Key investors add to their holdings
Nexeon has received a strong signal of investor confidence with the purchase of several £million of its shares by Imperial Innovations Group and Invesco. Both investors are current investors and boosted their holdings when the shares became available as a result of the disposal of the Partnerships UK ventures portfolio. PUK Ventures previously held 10% of the shares in Nexeon.
Nexeon’s technology replaces the carbon anode found in current Li-ion batteries with a silicon-based equivalent that produces higher energy density and longer operating times between charges.
Market applications for silicon-based Li-ion batteries are strong, as the higher power to weight ratio is important for applications in the automotive sector, where it could lead to the development of electric vehicles with increased driving range and lower weight. In consumer electronics, benefits include longer operating times between charges, brighter display screens and smaller devices.
“We view this investment as a firm vote of confidence both in the potential for our unique technology, and in our recent progress“, said Dr Paul Atherton, Chairman of Nexeon, who is also a non-executive director of Imperial Innovations.
Nexeon has recently moved to new facilities in Milton Park, Oxfordshire, where it has established a new Head Office and a manufacturing pilot line on which the Company can demonstrate the performance of new anode materials in prototype battery cells.