OXFORDSHIRE, UK — August 31, 2026 — Battery material innovator Nexeon Ltd has completed a £100 million ($133 million) investment round, backed by a £52.6 million ($70 million) commitment from the UK’s National Wealth Fund. The funding round also attracted major international backers, including Honda Xcelerator Ventures and the Korea Development Bank.
Nexeon’s silicon anode materials are designed to increase the energy density of lithium-ion batteries, helping to reduce EV charging times and extend vehicle range. The capital expansion is designated to support the scale-up and commercialization of Nexeon’s advanced silicon-based anode materials.
Expanding UK Pilot Manufacturing and R&D Capabilities
The National Wealth Fund’s investment directly targets the expansion of Nexeon’s UK domestic footprint. Capital will fund the development of a new UK-based pilot manufacturing facility, expand its advanced manufacturing technology unit, and support ongoing research and development operations while creating highly skilled technical jobs.
Dr. Scott Brown, CEO of Nexeon, said:
“This investment is a strong endorsement of Nexeon’s technology and our role in enabling the next generation of lithium-ion batteries. The National Wealth Fund’s support reflects the strategic importance of our work, not only in advancing battery performance but also in strengthening the UK’s position in the global battery supply chain.“
Oliver Holbourn, CEO of the National Wealth Fund, stated:
“Our investment in Nexeon is fully aligned with our mission to support clean energy innovation and economic growth. Backing advanced battery technology is key to building a globally competitive EV supply chain in the UK, as the thought-leadership paper we recently published identifies. This investment will help unlock private capital, support high-value jobs and drive regional growth, while helping to position the UK at the forefront of innovation in the battery sector.“
International Investor Backing and Global Scale-Up
The inclusion of international strategic partners underlines Nexeon’s position within the global battery ecosystem:
- Honda Xcelerator Ventures — the global open innovation arm of Honda Motor Co. Ltd., investing to advance mobility and electrification technologies.
- Korea Development Bank — South Korea’s policy bank, supporting industrial innovation and the global expansion of Korean-linked manufacturing networks.
- Global manufacturing footprint — the funding follows Nexeon’s recent commissioning of its commercial silicon-carbon production facility in Gunsan, South Korea.
David Lamb, CFO at Nexeon, added:
“We continue to strengthen our shareholder register with the addition of the Korea Development Bank, Honda and the National Wealth Fund. The quality of the Nexeon commercial proposition is reflected in the quality of investors we continue to attract.“
Supporting UK Industrial Strategy
The financing aligns with a joint thought-leadership paper co-published by the National Wealth Fund and the Clean Technology Partnership Initiative (CTPI) on building UK battery supply chain resilience. The report concluded that a combined approach—using equity to scale UK technology firms and debt guarantees to secure large supply chain investments—is vital for building sovereign battery capabilities.
Chancellor of the Exchequer John Healey MP noted:
“Companies like Nexeon show the strength of British innovation. And if we are serious about growth, we must be serious about backing British businesses like this with conditions for them to start, scale and succeed here in the UK, as the National Wealth Fund are doing here.
“That’s how we’ll get good growth and jobs in every postcode.“
Industry Minister Blair McDougall added:
“This investment into Nexeon is the latest win for Britain’s world-class advanced manufacturing sector, which will support skilled local jobs and keep our battery industry at the cutting edge of research and innovation.
“Hot on the heels of a £130 million investment into net zero vehicle technologies, our Modern Industrial Strategy is doubling down on frontier industries like batteries to help businesses like Nexeon grow their business, create skilled jobs and drive good growth right across the UK.“
