£2m for Nexeon to ramp silicon battery material production
Nexeon has raised an additional £2m (€2.3m) for to boost high volume manufacture of silicon materials for high performance batteries.
The funding from the Automotive Transformation Fund (ATF) will be used towards a project to install a larger scale manufacturing facility in the UK 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. This further establishes Nexeon’s role as a key player in the EV supply value chain with strong relationships with key automotive OEMs asys the company.
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“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.”
“I am pleased that this project has been successfully funded, sharing part of £15 million from our Scale-Up Readiness Validation competition”, said Ian Constance, CEO, Advanced Propulsion Centre. “With this support, the APC aims to increase confidence in large-scale manufacturing investments to build electrified supply chains in the UK. It is vital, in the transition to net zero, that the automotive sector seizes the opportunity to grow the industry, create or safeguard jobs and build on the expertise anchored here in the UK.”
Nexeon has already announced a major expansion programme following a successful funding round resulting in over $200m raised from investors including Ingevity Corporation and SKC and comes as Ilika scales up its silicon-based solid state battery production.
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