High Lithium Recovery at Battery Minerals Ltd

Gelion plc (AIM: GELN), the global energy storage innovator, is pleased to announce that its wholly owned subsidiary, Battery Minerals Ltd ("Battery Minerals"), has advanced the development of its 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.

Following the announcement of strong operational progress in June 2025, the Company is now looking towards an initial demonstration project planned for 2026. The Company intends to finance this in a structure that is non-dilutive to Gelion shareholders through investment either at the Battery Minerals or asset level.

Key technical milestones achieved

• Validation of results from Johnson Matthey technology completed, demonstrating ultra-high lithium extraction from battery waste analogues.
• >95% lithium recovery from battery waste analogues demonstrated at Battery Minerals' London-based testing facility using optimised process conditions.
• >80% lithium recovery demonstrated on partner real-world 'black mass' battery waste samples during initial tests, achieving industry benchmarks with prospective customer feedstock. Testing is now scaling to larger volumes with process optimisation to achieve higher lithium recovery rates, as seen on waste analogues.

Technology Overview

Battery Minerals' process uses a novel lithium extraction method enabling a significant reduction in lithium extraction time, meaning that battery recycling units could be commercially applicable even at small scale.

Unlike conventional approaches reliant on dangerous reagents and higher operating severities, this process applies moderate processing conditions and non-toxic reagents to unlock ultra-high lithium extraction levels from battery waste to produce a lithium chemical product.

The results demonstrate the efficacy of the process for ultra-high lithium recovery - with initial results on real world battery waste (black mass) achieving industry benchmarks.

Additional environmental benefits include lower chemical consumption and the elimination of a problematic solid waste stream generated from conventional recycling methods.

With the global battery recycling market projected to reach $30-40 billion by 2030[1], Battery Minerals is strategically positioned to address the dual challenges of battery waste and critical mineral supply security.

John Wood, CEO of Gelion, commented: "We are very pleased with the strong systematic process being achieved by our Battery Minerals subsidiary. The team delivering this, led by Jacob Carpenter, is being very effective in developing its proprietary value proposition to support future independent funding."

Recycling

[1] https://www.statista.com/statistics/1103263/li-ion-battery-recycling-market-size/