Chemical and materials company Ingevity has invested $60 million in silicon anode specialist Nexeon. “Ingevity’s funding will enable Nexeon to further develop its proprietary next-generation silicon anode material, NSP-2, and facilitate the construction of manufacturing facilities for the commercialization of Nexeon’s innovative products,” says Ingevity.
“With an astounding four times the energy density per gram when compared to conventional graphite anodes, Nexeon’s NSP-2 drop-in technology will deliver increased vehicle range and faster charging of lithium-ion EVs,” according to the company.
“In connection with its investment, Ingevity and Nexeon have committed to a joint development of future products involving the use of Ingevity’s activated carbon, and intend to enter into a long-term supply agreement,” says Ingevity.
Ingevity Chief Growth and Innovation Officer Erik Ripple will also represent Ingevity on Nexeon’s Board of Directors.