Nexeon secures £52.6 million from UK National Wealth Fund

British battery materials developer Nexeon has secured £52.6 million from the UK National Wealth Fund as part of a £100 million investment round. The company said the funding is aimed at expanding its domestic operations and developing a pilot manufacturing facility.

Other new investors in the round include the Korea Development Bank and Honda Xcelerator Ventures.

The announcement does not provide further details on the timeline or location of the planned manufacturing facility.