Strong Progress at Battery Minerals

Gelion (AIM: GELN), the Anglo-Australian battery innovator, is pleased to report continued strong progress at its wholly owned subsidiary, Battery Minerals Ltd ("Battery Minerals"), as it advances the development of the novel lithium-ion (Li-ion) battery recycling technology. This proprietary technology is based on a process originally developed at Johnson Matthey and builds on the patent and technology package acquired by Gelion in March 2023.

With the global battery recycling market projected to reach $30-40 billion by 2030, Battery Minerals is strategically positioned to address the dual challenges of battery waste and critical mineral supply security.

Following the successful completion of Phase 1 of the Battery Recycling Accelerator Programme and the subsequent award of Phase 2 grant and booster funding through the Advanced Propulsion Centre (APC), as announced in March 2025, Battery Minerals has made significant progress under the leadership of Jacob Carpenter in establishing its operational and technical foundations:

• Key team appointments - Reuniting the original inventor with the technology Dr Koen Vandaele, appointed as Principal Scientist. Koen is an original inventor of the core lithium extraction patents and formerly served as a Technical Lead at Johnson Matthey. Dr Yiana Shakespeare also joins as Research Scientist, having previously worked on the recycling technology programme at Johnson Matthey who brings strategic experience from his time as a Senior Strategy Consultant - Energy and Natural Resources at KPMG.
• Commissioning of the testing facility Battery Minerals' dedicated testing facility has been commissioned at the Innovation and Translation Hub, part of the Imperial College White City campus in London. The facility is now equipped to test customer samples, optimise process parameters, and leverage external providers to conduct advanced analytics, establishing a platform for accelerated development.
• Validation of key data The team is validating key data received as part of the technology acquisition from Johnson Matthey.
• Black mass testing Samples of black mass (granular material left behind after lithium batteries are shredded) are currently being provided from multiple partners with additional partnerships under active discussion. Sample testing of the black mass has begun and are being tested using Battery Minerals' technology to assess the amount of lithium that can be recovered.

Strengthened Intellectual Property portfolio

Gelion's IP position has been strengthened with the recent grant of a UK patent covering the lithium extraction from black mass. Protecting this unique and differentiated extraction process was critical, as it ensures that Battery Minerals can operate with its unique method protected, giving it a crucial commercial edge.

In addition, patent applications for the removal of key impurities from metal products have both been allowed in the US and Europe, further securing Battery Minerals' competitive advantage. This makes the Company's technology more attractive to battery manufacturers and recyclers which require stringent quality standards.

John Wood, CEO of Gelion, commented: "This is a significant step forward for Gelion and our mission to accelerate the energy transition. Battery Minerals is bringing world-class talent and truly differentiated technology to a global challenge. We're excited by the momentum and the strong early interest from potential partners."

Recycling