $33 million in Nexeon final November.
View PhotosNexeon is thought for producing silicon anodes, an important element in electrical car (EV) batteries
A consortium together with South Korean chemical firm SK Co Ltd has invested $80 million in British battery supplies startup Nexeon to ramp up manufacturing of its silicon anodes to satisfy world demand, the corporations stated on Wednesday.
The consortium, which incorporates personal fairness corporations SJL Partners and BNW Investment, invested $33 million in Nexeon final November.
Nexeon, which relies in Abingdon, England, is thought for producing silicon anodes, an important element in electrical car (EV) batteries, which increase car vary and charging pace and decrease charging prices.
As carmakers race to convey extra electrical automobiles to market, they’re in search of methods to extend the vary of their automobiles to offer them a aggressive edge, together with by exploring new chemistries.
The startup stated the funding and a brand new strategic partnership with SK would assist it enhance manufacturing 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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With inputs from NDTV
