finnCap Capital Markets is delighted to advise Gelion PLC on its admission to AIM and £22m Placing. Following this IPO, Gelion, which has developed a revolutionary battery technology for the stationary storage of renewable energy, will begin trading at a market cap of £154.4m.
Founded by Professor Thomas Maschmeyer, one of the world's leading chemists and recipient of the Australian Prime Minister's Prize for Innovation 2020, Gelion was spun out of Sydney University in 2015.
Gelion is the innovator behind a zinc-bromide battery technology, which provides a safe, cost-effective, long-life and recyclable alternative to lithium-ion and lead-acid technologies for storage of renewable energy. These batteries are able to withstand higher temperatures and are tougher and more efficient than their lead acid and lithium ion counterparts, and are easier to recycle.
With applications in agriculture, mining, water management and irrigation the battery is highly adaptable for off-grid use.
The batteries are also 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. The company has signed memoranda of understanding for three projects totalling a capacity of 400 megawatt-hours.
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.
Andrew Grimes, CEO, Gelion, commented: "Gelion's highly successful IPO was thanks in no small part to the efforts of its Nomad and broker finnCap who introduced us to many blue chip funds and supported all aspects of the listing process with the utmost professionalism."
Christopher Raggett, Co-Head of Corporate Finance, finnCap Capital Markets, commented: “We are very proud to bring Gelion to the London capital markets and assist with the next stage of their growth journey. They have a truly outstanding technology which has the potential to be at the forefront of the energy storage requirements of the future. We look forward to working with the team as they commercialise and grow.”