Funded development and scale-up agreement

Gelion PLC

07 August 2026

 

7 August 2026

Gelion plc

("Gelion", "Company" or the "Group")

Funded development and scale-up agreement with Mitsui Kinzoku

Collaboration to develop high-energy-density sulfur battery architecture and establish Mitsui Kinzoku as a partner to scale Gelion's NES™ Cathode Active Material fabrication

Gelion is seeking to replace the critical minerals in current Lithium-ion battery cathodes with the Company's Nano-Encapsulated Sulfur (NES™) that are low cost and can be dropped into existing global manufacturing lines. Gelion's NES™ is made from sulfur which is abundantly available and free from supply chain constraints.

Gelion plc (AIM: GELN), the sulfur battery company, is pleased to announce a joint development agreement (JDA) with Mitsui Kinzoku Co Ltd ("Mitsui Kinzoku") to validate Gelion's NES™ Cathode Active Material ("CAM") in high-energy-density liquid and solid-state sulfur battery cells capable of meeting automotive, stationary storage, consumer electronics and aerospace and defence requirements.  The specific terms of the JDA are subject to confidentiality, but Mitsui Kinzoku will pay Gelion £2 million for the work in a series of staged payments linked to project milestones.

The JDA provides an option for Mitsui Kinzoku to negotiate manufacturing and distribution rights for Gelion's NES™ CAM for certain territories in Asia. This agreement therefore establishes a pathway to the production of Gelion's NES™ CAM at industrial levels.

Mitsui Kinzoku is a leading Japan-based global supplier of metals and engineered materials, and a leader in advanced battery materials, listed on the Prime Market of the Tokyo Stock Exchange (5706: TYO) with a market capitalisation of approximately £8.4 billion as at 6 August 2026.

Highlights

·      Joint development and funding agreement with Mitsui Kinzoku to validate Gelion's NES™ CAM in liquid and solid-state sulfur battery cells and establish a pathway to commercial-scale production of NES™

·     £2 million paid collaboration, structured through staged payments linked to project milestones.

·      Includes an option for Mitsui Kinzoku to negotiate manufacturing and distribution rights for Gelion's NES™ CAM in certain territories in Asia, on terms to be negotiated.

·      Collaboration adds a major global Tier-1 battery materials manufacturer to Gelion's partner network and supports engagement with OEMs in the automotive, stationary storage, consumer electronics and aerospace and defence sectors.

Impact on Gelion

This paid project further supports Gelion's development activities relating to the NES™ cathode within sulfur battery systems and begins the work to scale the production of NES™ CAM materials ahead of future commercial adoption.  Collaboration with Mitsui Kinzoku adds another major global Tier-1 partner to the Company's collaborators that will bring further commercial traction with OEMs.

Gelion now has collaborations with Mitsui Kinzoku and TDK (Japan), QinetiQ and Nissan (UK), National Laboratory of the Rockies (NLR) (US), and Max Planck Institute of Colloids and Interfaces (MPI) (Germany) reinforcing its leadership position in next‑generation sulfur battery innovation.

Matt Wood, Gelion CEO, commented: "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 and Development Agreement with the Department of Energy's National Laboratory of the Rockies to build and operate a pilot-scale Gelion NES™ CAM facility from US all-domestic resources, which is an important step on the path to full scale commercial supply."

Mitsui Kinzoku added  "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 realization of a sustainable mobility and energy society."

For more information, please visit Next-Generation Sulfur Battery Technologies | Gelion or contact:

Gelion plc Matt Wood, CEO Amit Gupta, CFO	via Tavistock
Strand Hanson Limited (Nominated and Financial Adviser) Christopher Raggett / Rob Patrick / Harry Marshall	[phone]
Oberon Capital (Joint Broker) Nick Lovering / Mike Seabrook / Adam Pollock	[phone]
Allenby Capital Limited (Joint Broker) Jos Pinnington / Lauren Wright (Sales and Corporate Broking) Alex Brearley / Ashur Joseph (Corporate Finance)	[phone]
Tavistock (Financial & Corporate PR) Simon Hudson / Nick Elwes / Saskia Sizen	[phone] [e-mail]

Market Abuse Regulation

This announcement contains inside information for the purposes of Article 7 of EU Regulation No. 596/2014, which forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended.

About Gelion

Gelion plc (AIM: GELN) is an advanced battery materials company developing next-generation cathode technologies for lithium-ion and lithium-sulfur batteries. Its proprietary Nano-Encapsulated Sulfur (NES™) cathode active material is designed to replace conventional critical-mineral cathodes with abundant sulfur, delivering higher energy density while remaining compatible with existing battery manufacturing infrastructure.

The Company's strategy is to commercialise NES™ through partnerships with leading industrial companies and battery manufacturers, enabling adoption within established global supply chains across automotive, defence, device and other high-performance applications. Gelion works with Tier One industrial partners including TDK & Mitsui Kinzoku (Japan), QinetiQ and Nissan (UK), National Laboratory of the Rockies (NLR) (US), and Max Planck Institute of Colloids and Interfaces (MPI) (Germany).

About Mitsui Kinzoku

Mitsui Kinzoku Company, Limited, together with its subsidiaries, manufactures and sells functional engineered and electronic materials in Japan, China, India, Asia, North America, and internationally. It operates through four segments: Functional Materials Business, Metals Business, Automotive Parts Business, and Other Businesses. The company was formerly known as Mitsui Mining & Smelting Co., Ltd. and changed its name to Mitsui Kinzoku Company, Limited in October 2025. For more information visit MITSUI KINZOKU COMPANY, LIMITED| Taking full advantage of Material Intelligence.

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