Gelion PLC - London-based Anglo-Australian battery storage company - Announces new lithium-sulphur research and development facility in Sydney, which is designed to optimise development and accelerate market readiness of this technology by producing more advanced cell prototypes. Says the facility will allow it to advance prototyping toward cell development, and also to capitalise on the combination of existing technologies with intellectual property packages acquired from Johnson Matthey in March. Gelion adds that the facility and its output will help "underpin the winning of contracts and subsequent scale up to commercial manufacture".
Chief Executive Officer John Wood says: "The site has the capability to increase Gelion's prototyping toward cell development and the progressive commissioning of the capability commenced in late September 2023. The opening of this facility further evidences the steady progress Gelion is making on its path to commercialisation. We are incredibly excited to be opening this research and development facility to increase capacity to ensure we optimise development of Lithium Sulfur for the rapidly expanding market."
Current stock price: 24.30 pence, down 0.8% in London on Wednesday at noon
12-month change: down 68%
By Holly Beveridge, Alliance News reporter
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Gelion (GELN)