Imperial Innovations reports that Nexeon signed partnership with WACKER

AIM-listed technology commercialisation and investment group Imperial Innovations has announced that portfolio company Nexeon, a battery materials and licensing company, has signed a strategic partnership agreement with German chemical company WACKER Chemie AG (WACKER).

The group reported that WACKER has taken a strategic stake in Nexeon.

The partnership will involve the two companies working together to scale-up the production of Nexeon's silicon anode technology to commercial volumes.

WACKER has research and chemical process capabilities as well as extensive production expertise in speciality materials and will be able to leverage its engineering and manufacturing expertise to accelerate Nexeon's scale-up plans.

Nexeon, which is Innovations' second largest investment to date, is developing silicon materials to replace carbon as the anode of lithium ion batteries.

Susan Searle, Chief Executive Officer of Innovations, said: "Backing from such a strong global company as WACKER is a great endorsement of Nexeon's silicon anode battery technology. The strategic partnership will enable Nexeon to accelerate the production and commercialisation of its materials. Nexeon's success demonstrates that our strategy to accelerate and increase investment in selected technologies is resulting in some really strong portfolio companies."

Dr Scott Brown, Chief Executive Officer of Nexeon said: "WACKER has an enviable track record of bringing innovative products to demanding global markets, and its large scale silicon processing expertise will allow us to accelerate our scale-up plans significantly."

Imperial Innovations' share price was unchanged at 276.50p at 11:56 on Friday.

MF