Gelion (GELN) Status Update summary

Strategic progress and technology breakthroughs

• Achieved significant advancements in sulfur battery technology, with external recognition and breakthrough results, including over 1,000 cycles and six-minute charge/discharge capabilities through collaboration with Max Planck.

• Assembled a comprehensive IP portfolio with 229 patents, integrating acquisitions from Johnson Matthey, Oxis Energy, and Oxford, and secured key partnerships in the UK, Europe, Australia, and the US.

• Adopted a capital-light business model focused on materials and licensing, aiming to integrate sulfur cathode technology into existing battery supply chains rather than building gigafactories.

• Secured a three-year collaboration with Max Planck and a major AUD 5 million government grant to scale up production and commercialize new materials.

• Signed a materials transfer agreement (MTA) with a tier-one battery manufacturer, advancing toward broader commercial collaborations.

Financial performance and outlook

• Achieved cost savings of GBP 1.6 million (21%) compared to FY 2023, with operational efficiencies and improved team performance.

• Forecasts FY 2025 revenue growth of 34%-35%, primarily from the integration business, with revenue expected to reach GBP 1 million.

• Adjusted EBITDA loss projected to improve by 10% in FY 2025 to GBP 4.3 million, a 28% improvement over FY 2023.

• Completed an oversubscribed capital raise of approximately GBP 2.6 million to fund business development, technology scaling, and working capital.

• Integration business is generating early revenue and margin, with a strong pipeline and ongoing customer conversions.

Market positioning and commercial strategy

• Sulfur and sodium-sulfur battery technologies positioned as cost-effective, abundant, and environmentally friendly alternatives to incumbent chemistries.

• Targeting applications in drones, EVs, stationary storage, and grid services, with early adoption expected in drone markets.

• Strategic focus on partnerships with leading battery manufacturers globally, including non-exclusive collaborations across key geographies.

• Business development efforts are strong, with engagement from top global battery manufacturers and support from UK and Australian governments.

• Risk mitigation and IP protection are priorities, with plans to defend against copycat producers and leverage the robust patent portfolio.