Last checked at 1 Feb 2022 07:00
1 February 2022
Gelion plc
("Gelion" or the "Company")
Acciona Energía to trial Endure batteries at solar plant in Europe
Gelion (AIM: GELN), the Anglo-Australian battery storage innovator, is pleased to announce that the Company has signed a test and supply contract with European renewables company Acciona Energía to trial Gelion's Endure zinc-bromide battery technology at Acciona Energía's Montes del Cierzo photovoltaic solar plant in Navarra, northern Spain (the "Plant").
HIGHLIGHTS
· As stated In the Admission Document published by Gelion on 24 November 2021, the Company was selected to test and trial its batteries by a "leading global renewable energy company headquartered in Europe" following a competitive process launched in September 2020.
· Gelion has now signed a test and supply contract with Acciona Energía to integrate its Endure battery technology into the Plant for a six- to 12-month period starting Q3 2022.
· If this trial integration is successful, the Endure battery is expected to form part of Acciona Energía's supplier portfolio as a renewable energy storage provider.
· Acciona Energía is one of Europe's largest sustainable energy companies with global revenues of the Acciona Group in excess of €6 billion in 2020.
Andrew Grimes, CEO of Gelion, commented "This is a strong show of confidence in our robust energy storage technology. We are pleased to have been selected by Acciona Energía to trial our batteries in-field at its experimental renewable energy facilities. This is particularly pleasing coming so soon after our successful admission to trading on AIM, which has given us the funds and platform to accelerate our growth."
María Ángeles Medrano, Acciona's Energía's Research Manager, said: "At Acciona Energía's Innovation Department, we seek convergence between the best storage solutions and the most innovative technologies, allowing us to improve the operation of renewable generation and offer the best grid services."
INVESTOR PRESENTATION
Gelion will provide a live presentation via the Investor Meet Company platform on 2 February at 10.00 am GMT. The presentation is open to all existing and potential shareholders.
Investors can sign up to Investor Meet Company for free and add to meet Gelion via: https://www.investormeetcompany.com/gelion-plc/register-investor
Investors who already follow Gelion on the Investor Meet Company platform will automatically be invited.
BACKGROUND
In September 2020, Acciona Energía launched the I'MNOVATION programme to discover emerging and innovative solutions in energy storage through collaboration with growing businesses worldwide. Ten emerging energy storage companies participated in the programme with four selected to proceed to the trial, including Gelion, as disclosed in the Company's Admission Document.
Further to its initial selection, Gelion has now signed a formal test and supply contract with Acciona Energía. This contract sets out the parameters upon which the Endure battery will be tested at the Plant over three stages of verification: technical verification; integration; and real operating conditions testing.
This testing will take place at the Plant over six to 12 months starting with installation in Q3 2022.
Successful testing will be determined upon the completion of pre-defined battery test performance criteria.
In the event of success, Gelion expects that Endure will form part of Acciona Energía's supplier portfolio as a renewable energy storage provider
ACCIONA ENERGíA
Acciona Energía is one of Europe's largest sustainable technology companies with a market capitalisation of more than €9 billion and renewable energy and sustainable technology projects on every populated continent.
Acciona Energía is the world's largest 100% clean-energy operator, with 11,188MW installed in leading renewable technologies.
The company has power generation assets based on renewable sources, which as of 30 June 2021, amounted to 11,188 MW: 78% of these are from wind power, 13% photovoltaic, 8% hydroelectric and the rest correspond to facilities in biomass and solar thermal energy plants.
51% of the capacity in which it has a stake is in Spain, while the rest is distributed throughout 15 countries: Australia, United States, Canada, Mexico, Costa Rica, Chile, Portugal, Italy, Hungary, Poland, Croatia, Ukraine, India, South Africa and Egypt.
For more information visit acciona.com.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN ARTICLE 7 OF THE MARKET ABUSE REGULATION EU NO. 596/2014, AS RETAINED AND APPLICABLE IN THE UK PURSUANT TO S3 OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (AS AMENDED). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
CONTACTS
Gelion plc Andrew Grimes, Chief Executive Officer Thomas Maschmeyer, Founder and Principal Technology Advisor Marcus Strom, Corporate Communications
| via Tavistock |
finnCap Ltd (Nominated Adviser and Sole Broker) | +44 207 220 0500 |
Christopher Raggett Seamus Fricker Barney Hayward
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Tavistock (Financial PR Adviser) Simon Hudson Nick Elwes Rebecca Hislaire
| +44 207 920 3150 gelion@tavistock.co.uk |
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Notes to editors
Gelion (AIM: GELN) is a publicly listed company on the London Stock Exchange AIM market. It was founded as a spin-out from the University of Sydney in 2015 by Professor Thomas Maschmeyer, one of the world's leading chemists who was awarded the Australian Prime Minister's Prize for Innovation 2020.
Gelion is a global renewable-energy storage innovator. By designing leading-edge battery technology for stationary and mobile energy, the Company supports the transition to a sustainable economy while delivering value for customers and investors.
· The Gelion Endure battery uses low-cost, abundant raw materials and is based on a chemistry that is highly resistant to fire.
· The batteries are scalable, using lead-acid battery manufacturing technology, and the Company expects to develop megawatt-hour capacity for large-scale infrastructure, including for solar and wind farms.
· With applications in agriculture, mining, water management and irrigation the battery is highly adaptable for off-grid use.
In addition to investing in the growth of its zinc-bromide technology, the Company will use funding to develop its mobile energy division to enhance existing lithium-ion and lithium-sulfur battery technologies used in electric vehicles and the emerging market in electric aviation.
For the mobile market, Gelion's technology pipeline includes:
· Highly tuneable, low-cost silicon nanoparticle additives for next-generation advanced lithium-ion batteries, which are safer and have higher energy density.
· A low-cost additive, which increases the lifetime of lithium-sulfur batteries by more than four times, delivering up to three times higher energy by weight than conventional lithium-ion batteries.
Using additive technology developed by its R&D team, which cooperates closely with scientists at the School of Chemistry and the University of Sydney Nano Institute, Gelion will develop and license additives for advanced lithium-silicon and lithium-sulfur technologies for ultra-high-density batteries to extend the cycle-life and safety of mobile energy storage.
Gelion also recently announced a partnership with Battery Energy Power Solutions in Sydney to manufacture and distribute its zinc-bromide batteries for the Australian market.
Gelion qualified for the LSE Green Economy Mark which recognises London-listed companies and funds that derive more than 50% of their revenues from products and services that are contributing the environmental objectives such as climate change mitigation and adaptation, waste and pollution reduction, and the circular economy.
To find out more, please visit: www.gelion.com.