Slide 1: H1 2023 Results Presentation
H1 2023 Results Presentation Interim Results ending 31st December 2022 March 2023 CONFIDENTIAL GELION 2023 1
Slide 2: Disclaimer
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 Company. This Presentation
Slide 3: Contents
1. Presentation team 2. Operational & financial highlights 3. Our business Contents 4. Our technologies 5. Financial results 6. Summary and outlook CONFIDENTIAL GELION 2023 3
Slide 4: Presentation Team
Presentation Team John Wood Amit Gupta Thomas Maschmeyer CEO & Executive Director CFO & Executive Director Non-Executive Director, Founder & Principal Technology Advisor CONFIDENTIAL GELION 2023 4
Slide 5: Operational and Financial Highlights
Operational and Financial Highlights 1,200 ZnBr2 cells manufactured for Updated ZnBr2 match to market Gelion's half-cell sulfur cathode technology internal battery system testing and completed, faster discharge has reached over 300 usage cycles at less than Acciona Project applications development f
Slide 6: Our Business
Our Business CONFIDENTIAL GELION 2023 6
Slide 7: Gelion's target battery markets
Gelion’s target battery markets Lead-Acid (PbA) batteries Lithium-ion batteries ~$49B ~$110B Market Growth at a steady Market Growth will ACCELERATE at increase ~2% CAGR ~46% CAGR 490GWh (2030) 1.3TWh (2030) 1.6v cells LiSiS battery schematic Source: AVICENNE Energy, BOI Information (Confidential) C
Slide 8: Our Technologies
Our Technologies CONFIDENTIAL GELION 2023 8
Slide 9: Gelion ZnBr2 batteries
Gelion ZnBr2 batteries Gelion modules Gelion cells Battery management system CONFIDENTIAL GELION 2023 9
Slide 10: Cell manufacturing and Acciona Energia Project
Cell manufacturing and Acciona Energia Project • Manufactured 1200 ZnBr2 cells for internal test program and Acciona Project deployment • Single string 2kWh system tested to specification Testing power electronics Battery Management System • Upgraded Battery Management System (BMS) hardware complete
Slide 11: Zinc bromide battery testing
Zinc bromide battery testing Testing insights from Gelion’s pilot battery manufacturing program • Novel ZnBr2 fast discharge mode, minimal capacity fade advantage over lead acid technologies to be rigorously tested and verified. • Dendrite management and prevention to be optimised for ad hoc cycling
Slide 12: Match to Market Update
Match to Market Update Target applications Gelion zinc bromide UPS Data Centre Telecom (US$2.9B Market) (US$3.3B Market) • Zinc bromide batteries to provide a competitive alternative to lead-acid batteries, solving key limitations of their performance in specific applications. ESS and other Motive •
Slide 13: 2023 Outlook – Zinc bromide
2023 Outlook – Zinc bromide R&D to address performance In-house and Preparation for enhancement needs identified from in-field battery system battery testing and testing, early manufacturing and test programs certification process match to market CONFIDENTIAL GELION 2023 13 13
Slide 14: Lithium Silicon Sulfur (LiSiS) Strategic Acquisition
Lithium Silicon Sulfur (LiSiS) Strategic Acquisition: World’s leading Lithium Sulfur IP Portfolio CONFIDENTIAL GELION 2023 14
Slide 15: Lithium-ion battery markets and Gelion LiSiS
Lithium-ion battery Gelion LiSiS markets • Gelion is at the global forefront of advanced LiS cathode and LiSiS Consumer electronics Electric vehicles Stationary (EV) e-aviation battery development • Gelion’s LiSiS IP portfolio is world leading ~$110B • Improve EV range performance, Market Growth wil
Slide 16: Gelion LiSiS: Solving the technology challenges
Gelion LiSiS: Solving the technology challenges Gelion’s sulfur cathode technology has now reached more than 300 cycles with less than 20% capacity fade in half-cells. This result proves the viability of Gelion's additives. Gelion is progressing rapidly with electrolyte development and strategic par
Slide 17: Gelion LiSiS advantages
Gelion LiSiS advantages Significant improvement in battery energy density, cost and safety Double the energy density Cost savings 43%2 Gelion’s LiSiS is targeting double the Gelion estimate LiSiS can achieve 43%2 cost gravimetric energy density of current li- reduction relative to a lithium-ion NMC1
Slide 18: Solving the LiSiS battery puzzle
Solving the LiSiS battery puzzle World leading LiSiS IP Patent portfolio Gelion’s newly acquired IP portfolio (82 patent families) from Johnson Matthey & University of Sydney will accelerate this journey. Gelion’s competitive IP moat is extended and secured Electrolyte engineering Polysulfide shuttl
Slide 19: Supercharge Australia Innovation Challenge
Supercharge Australia Innovation Challenge Gelion selected by New Energy Nexus (US) and EnergyLab’s (Australia) Supercharge program as a high impact next generation technology to accelerate the build out of the lithium battery ecosystem. Danny Kennedy, Chief Energy Officer New Energy Nexus commented
Slide 20: Financial Results
Financial Results CONFIDENTIAL GELION 2023 20
Slide 21: H1 FY23 results
H1 FY23 results Financial Performance £m H1 FY23 H1 FY22 Key highlights Total income - - • H1 FY23 Adjusted EBITDA loss in line with expectations • Increase in administrative expenses reflecting Administrative expenses (2.1) (1.1) the additional costs of being a public company including additional h
Slide 22: Strong balance sheet: Significant cash position & nil debt
Strong balance sheet: Significant cash position & nil debt Balance sheet £m 31-Dec-22 30-Jun-22 Key highlights • Cash and cash equivalents (incl. term deposits) of Cash and cash equivalents 14.4 17.0 £14.4m. Net decrease in cash from June 2022 (incl. term deposits) reflecting funds used in operation
Slide 23: Substantial cash available to fund development activities
Substantial cash available to fund development activities Cashflow (£m) Key highlights • £2.1m used to fund the operations of the business • £5.6m of cash outflows from investing activities (£2.1m) (£5.6m) include £5.2m of short-term investments (term Cash from Cash from investing activities deposit
Slide 24: Conclusion
Conclusion CONFIDENTIAL GELION 2023 24
Slide 25: Summary and outlook
Summary and outlook 2023 2024 • Progress technology readiness development, pathway • Preparation for advanced in-field ZnBr2 battery testing and for both technologies certification process • Leverage novel ZnBr2 advantages focusing • Progress LiSiS match to market, with industry partners development
Slide 26: Q&A
Q&A CONFIDENTIAL GELION 2023 26
Slide 27: Thank you
Thank you INFO@GELION.COM GELION.COM
Slide 28: Appendix
Appendix INFO@GELION.COM GELION.COM
Slide 29: Lithium Silicon Sulfur Battery
Lithium Silicon Sulfur Battery Building the world’s best battery March 2023 CONFIDENTIAL GELION 2023 Joby Aviation (pictured). VTOL is a targeted application for Gelion batteries
Slide 30: Purpose, Mission, Impact & value
Purpose Advance energy storage to achieve Global Energy Freedom Mission To deliver 2 X gravimetric energy density, higher safety and lower cost lithium batteries, 4-5 years earlier than alternate pathways. Impact & value • We believe this is of significant geopolitical economic competitiveness and s
Slide 31: An exceptional team
An Theexceptional right team team Non-Executive Director, John Wood, CEO and Gelion team Founder & Principal Technology Advisor CONF C O N FIIDENT D E N TI AL I A L GE G ELILON I O N2 20 2 0 32 2
Slide 32: Market applications of next-generation batteries
Market applications of next-generation batteries Higher energy density batteries will power electric vehicles further. Gelion’s market opportunity • Targeting the high gravimetric energy density mobility markets. • Initially targeting Defence and Industrial drones and e- Drones Trucks aviation. • Mo
Slide 33: Two key technology challenges to solve
Two key technology challenges to solve The next generation of high energy density lithium based batteries, Lithium Silicon Sulfur (LiSiS) need to solve two key technology challenges :- 1. Polysulfide shuttle which corrodes the anode, preventing lithium sulfur batteries from lasting more than 50-100
Slide 34: 1. Gelion polysulfide management
1. Gelion polysulfide management A proprietary cathode formulation paired with a novel electrolyte allows for effective polysulfide management leading to longer cycle life Novel liquid electrolyte Gelion’s effective polysulfide Typical sulfur cathode challenges: Gelion’s sulfur containment cathode s
Slide 35: Gelion LiSiS: Solving the technology challenges
Gelion LiSiS: Solving the technology challenges Gelion’s sulfur cathode technology has now reached more than 300 cycles with less than 20% capacity fade in half-cells. This result proves the viability of Gelion's additives. Gelion is progressing rapidly with electrolyte development and strategic par
Slide 36: 2. Electrolyte compatibility
2. Electrolyte compatibility Novel electrolyte Carbonate Lithium-ion electrolyte Sulfur cathode NMC cathode Graphite/silicon based anode Graphite/silicon based anode Development of a novel electrolyte The problem with Carbonate current sulfur electrolyte cathodes • Sulfur is not compatible with exis
Slide 37: Gelion LiSiS advantages
Gelion LiSiS advantages Significant improvement in battery energy density, cost and safety 1,2 Double the energy density Cost savings 43% Gelion’s LiSiS is targeting double the Gelion estimate LiSiS can achieve 43%1,2 gravimetric energy density of current li- cost reduction relative to a lithium-ion
Slide 38: Double the energy density
Double the energy density 800 700 Energy density (Wh/kg) By enabling advanced sulfur cathodes 600 with silicon based anodes, Gelion is 500 NMC: developing safe, high to ultra-high 400 nickel manganese energy density batteries. 300 cobalt oxide 200 100 0 Li-Ion Li-ion Li-Ion Li-Ion Li-ion Li-ion Grap
Slide 39: LiSiS cost savings
LiSiS cost savings Replacing expensive NMC, replacing cathode, significantly reducing costs Li-NMC battery | LiSiS battery Cathode (sulfur) Cathode (NMC) Manufacturing + pre- $25 lithiation $18 Manufacturing $33 Anode (silicon) $17 Anode $5 Separator (graphite) $5 Separator $8 Electrolyte $6 Electro
Slide 40: Abundant sulfur supply
Abundant sulfur supply Replacing rare expensive metals reduces cathode cost. Total global sulfur production 80 MT p.a. Just 1% is enough to replace Global sulfur supply chain all battery cathodes Replacement with sulfur, the 5th most abundant Removal of cobalt from the NMC cathode reduces reliance e
Slide 41: Solving the LiSiS battery puzzle
Solving the LiSiS battery puzzle World leading LiSiS IP Patent portfolio Gelion’s newly acquired IP portfolio (82 patent families) from Johnson Matthey will help to accelerate this journey. Gelion’s competitive IP moat is extended and Electrolyte engineering secured Polysulfide shuttling Solid state
Slide 42: Summary & next steps
Summary & next steps Summary • Right team: Gelion has the right team, to be further expanded to accelerate LiSiS commercialisation • World’s leading IP portfolio (82 patent families) in Lithium-Silicon-Sulfur secured from Johnson Matthey • Multi-anode scope including lithium metal, graphitic and sil
Slide 43: Thank you.
Thank you. INFO@GELION.COM GELION.COM CONFIDENTIAL GELION 2023