MatNex, which trades as Materials Nexus, uses AI and quantum mechanics to discover and design new materials for industry, with a focus on cheaper, more resilient, higher-performance alternatives for net-zero applications such as renewable energy generation, energy storage, transport, sustainable computing, wind energy, fusion, and data centers. The company says its platform can compress materials development from decades to months and has filed a patent on a rare-earth-free magnetic system. It was co-founded by Jonathan Bean, who is chief executive officer, and Robert Forrest, who is chief technology officer. MatNex raised a £2 million seed round in 2023 led by Ada Ventures, with participation from Cambridge Enterprise Ventures, MD One Ventures, and angel investors Andrew MacKay and Jasmin Thomas. Public sources describe the company as U.K.-based and headquartered in the United Kingdom, but do not consistently specify a city.