According to the latest report, SKC, a chemical subsidiary of SK Group, the third-largest group in South Korea, said it would invest US$33 million in Nexeon, a British battery material manufacturer.
SKC said it will form a consortium with private equity funds SJL Partners and BNW Investment to invest a total of US$80 million in Nexeon.
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Among them, SKC and BNW Investment will contribute 51% of the investment, while SJL Partners will recruit additional investors to handle the remaining 49% of the investment. Through this transaction, SKC will acquire part of the shares of Nexeon.
Moreover, Nexeon was established in 2006 and has technology that can quickly and cheaply produce silicon anodes used in batteries. Silicon anode is a key component in electric vehicle batteries, which can increase the driving range and charging speed of electric vehicles.
In September this year, SKC will expand the production capacity of its main battery raw materials in order to gain more market share.
