UK’s Nexeon to supply Panasonic with key components


The use of silicon-rich anodes will enable Panasonic battery cells to store more energy and charge quicker, the companies said. — Reuters

LONDON: UK battery startup Nexeon will supply high-energy silicon anode material to Panasonic’s newest American plant starting in 2025, the companies say.

The use of silicon-rich anodes will enable Panasonic battery cells to store more energy and charge quicker, the companies said. The greater energy density also gives Panasonic the option of making smaller, lighter packs with a similar range to current battery cells.

Abingdon-based Nexeon will supply the material to Panasonic Energy Co’s US$4bil (RM18.3bil) De Soto, Kansas plant, which is slated to open in early 2025.

Among Nexeon’s competitors in developing silicon-rich anodes are two US startups – Group14, based in Woodinville, Washington, and Sila Nanotechnologies, based in Alameda, California.

Founded in 2006, Nexeon has raised more than US$260mil (RM1.2bil) and was most recently valued at US$350mil (RM1.6bil), according to investor website PitchBook.com.

Among its corporate investors and partners is South Korea’s SK Group, which makes batteries and battery materials.

Group14 has raised US$650mil (RM3bil) and was most recently valued at US$3bil (RM13.7bil), according to PitchBook.

Its corporate investors include German automaker Porsche, as well as SK and BASF.

Group14 has a deal to supply silicon anode materials to Porsche affiliate Cellforce. — Reuters

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