TIDMGELN
RNS Number : 3656S
Gelion PLC
09 March 2023
9 March 2023
Gelion plc
("Gelion" or the "Company")
Strategic acquisition of Johnson Matthey's battery materials IP
portfolio
Significantly strengthens Gelion's position in the LiSiS market
to create a sustainable future through next-generation energy
storage solutions
Gelion (AIM: GELN), the Anglo-Australian battery innovator, is
pleased to announce the acquisition of the Lithium Sulfur and
Silicon Anode ("LiSiS") patent portfolio (the "IP") (including
solid and liquid electrolytes, disordered rock salt, electrode
formulation and battery materials recycling) from Johnson Matthey
for a consideration of GBP4.25 million payable in cash and will be
funded from the Company's available resources.
Highlights
-- This highly valuable next generation Battery Materials LiSiS
patent portfolio from Johnson Matthey, following their decision
to exit this business segment, has been developed, cumulatively
over a decade, by leading scientists in the field. This acquisition
is of significant strategic importance to Gelion and has
the potential to significantly advance our effort to achieve
higher gravimetric energy density while reducing cost and
increasing safety.
-- The IP portfolio includes over 450 patents across 82 patent
families as well as development programs, technology transfer
packages, market and portfolio analyses, manufacturing design
and cost models for our LiSiS technology.
-- The combination of Gelion's existing IP portfolio and the
new IP portfolio has the potential to:
- resolve the issue of sulfur management which is
a critical issue for Lithium Sulfur batteries;
- eliminate the reliance on the maturity of Lithium
Metal anodes as the Lithium Sulfur cathodes developed
by Gelion are compatible with graphitic, silicon,
and lithium metal anodes; and
- allow for the Lithium Sulfur technology to be commercialized
rapidly.
-- Gelion is in advanced discussions to sell a subset of patents
(73 patents across 17 patent families) relating to silicon
anodes which are not essential to the Company's activities
with a third party for c. GBP1.25 million. This is in line
with Gelion's focus on sulfur cathodes and associated electrolyte
technology. Should this sale be successful, the net cash
outlay of the acquisition of the remaining IP to Gelion would
be reduced to c.GBP3 million.
-- With this intellectual property acquisition, the board is
confident that it will significantly strengthen Gelion's
position to meet the growing demand for sustainable and efficient
energy solutions.
Commenting on the IP acquisition, John Wood, CEO, said: "The
acquisition of this highly valuable IP portfolio strengthens our
own Lithium Silicon Sulfur technology and gives us a broad horizon
to be able to mature the technology toward scaled production at a
faster rate. It also positions Gelion at the forefront of the
global battery technology effort for the next generation of safe,
high energy density Lithium batteries.
"We are very enthusiastic about the unique path, we are
developing towards high performance Lithium Sulfur technologies.
This IP portfolio will help in our objectives toward achieving a
protective moat for Gelion's technology.
Lithium Sulfur is widely anticipated as the next stage of the
Lithium energy storage industry and through combining the leading
IP portfolio, in the most promising Lithium battery technology
segment, with our breakthrough technology development, we believe
we have established a very exciting opportunity."
Acquisition of highly valuable IP portfolio acquisition from
Johnson Matthey
Gelion has acquired Johnson Matthey's entire Lithium Sulfur and
Silicon Anode patent portfolio which includes over 450 patents
across 82 patent families, as well as silicon alloy development
program, technology transfer packages, market and portfolio
analysis, and manufacturing design and cost models. With the
Group's focus on Sulfur cathodes, Gelion is in advanced discussions
to the sale of the 73 patents and applications relating to silicon
anode to a third party. Should the sale be successful, this would
result in a net cash outflow of c. GBP3m which will be settled from
the Company's existing resources.
The IP acquired is a very valuable portfolio that covers various
essential aspects of Lithium Sulfur technologies. However, we
recognize that one significant challenge in this field is sulfur
management, which if left unaddressed, can lead to batteries with
limited cycle life and reduced commercial feasibility. We are
confident that our existing IP portfolio, which offers a
cutting-edge solution for this issue, will complement, and enhance
the newly acquired portfolio. By combining the strengths of both
portfolios, we can offer a clear pathway to a commercially viable
product, providing us with a crucial strategic advantage in a
highly competitive market.
This combined portfolio will allow Gelion to establish a strong
and resilient IP portfolio, which will provide effective protection
to retain a strategic advantage over competitors in the same space.
The consolidation of both portfolios in conjunction with Gelion's
unique development strategy, will facilitate the rapid acceleration
in technology development and provides a strategic path to
commercialisation that eliminates any reliance on advancements
required to develop mature lithium metal anodes. Gelion will
develop Lithium-Sulfur cathodes that are compatible with a range of
anode technologies, including graphitic and silicon, which will be
expediated by this acquisition.
Gelion's Performance Additives division is developing sulfur
cathodes which, when paired with existing silicon anode
technologies, improves overall Lithium-ion battery safety, energy
density and cost, which are key drivers in establishing the
competitive differentiation for many upstream products. This
presents a compelling commercial proposition for a range of markets
including electric vehicles, e-aviation and drones. The combination
of this substantial IP portfolio with Gelion's Lithium Sulfur and
LiSiS development program supports Gelion's progress and gives the
Company freedom to operate with a protective moat around the
solutions it intends to develop. In particular, this acquisition
gives the Company the opportunity to significantly advance its
efforts to achieve this higher gravimetric energy density while
reducing cost without using rare and expensive metals and
increasing safety.
Lithium Sulfur is expected to be the next generation battery
technology due to its significantly high energy densities than
Lithium-ion technology, and the absence of transition metals [1] .
This IP portfolio provides a unique opportunity for Gelion to
position its research effort at the forefront of the battery
market. Gelion will progress through the Technical Readiness Level
(TRL) stages to establish paths to scaled production.
The acquired portfolio is complementary to Gelion's own IP
providing Sulfur management solutions. It will give Gelion a
strategic advantage in this competitive space. The acquisition of
one of the largest portfolios in the Lithium Sulfur space
significantly strengthens Gelion's overall offering in the LiSiS
market, enhances the Group's existing IP portfolio and assists in
achieving the Group's aim of creating a sustainable future through
next-generation energy storage solutions.
CONTACTS
Gelion plc via Alma PR
John Wood, CEO
Amit Gupta, CFO
Thomas Maschmeyer, Founder and Principal
Technology Advisor
finnCap Ltd (Nominated Adviser and Sole
Broker) +44 207 220 0500
Corporate Finance
Christopher Raggett
Seamus Fricker
Fergus Sullivan
ECM
Barney Hayward
Alma PR (Financial PR Adviser) +44 20 3405 0205
Justine James gelion@almapr.co.uk
Hannah Campbell
Will Ellis Hancock
About Gelion plc
Gelion ("gel: ion") is a global renewable-energy storage
innovator who supports the transition to a sustainable economy
while delivering value for its customers and investors by designing
and manufacturing the outstanding zinc-bromide batteries for
stationary energy storage and additives for mobile battery
applications.
Performance Additives - Tomorrow's transport systems will rely
on mobile renewable energy. Gelion is developing performance
additives with the aim of improving the safety, longevity and
energy density of lithium-based batteries for mobile applications.
Using nanotechnology, Gelion's Lithium-Silicon-Sulfur additives
will help power the EV and e-aviation markets.
Stationary storage - Gelion Zinc Bromide battery: the
sustainable energy storage solution.
Gelion has developed patented technology for a breakthrough
zinc-bromide battery to support the transition to a carbon neutral
economy by 2050. The technology is being developed with the goal of
establishing Gelion Zinc Bromide as a logical participant in the
ecosystem of suppliers, manufacturers and customers surrounding
lead acid technology.
Gelion's zinc-bromide gel battery uses non-flow technology,
which is scalable, can deliver 100% depth of discharge and has
potential for higher temperature tolerance and longer duration
discharge than lead-acid batteries.
Gelion was spun-out from the University of Sydney in 2015 by
Professor Thomas Maschmeyer, Fellow of the Australian Academy of
Science and recipient of the Australian Prime Minister's Prize for
Innovation 2020, that country's highest honour for scientific
entrepreneurship.
The Company's ESG credentials are strongly aligned to six of the
UN's 17 Sustainable Development Goals.
Gelion's shares are listed on the AIM market of the London Stock
Exchange and it received the Green Economy Mark at IPO in November
2021 recognising its commitment to energy transition.
[1]
https://www.sciencedirect.com/topics/engineering/lithium-sulfur-batteries
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