Gelion PLC (AIM:GELN, OTC:GELNF, FRA:X0S) CEO Matthew Wood spoke with Proactive's Stephen Gunnion about the company's newly announced funded development and scale-up agreement with Mitsui Kinzoku, and how it fits into Gelion's wider strategy for its Nano-Encapsulated Sulfur (NES) cathode technology.
Mitsui Kinzoku, a leading Japanese supplier of metals and engineered materials with an established position in advanced battery materials, will work with Gelion to validate its sulfur-based NES cathode material in both liquid and solid-state battery cells.
The agreement includes £2 million of non-dilutive funding, structured as stage payments tied to milestones. Wood said this doesn't represent sales revenue, but payments would be recognised as commercial revenue from FY27 onwards. It also gives Mitsui Kinzoku an option to negotiate manufacturing and distribution rights for Gelion's NES material in certain Asian territories, with terms still to be agreed.
"This agreement adds a major global tier one battery materials manufacturer to our partner network," Wood said, adding that while Gelion still has milestones to meet, the deal marks a pathway towards commercial-scale NES production.
Wood said the Mitsui Kinzoku tie-up complements Gelion's other recent activity, including IP arrangements with the Max Planck Institute, programmes with TDK, Kinetic and Nissan, and its US entry via an agreement with the National Lab of the Rockies. Looking ahead, he said Gelion remains focused on delivering across its partnerships, with further news flow expected.
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