Gelion Plc · LSE:GELN
Gelion — FY2025 Earnings Presentation
27 slides from Gelion's earnings presentation, Nov 27, 2025
Slide 1: Gelion – The Sulfur Battery Company
Gelion – The Sulfur Battery Company FY 2025 Results Presentation | November 2025
Slide 2: Important Information And Disclaimer
Important Information And Disclaimer The information contained in this document (“Presentation”) has been prepared by Gelion plc (the “Company”) solely for information purposes and does not purport to be comprehensive or contain all the information that may be required by recipients to evaluate the
Slide 3: Presentation Team
Presentation Team John Wood Amit Gupta John Wood Amit Gupta Dr Louis Adriaenssens Chief Executive Officer Chief Financial Officer Chief Technology Officer John is an experienced and successful CEO Amit is a Chartered Accountant with more than Louis has 20 years of experience in synthesis, of private
Slide 4: Agenda
Agenda • Corporate Update JW (CEO) • FY25 Annual Results AG (CFO) • Products and Technology LA (CTO) • The Commercial Opportunity JW (CEO) • Summary and Outlook JW (CEO) CONFIDENTIAL GELION 2025 4
Slide 5: Gelion – Corporate Update
Gelion – Corporate Update FY 2025 Results Presentation | November 2025
Slide 6: Global engagement derisking technological pathway
Global engagement derisking technological pathway Demonstration project with Strategic collaboration Collaboration with QinetiQ and solid-state TDK Corporation prototyping facility Australian Government £2.3m Commencement of the Engagement grant for Advanced Commercial commenced with US1 Prototyping
Slide 7: Single Change – “Drop-in” Sulfur Cathode Active Material (“CAM”)
Single Change – “Drop-in” Sulfur Cathode Active Material (“CAM”) Replacing expensive toxic materials such as Nickel & Cobalt The market for cathode materials1 is expected to triple, from $44bn in 2025 to $132bn by 2032 Gelion Sulfur CAM Gelion Sulfur Cathode Gelion Sulfur Cathode will be a “drop-in”
Slide 8: Requirements for a Compelling Commercial Product
Requirements for a Compelling Commercial Product The nano- High Power in confinement Material made from High Sulfur % is Charge and separates the Sulfur low-cost precursors "nano-confined" Discharge Low Cost Stable High Energy from theCycle Long electrolyte. Life using a practical by a self- forming
Slide 9: Li-metal C/S CAM
LITHIUM METAL GRAPHITIC / SILICON ROOM TEMPERATURE SODIUM LITHIUM SULFUR SULFUR C/S Li2S Hard Na2S Li-metal Graphitic CAM CAM Carbon CAM Electrolyte/Separator Electrolyte/Separator Electrolyte/Separator A HIGH-PERFORMANCE CELL FOR LAUNCH SULFUR AS A “DROP – LAUNCH THE CELL THAT WILL DEFENCE AND SPEC
Slide 10: Collaboration Agreements Executed with TDK Corporation
Collaboration Agreements Executed with TDK Corporation • Materials Testing Agreement signed in April 2025 which has now progressed to a full Collaboration Agreement • Technology has been validated by TDK, one of the largest global battery manufacturer • Collaboration to transition to commercial prot
Slide 11: Partnering with Industry Experts to Accelerate Commercialisation
Partnering with Industry Experts to Accelerate Commercialisation Prototyping project commenced to validate performance and achieve product market fit Collaboration Agreement with TDK (Partner) Highlights Highlights • Multi-year collaboration agreement • QinetiQ (LON:QQ, £2.9b market cap*) • Does not
Slide 12: Unique IP | >200 Patents Across Sulfur Battery Value Chain
Unique IP | >200 Patents Across Sulfur Battery Value Chain Anode 21 44 Cathode Battery Management 21 System >200 Patents* 46 56 142 granted Sulfur cathode + electrolyte 2 allowed applications 31 (Patents cover conductivity, catalytics and polysulfide sequestering) 69 pending Electrolyte 69 IP that e
Slide 13: Gelion – FY25 Annual Results
Gelion – FY25 Annual Results FY 2025 Results Presentation | November 2025
Slide 14: Integration Solutions
Integration Solutions First customer site operational, strong reference site for future sales Key activities ▪ Borg 2 x 2MWh BESS successfully installed ▪ £910k first revenue recognised in FY25, strong reference site for future sales ▪ Growing list of industry partners, EPC’s leading to additional p
Slide 15: Financial Overview – Continued improvement of financial metrics
Financial Overview – Continued improvement of financial metrics Financial Performance Summary Key Highlights FY24 FY25 £m Audited Audited • Total income growth of 36.4% to £2.7m on PCP primarily Product revenue - 0.9 due to first revenue from Integration Solutions. Other income 2.0 1.8 • Lower other
Slide 16: Snapshot of financial progress
Snapshot of financial progress Total Income Operating Expenditure* Adjusted EBITDA Loss** Underlying Net Cash Use** 6,512 5,934 912 5,572 3,841 4,820 4,602 3,322 4,094 £000 £000 2,872 £000 £000 2,054 1,988 1,799 4,147 3,486 3,262 FY23 FY24 FY25 FY23 FY24 FY25 FY23 FY24 FY25 FY23 FY24 FY25 Actual Act
Slide 17: Oversubscribed November 2025 Capital Raise
Oversubscribed November 2025 Capital Raise Cap raise • Successful completion of an oversubscribed round raising gross proceeds of £10.5 million • Strong participation from both existing and new investors (institutional and retail) • Inclusion of new large UK based institutional funds Use of proceeds
Slide 18: Gelion – Product & Technology
Gelion – Product & Technology FY 2025 Results Presentation | November 2025
Slide 19: Sulfur is the Only Geographically Agnostic Battery Cathode Material
Sulfur is the Only Geographically Agnostic Battery Cathode Material Global Distribution Cost EU/US/AUS Abundance High Ni China (60%) RoW US, EU £15 / kg1 168 GWh US, EU LFP China (95%) £3.2 / kg1 25 GWh . £1.75 /$0.3/kg kg2 Sulfur China RoW US, EU, AU 53,000 GWh (CAM cost) 1 Intercalation Station Ba
Slide 20: The Gelion Sulfur Cathode-Active-Material (C/S CAM)
The Gelion Sulfur Cathode-Active-Material (C/S CAM) Nanoconfined Sulfur1 SEM image2 - Gelion’s C/S CAM Specific Discharge Capacity (mAh / g(S)) 1C 2C 5C 5C 8C Durations = time for full charge or discharge 1C = 1 hour 2C = 30 mins 5C = 12 mins 8C = 7.5 mins 0 200 μm 0 20 40 60 80 100 Cycle Nanoconfin
Slide 21: C/S CAM Li-metal
A HIGH-PERFORMANCE CELL FOR LAUNCH SULFUR AS A “DROP – LAUNCH THE CELL THAT WILL DEFENCE AND SPECIALIST IN” SCALED CATHODE MATERIAL SUPPORT GLOBAL ENERGY APPLICATIONS ALONGSIDE NMC1 & LFP INDEPENDENCE C/S Li2S Hard Na2S Li-metal Graphitic CAM CAM Carbon CAM Electrolyte/Separator Electrolyte/Separato
Slide 22: Commercial Opportunity
Commercial Opportunity FY 2025 Results Presentation | November 2025
Slide 23: Global engagement derisking technological pathway
Global engagement derisking technological pathway Demonstration project with Strategic collaboration Collaboration with QinetiQ and solid-state TDK Corporation prototyping facility Australian Government £2.3m Commencement of the Engagement grant for Advanced Commercial commenced with US1 Prototyping
Slide 24: Anticipated Value Inflection Points
Anticipated Value Inflection Points 2025 2026 2027 and beyond Collaboration with TDK Corporation Scale up Production Commercial Prototype Pouch Commercial Sales / Licencing Tech Breakthrough Validation Cells & Material fabrication Revenue Collaboration CONFIDENTIAL GELION 2025 24
Slide 25: Peer Group Battery Technology Companies
Peer Group Battery Technology Companies Cathode Technologies Anode Technologies Sila Amprius Group14 Lyten Nanotechnologies Technologies Technologies Lithium-sulfur, Sodium- Lithium–sulfur, 3D graphene, Technology Focus Silicon anode Silicon anode Silicon anode sulfur sensors, composites Location US
Slide 26: Summary and Outlook
Summary and Outlook De-Risked Path to Market Leadership • Exceptional technology; large addressable market • Financial discipline – first revenue recognised and reducing expenses • Backing from the UK and Australian government • Transitioning to commercial pouch cell prototype production with partne
Slide 27: Gelion – The Sulfur Battery Company
Gelion – The Sulfur Battery Company FY 2025 Results Presentation | November 2025