Australian battery innovator raises $A20m to help commercialise its “remarkable” lithium-sulfur tech

Australia-originated and UK-listed energy storage innovator Gelion has raised more than £10 million ($A20.5 million) from existing and new shareholders, to help commercialise the company’s “remarkable” sulfur battery technologies.”

Gelion, originally spun out of the University of Sydney, last week raised an aggregate of £10 million through the issue of 50,000,000 new shares, followed by an as-yet undisclosed amount from a separate retail offer that was closed early on Monday due to a high level of demand.

The fundraising follows the news that Gelion has been awarded two patents in the US, boosting the company’s efforts to “build a defensible moat around its unique approach to next-generation sulfur technology.”

Last week, the company also sealed a deal with an as-yet unnamed “Tier-One” battery manufacturer, described as a global outfit with more than 100,000 employees and major manufacturing facilities across Asia, Europe, and the Americas, serving industries such as automotive, industrial, and consumer technology.

Gelion says some of the proceeds of the fundraising will be used to meet the terms of the new deal with the manufacturing partner, including to achieve commercial pouch cell prototypes and “progress towards product market fit.”

“Gelion is very grateful for the support being extended to our business by our existing and new investors,” said Gelion CEO John Wood.

“We have established a very strong position in the world of battery technology innovation through the efforts of the Gelion team and under the stewardship of our board. 

“The funding entrusted to us gives our Company the opportunity to convert that position to commercial success through applied development and collaboration across the full supply chain. 

“Our plan is to move quickly, following a capital light path where we concentrate focus on our core areas of unique important differentiation and to work with partners to continue to deliver breakthrough collaboration and global industry leadership for Gelion’s remarkable Sulfur Battery technologies.”

Wood took the helm at Gelion in late 2022, to lead the then Australia-based company’s push into the booming global battery market.

Gelion’s non-flow zinc-bromide battery storage technology technology uses an electrolytic gel that is inherently fire retardant, which means it can operate at temperatures up to 50°C without the need for air-conditioning systems.

The batteries also can be discharged to zero volts without affecting performance, are more energy dense and last longer than traditional lead-acid batteries, and offer a safe and recyclable alternative to lithium-ion batteries.

In March 2023, the company put itself in contention to build “the world’s best battery” after buying up an intellectual property portfolio of more than 450 Lithium Sulfur and Silicon Anode patents.

After throwing its weight behind the Albanese government’s plans for a National Battery Strategy, however, the company has shifted its headquarters to London and listed on the AIM stock exchange.

Back home, Gelion was awarded a grant from the Australian Renewable Energy Agency in December 2024, to help underwrite the production and optimisation of its GEN 3 Lithium Sulfur (Li-S) and Silicon Sulfur (Si-S) battery technologies.

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