Nexeon manufactures silicon-based anode materials for rechargeable lithium-ion batteries.
Nexeon said it will use the proceeds of the oversubscribed round to expand its own manufacturing capabilities to be able to supply “tens of thousands of metric tonnes annually”.
“Lithium-ion is the dominant battery technology for portable device applications, particularly the electric vehicle market,” says CEO Scott Brown, “we see wide-ranging market opportunities for our products given the continued improvement in battery technology, environmental pressures and new and widening market opportunities to address growing demand in all walks of life.”
