DNV, the independent energy expert and assurance provider, has completed technical due diligence (TDD) and commercial due diligence (CDD) for the National Wealth Fund (NWF) to support the expansion of Nexeon Ltd operations, ultimately strengthening the UK’s battery supply chain, creating jobs and boosting growth.
The investment forms part of Nexeon’s latest £100 million funding round and will support the expansion of the company’s UK operations, including its research and development activities, a UK-based pilot manufacturing facility and its advanced manufacturing technology unit. The investment is expected to strengthen the UK battery supply chain, support highly skilled jobs and advance the commercialisation of next-generation battery technology.
Nexeon’s silicon anode materials enable the production of higher-energy-density lithium-ion batteries, helping to reduce charging times and extend the range of electric vehicles. The investment supports the company’s continued scale-up and commercialisation activities, marking a further milestone in its progression towards high-volume manufacturing and global customer adoption.
As advanced battery manufacturing and materials innovation attract increasing institutional and strategic investment, technical and commercial due diligence is playing a more central role in investment decisions. Investors are seeking greater visibility into the technical maturity, performance, scalability and long-term commercial viability of emerging technologies, as well as the organizational and operational capabilities required to bring them successfully to market.
DNV conducted an independent assessment of the commercial and specialist technical assumptions relevant to the investment case, including an evaluation of associated risks and opportunities.
Jasjeet Singh, Project Sponsor and Technical Advisor, Energy Systems at DNV, said: 'Scaling advanced battery materials from innovation to high-volume manufacturing requires confidence not only in the underlying technology, but also in the commercial proposition, manufacturing strategy and route to market. DNV’s technical and commercial due diligence provided the National Wealth Fund with an independent assessment, helping the Fund understand the key risks, opportunities and value drivers underpinning the investment.
Nexeon’s silicon anode technology represents an important opportunity to strengthen the UK battery supply chain while supporting the next generation of higher-performance electric vehicles.'
Hari Vamadevan, Senior Vice President and Regional Director, UK and Ireland, Energy Systems at DNV, said: 'This transaction reflects the growing strategic importance of advanced battery materials to the UK’s energy transition and industrial competitiveness. For investors, the key question is no longer simply whether an innovative technology has been developed, but whether it can be commercialised, manufactured and scaled successfully within a complex global supply chain.
Independent technical and commercial due diligence helps provide the confidence needed to support informed investment in technologies that can enable higher-performance batteries and strengthen the UK’s position in the global electric-vehicle supply chain.'
The investment underlines increasing investor focus on advanced battery technologies and the strategic role of next-generation materials in enabling transport decarbonisation. Silicon anode materials can support higher-energy-density lithium-ion batteries, helping to reduce charging times and extend electric-vehicle range.
DNV’s Energy Transition Outlook 2025 forecasts that electric vehicles will account for 50% of global new vehicle sales by 2032, highlighting the scale of future demand and the importance of developing resilient and competitive battery supply chains.
Source: DNV
See also: Nexeon announcement (Aug 31 2026): National Wealth Fund backs Nexeon in £100m investment round
