Gelion signs development agreement with Mitsui Kinzoku
Gelion PLC on Friday announced a deal that is said was "another step on our journey through validation to commercial production."
The London-based battery energy storage systems firm said it signed a funded joint development agreement with Tokyo-based Mitsui Kinzoku, which will pay £2 million in milestone-linked payments to validate Gelion's nano-encapsulated sulfur [NES] cathode active material in high-energy-density liquid and solid-state sulfur battery cells.
The collaboration aims to establish Mitsui Kinzoku as Gelion's partner for scaling production of its NES cathode material and includes an option to negotiate manufacturing and distribution rights in certain Asian territories.
Gelion said the agreement provides a pathway to industrial-scale production and strengthens its commercial partnerships with a major global battery materials supplier.
Gelion Chief Executive Officer Matt Wood said: "This agreement is another step on our journey through validation to commercial production. Mitsui Kinzoku will be an ideal partner to help us establish NES production facilities and, if all goes to plan, see us through to full-scale commercial supply.
"The agreement aligns perfectly with the work we are doing in the US under a cooperative research & development agreement with the Department of Energy's National Laboratory of the Rockies to build and operate a pilot-scale Gelion NES cathode active material facility from US all-domestic resources, which is an important step on the path to full-scale commercial supply."
Mitsui Kinzoku said: "Guided by its purpose, 'We promote the well-being of the world through a spirit of exploration and diverse technologies,' Mitsui Kinzoku is working to create new value in the battery materials field. Through co-creation with external partners, we will continue contributing to the realisation of a sustainable mobility and energy society."
Gelion shares fell 2.1% to 18.11 pence each on Friday afternoon in London.
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