TIDMGELN
RNS Number : 2337A
Gelion PLC
01 February 2022
1 February 2022
Gelion plc
("Gelion" or the "Company")
Acciona Energía to trial Endure batteries at solar plant in
Europe
Gelion (AIM: GELN), the Anglo-Australian battery storage
innovator, is pleased to announce that the Company has signed a
test and supply contract with European renewables company Acciona
Energía to trial Gelion's Endure zinc-bromide battery technology at
Acciona Energía's Montes del Cierzo photovoltaic solar plant in
Navarra, northern Spain (the "Plant").
HIGHLIGHTS
-- As stated In the Admission Document published by Gelion on 24
November 2021, the Company was selected to test and trial its
batteries by a "leading global renewable energy company
headquartered in Europe" following a competitive process launched
in September 2020.
-- Gelion has now signed a test and supply contract with Acciona
Energía to integrate its Endure battery technology into the Plant
for a six- to 12-month period starting Q3 2022.
-- If this trial integration is successful, the Endure battery
is expected to form part of Acciona Energía's supplier portfolio as
a renewable energy storage provider.
-- Acciona Energía is one of Europe's largest sustainable energy
companies with global revenues of the Acciona Group in excess of
EUR6 billion in 2020.
Andrew Grimes, CEO of Gelion, commented "This is a strong show
of confidence in our robust energy storage technology. We are
pleased to have been selected by Acciona Energía to trial our
batteries in-field at its experimental renewable energy facilities.
This is particularly pleasing coming so soon after our successful
admission to trading on AIM, which has given us the funds and
platform to accelerate our growth."
María Ángeles Medrano , Acciona's Energía's Research Manager,
said: "At Acciona Energía's Innovation Department, we seek
convergence between the best storage solutions and the most
innovative technologies, allowing us to improve the operation of
renewable generation and offer the best grid services."
INVESTOR PRESENTATION
Gelion will provide a live presentation via the Investor Meet
Company platform on 2 February at 10.00 am GMT. The presentation is
open to all existing and potential shareholders.
Investors can sign up to Investor Meet Company for free and add
to meet Gelion via:
https://www.investormeetcompany.com/gelion-plc/register-investor
Investors who already follow Gelion on the Investor Meet Company
platform will automatically be invited.
BACKGROUND
In September 2020, Acciona Energía launched the I'MNOVATION
programme to discover emerging and innovative solutions in energy
storage through collaboration with growing businesses worldwide.
Ten emerging energy storage companies participated in the programme
with four selected to proceed to the trial, including Gelion, as
disclosed in the Company's Admission Document.
Further to its initial selection, Gelion has now signed a formal
test and supply contract with Acciona Energía. This contract sets
out the parameters upon which the Endure battery will be tested at
the Plant over three stages of verification: technical
verification; integration; and real operating conditions
testing.
This testing will take place at the Plant over six to 12 months
starting with installation in Q3 2022.
Successful testing will be determined upon the completion of
pre-defined battery test performance criteria.
In the event of success, Gelion expects that Endure will form
part of Acciona Energía's supplier portfolio as a renewable energy
storage provider
ACCIONA ENERGíA
Acciona Energía is one of Europe's largest sustainable
technology companies with a market capitalisation of more than EUR9
billion and renewable energy and sustainable technology projects on
every populated continent.
Acciona Energía is the world's largest 100% clean-energy
operator, with 11,188MW installed in leading renewable
technologies.
The company has power generation assets based on renewable
sources, which as of 30 June 2021, amounted to 11,188 MW: 78% of
these are from wind power, 13% photovoltaic, 8% hydroelectric and
the rest correspond to facilities in biomass and solar thermal
energy plants.
51% of the capacity in which it has a stake is in Spain, while
the rest is distributed throughout 15 countries: Australia, United
States, Canada, Mexico, Costa Rica, Chile, Portugal, Italy,
Hungary, Poland, Croatia, Ukraine, India, South Africa and
Egypt.
For more information visit acciona.com .
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN
ARTICLE 7 OF THE MARKET ABUSE REGULATION EU NO. 596/2014, AS
RETAINED AND APPLICABLE IN THE UK PURSUANT TO S3 OF THE EUROPEAN
UNION (WITHDRAWAL) ACT 2018 (AS AMENDED). UPON THE PUBLICATION OF
THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE
IN THE PUBLIC DOMAIN.
CONTACTS
Gelion plc via Tavistock
Andrew Grimes, Chief Executive Officer
Thomas Maschmeyer, Founder and Principal
Technology Advisor
Marcus Strom, Corporate Communications
finnCap Ltd (Nominated Adviser and Sole
Broker) +44 207 220 0500
Christopher Raggett
Seamus Fricker
Barney Hayward
Tavistock (Financial PR Adviser) +44 207 920 3150
Simon Hudson gelion@tavistock.co.uk
Nick Elwes
Rebecca Hislaire
Notes to editors
Gelion (AIM: GELN) is a publicly listed company on the London
Stock Exchange AIM market. It was founded as a spin-out from the
University of Sydney in 2015 by Professor Thomas Maschmeyer, one of
the world's leading chemists who was awarded the Australian Prime
Minister's Prize for Innovation 2020.
Gelion is a global renewable-energy storage innovator. By
designing leading-edge battery technology for stationary and mobile
energy, the Company supports the transition to a sustainable
economy while delivering value for customers and investors.
-- The Gelion Endure battery uses low-cost, abundant raw
materials and is based on a chemistry that is highly resistant to
fire.
-- The batteries are scalable, using lead-acid battery
manufacturing technology, and the Company expects to develop
megawatt-hour capacity for large-scale infrastructure, including
for solar and wind farms.
-- With applications in agriculture, mining, water management
and irrigation the battery is highly adaptable for off-grid
use.
In addition to investing in the growth of its zinc-bromide
technology, the Company will use funding to develop its mobile
energy division to enhance existing lithium-ion and lithium-sulfur
battery technologies used in electric vehicles and the emerging
market in electric aviation.
For the mobile market, Gelion's technology pipeline
includes:
-- Highly tuneable, low-cost silicon nanoparticle additives for
next-generation advanced lithium-ion batteries, which are safer and
have higher energy density.
-- A low-cost additive, which increases the lifetime of
lithium-sulfur batteries by more than four times, delivering up to
three times higher energy by weight than conventional lithium-ion
batteries.
Using additive technology developed by its R&D team, which
cooperates closely with scientists at the School of Chemistry and
the University of Sydney Nano Institute, Gelion will develop and
license additives for advanced lithium-silicon and lithium-sulfur
technologies for ultra-high-density batteries to extend the
cycle-life and safety of mobile energy storage.
Gelion also recently announced a partnership with Battery Energy
Power Solutions in Sydney to manufacture and distribute its
zinc-bromide batteries for the Australian market.
Gelion qualified for the LSE Green Economy Mark which recognises
London-listed companies and funds that derive more than 50% of
their revenues from products and services that are contributing the
environmental objectives such as climate change mitigation and
adaptation, waste and pollution reduction, and the circular
economy.
To find out more, please visit: www.gelion.com .
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCBKDBKNBKBBDN
(END) Dow Jones Newswires
February 01, 2022 01:59 ET (06:59 GMT)
Gelion (LSE:GELN)
Historical Stock Chart
From Apr 2024 to May 2024
Gelion (LSE:GELN)
Historical Stock Chart
From May 2023 to May 2024