Gelion (GELN) Status Update summary

Strategic and technological progress

• Achieved significant breakthroughs in sulfur battery technology, improving power and cycle life to levels competitive with leading lithium-ion chemistries.

• Established a three-year collaboration with Max Planck Institute, enabling over 1,000 cycles and six-minute charge/discharge capabilities.

• Built a robust IP portfolio with 229 patents, including acquisitions from Johnson Matthey, Oxis Energy, and Oxford, covering cathode, anode, electrolyte, and battery management systems.

• Secured a AUD 5 million government grant to scale up Max Planck material production in Sydney.

• Focused on a capital-light business model, integrating into existing supply chains and targeting partnerships with tier-one manufacturers.

Commercialization and business development

• Integration business is generating early revenue and margin, with a strong pipeline and recent project success with Borg.

• FY 2025 forecast includes 34%-35% revenue growth, driven by integration revenue, and a 10% reduction in adjusted EBITDA loss.

• Recently completed an oversubscribed capital raise of approximately GBP 2.6 million to support business development and technology scaling.

• Signed a materials transfer agreement (MTA) with a tier-one battery manufacturer, with further collaborations in progress.

• Actively developing strategic partnerships across the UK, Europe, Australia, US, and India, aiming to be a global leader in sulfur cathode materials.

Market positioning and outlook

• Sulfur and sodium-sulfur batteries positioned as abundant, low-cost, and environmentally friendly alternatives for energy storage and transportation.

• Technology enables compatibility with existing lithium-ion manufacturing processes, facilitating adoption.

• Early adoption expected in drone and stationary storage markets, with progressive integration into broader applications.

• Strong government and industry support, with business development targeting top global battery manufacturers.

• Focused on risk mitigation, IP defense, and maximizing shareholder value through disciplined management and strategic collaborations.