Gelion float on AIM qualify for London Stock Exchange's Green Economy Mark
Gelion plc is a UK-Australian energy-storage innovator founded in 2015 by Professor Thomas Maschmeyer as a spin-out from the University of Sydney, Australia’s first university.
Operating primarily out of Australia, the Company was established to commercialise Professor Maschmeyer’s discovery of a battery cell that controls the electrochemistry of zinc-bromide reactions without the need for a flowing electrolyte. This has allowed Gelion to produce its “Endure” battery, which is ideally suited for off-grid and grid connected storage of renewable energy across a range of industries. The Endure battery is protected by patents and patent applications in all core jurisdictions in which Gelion seeks to operate.
The Endure zinc-bromide battery is designed to provide a safe, cost-effective, long-life and recyclable alternative to lithium-ion and lead-acid (PbA) battery technologies for stationary storage of renewable energy. Gelion’s battery can be manufactured using brownfield lead-acid battery production facilities, keeping capital costs very low when compared to other technologies for stationary energy.
The battery technology is highly resistant to fire, even under extreme, deliberate fault scenarios, and can be completely discharged with no loss of function, or damage to the battery. Unlike lithium-ion and PbA batteries the Endure batteries are highly tolerant to temperature extremes, making them well suited for operation without need for expensive air-conditioning systems. The technology is also scalable, which makes the batteries ideal for commercial use and for electricity grid stabilisation.
Admission to Trading on AIM
On 30th November 2021, admission and dealings on AIM commenced by way of a Placing and Subscription of 11,063,679 new Ordinary Shares and sale of 2,068,966 Sale Shares at 145 pence per share.
The Perivan shareholder communications team were delighted to work with finnCap Capital Markets who were appointed as Nominated Adviser and Broker to Gelion, on the successful publication of the 146-page admission document.
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