UK’s Nexeon Raises $14M For Silicon Anode Production

Feb 17 2009 | 12:01am ET

UK-based energy storage start-up Nexeon Limited has raised GBP 10 million ($14.2 million) to continue development of its silicon-based anodes for lithium-ion batteries.

PUK Ventures contributed GBP 1 million ($1.4 million) to the funding, Invesco Perpetual contributed GBP 5 million and the Imperial College London invested GBP 4 million through its venture arm, Imperial Innovations.

Nexeon has been developed within the Imperial College London’s innovations incubator, the goal of which is to commercialize technologies developed by the university’s professors. Nexeon was founded by Professor Mino Green of the university’s electrical engineering department.

Nexeon plans to use the money raised to build a pilot manufacturing facility. The latest funding round follows a GBP 4.25 million round in July 2007.

The company has developed proprietary processes and machines for producing the material and for making electrodes and plans to sell non-exclusive licenses for its technology.

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...