Shulou(Shulou.com)11/24 Report--

CTOnews.com, July 25 (Xinhua)-- Nexeon, a British developer of silicon materials for lithium-ion batteries, has announced that it will supply high-performance silicon anode materials to Panasonic's latest plant in the United States from 2025.

Abington-based Nexeon will supply the material to Panasonic's $4 billion plant in Kansas, which is scheduled to open in early 2025.

Using silicon-rich anodes will increase Panasonic's battery energy density and charge faster, as well as create smaller, lighter battery packs with the same range as current batteries, the companies said.

Nexeon's competitors in developing silicon-rich anodes include two US start-ups: Group14, based in Woodingville, Washington, and Sila Nanotechnologies in Alemadeda, Calif.

Nexeon, founded in 2006, has raised more than $260 million (CTOnews.com Note: currently about 1.869 billion yuan) and has recently been valued at $350 million (currently about 2.516 billion yuan), according to the investor website PitchBook.com. Its corporate investors and partners include South Korea's SK Group, which mainly produces batteries and battery materials.

By contrast, Group14 has raised $650 million, with a recent valuation of $3 billion. According to PitchBook, its corporate investors include Porsche as well as SK and BASF. It is worth mentioning that Group14 also reached an agreement with Porsche subsidiary Cellforce to supply silicon anode materials.

So far, Sila has raised $9.35 billion, with a recent valuation of $3.3 billion. According to PitchBook, its corporate investors include Mercedes-Benz, Siemens, Samsung and Chinese battery giant Ningde Times. Mercedes plans to become Sila's first car customer in 2025, starting with the EQG Electric SUV.

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