Both investors are current investors and boosted their holdings when the shares became available as a result of the disposal of the Partnerships UK ventures portfolio. PUK Ventures previously held 10 per cent of the shares in Oxfordshire-based Nexeon.
Nexeon’s technology replaces the carbon anode found in current Li-ion batteries with a silicon-based equivalent that is said to produce higher energy density and longer operating times between charges.
According to a statement, the higher power-to-weight ratio is important for applications in the automotive sector, where it could lead to the development of electric vehicles with increased driving range and lower weight.
In consumer electronics, benefits include longer operating times between charges, brighter display screens and smaller devices.