Imperial Innovations Group Regulatory News (IVO)

24 April 2014

Imperial Innovations Group plc

Nexeon completes commissioning of manufacturing facility

Imperial Innovations plc (AIM: IVO, "Innovations", "the Group") is pleased to note that its portfolio company Nexeon Ltd, has completed the construction and commissioning of its process development and manufacturing facility at its headquarters in Oxfordshire.  

Nexeon, which is Innovations' second largest portfolio company by value, is developing silicon anode technology for the next generation of lithium ion (Li-ion) batteries. Silicon anodes offer benefits over conventional carbon anodes as they enable the development of lithium-ion cells with greater energy density. Nexeon has established a growing portfolio of patents covering materials and fabrication processes.

The company's new manufacturing plant is capable of producing over 20 tonnes of product a year, and has been built to handle a wide range of materials and reagents. In addition to the manufacturing capability, the new facility includes integrated laboratories for Process Development and Material Characterisation.

Russ Cummings, CEO of Imperial Innovations, said:

"Nexeon's new 20 tonne plant is highly versatile, with end-use applications spanning consumer electronic devices and electric vehicles. We look forward to the company sampling customers with products from this advanced manufacturing facility."

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About Imperial Innovations - www.imperialinnovations.co.uk 

Imperial Innovations creates, builds and invests in pioneering technologies developed from the academic research of the UK's four leading Universities. The Group supports scientists and entrepreneurs in the commercialisation of their ideas and intellectual property by leading the formation of new companies, providing facilities in the early stages, providing investment and encouraging co-investment to accelerate development, providing operational expertise and recruiting high-calibre management teams. It also runs an Incubator in London that is the initial home for many of its technology spin-outs.

Originally formed as the Technology Transfer office for Imperial College - a role it still carries out today, Innovations also invests in opportunities arising from intellectual property developed at, or associated with, Cambridge University, Oxford University and University College London. These are the top four research intensive universities in Europe with a research income of over £1.3 billion per annum.

Innovations invests in the most promising opportunities from whichever technology sector they arise, but has built particular expertise in the key sectors of: therapeutics, medtech, engineering and materials, and ICT.

Since listing in 2006, Innovations has invested a total of £160.9 million across its portfolio companies, which have raised collectively investment of over £750.0 million. Innovations' largest holding is in Circassia Pharmaceuticals, which listed on the London Stock Exchange main market in March 2014 with a market capitalisation of £581.0 million.

About Nexeon

Nexeon Ltd. ('Nexeon') is a battery materials company developing silicon anodes for the next generation of lithium-ion rechargeable batteries. A spin out of Imperial Innovations, Nexeon scientists have shown that producing silicon with particular morphologies makes it possible to overcome its limitations as an anode material. Batteries made with silicon anodes have significant performance advantages over their traditional equivalents.

Nexeon is based in Oxfordshire, and has a fully automated and instrumented pilot plant that closely represents a commercial manufacturing facility, and allows an accurate understanding of the processes and costs associated with making anode materials. The technology has been conceived with a 'drop in' approach, requiring the minimum of changes to an existing Li-ion battery manufacturing operation.

Nexeon has established a growing portfolio of patents covering materials and fabrication processes, and is building a store of available know-how which is available through licensing.