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(Alliance News) - Gelion PLC on Wednesday announced it signed a joint development agreement with an entity belonging to Glencore PLC.
The Anglo-Australian battery innovator said the agreement aims to accelerate the commercialisation of next-generation of battery technologies by leveraging Glencore International AG's expertise in battery metal and recycling with Gelion's intellectual property and battery technology expertise.
Gelion shares were up 57% to 29.02 pence each in London on Wednesday morning.
Gelion Chief Executive Officer John Wood said: "The objective is to combine the strength of Glencore's operational application knowledge and raw materials supply with Gelion's next-generation battery technology innovation understanding to investigate the match of performance to mining applications.
"We are also excited to explore any potential synergies with Glencore in the field of lithium-ion battery recycling by leveraging the IP recycling patent portfolio Gelion acquired from Johnson Matthey in 2023."
Together, the two firms will also assess the suitability of Gelion's technology for use in Glencore's stationary and mobile applications, and if feasible, initiate a pilot testing programme.
Within the agreement, there is scope for future commercial arrangements including Gelion supplying Glencore with batteries on preferential terms, cooperating to recycle, and Glencore providing input materials.
By Elijah Dale, Alliance News reporter
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