Gelion secures £2m battery development deal with Mitsui Kinzoku

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LONDON - Gelion plc (AIM:GELN) announced today a joint development agreement with Mitsui Kinzoku Co Ltd to validate its Nano-Encapsulated Sulfur cathode active material in sulfur battery cells, according to a press release statement.
Under the agreement, Mitsui Kinzoku will pay Gelion £2 million in staged payments linked to project milestones. The collaboration aims to develop high-energy-density liquid and solid-state sulfur battery cells for automotive, stationary storage, consumer electronics, and aerospace and defense applications.
The agreement includes an option for Mitsui Kinzoku to negotiate manufacturing and distribution rights for Gelion’s NES cathode active material in certain Asian territories, though specific terms remain confidential.
Mitsui Kinzoku is a Japan-based supplier of metals and engineered materials listed on the Prime Market of the Tokyo Stock Exchange (5706:TYO) with a market capitalization of approximately £8.4 billion as of Wednesday.
Gelion is developing technology to replace critical minerals in lithium-ion battery cathodes with sulfur-based materials. The company states its NES material is compatible with existing global manufacturing lines and uses sulfur, which it describes as abundantly available.
Matt Wood, Gelion CEO, said the agreement represents "another step on our journey through validation to commercial production" and aligns with work being conducted under a Cooperative Research and Development Agreement with the U.S. Department of Energy’s National Laboratory of the Rockies.
Gelion’s existing partnerships include collaborations with TDK and Mitsui Kinzoku in Japan, QinetiQ and Nissan in the UK, the National Laboratory of the Rockies in the U.S., and the Max Planck Institute of Colloids and Interfaces in Germany.
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