According to a statement released by both firms on Monday, UK battery startup Nexeon will supply high-energy silicon anode material to Panasonic for it’s newest plant in the United States in 2025.
According to the firms, the utilization of silicon-rich anodes would make it possible for Panasonic battery cells to store more energy and charge at a faster rate. Because of the higher energy density, Panasonic is able to make battery packs that are both smaller and lighter while maintaining a range comparable to that of existing battery cells.
The material will be supplied by Nexeon, which has its headquarters in Abingdon, to the Panasonic Energy Co. factory in De Soto, Kansas, which is expected to open in the early years of 2025 and cost $4 billion.
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Nexeon‘s rivals in the race to develop silicon-rich anodes include two young companies based in the United States: Group14, which operates out of Woodinville, Washington, and Sila Nanotechnologies, which operates out of Alameda, California.
According to the investor website PitchBook.com, UK battery startup Nexeon was established in 2006 and has successfully raised more than $260 million since its inception. The company is currently valued at $350 million. The SK Group, a manufacturer of batteries and battery materials based in Korea, is one of the company’s corporate investors and partners.
According to PitchBook, Group14 has successfully funded 650 million dollars and was most recently valued at 3 billion dollars. The German automobile manufacturer Porsche, in addition to SK and BASF, is one of the company’s corporate investors. A deal has been reached between Group14 and the Porsche affiliate Cellforce to supply silicon anode materials.
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According to PitchBook, Sila has received 935 million dollars in funding and was most recently valued at $3.3 billion. Companies such as Mercedes-Benz, Siemens, Samsung, and the Chinese battery giant CATL are among the corporate backers. In 2025, Mercedes is expected to become Sila’s first automotive customer, with the German automaker beginning production of Sila’s EQG electric SUV.
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