LONDON (dpa-AFX) - Shares of Gelion plc (GELN.L) were gaining nearly 24 percent in the morning trading in London after the Anglo-Australian battery innovator Wednesday said it has signed a Joint Development Agreement or JDA with Glencore International AG, a diversified resource company.
The JDA aims to accelerate the commercialisation of Gelion's next generation battery technologies.
With the deal, the companies will coordinate together to assess the suitability of Gelion's battery technologies for Glencore's use in its stationary and / or mobile applications.
Following this coordination, they will initiate a pilot testing programme to validate opportunities identified.
The companies also plan to conduct a review of the supply chain input materials necessary for manufacturing Gelion's battery technologies identifying synergies for Glencore's strategic supply of materials to Gelion.
John Wood, Gelion CEO said, 'This JDA provides opportunity to assess alongside Glencore the scope of opportunity to potentially introduce Gelion's next-generation battery technologies to the global mining sector. The objective is to combine the strength of Glencore's operational application knowledge and raw materials supply with Gelion's next-generation battery technology innovation understanding to investigate the match of performance to mining applications.'
Gelion also plans to explore any potential synergies with Glencore in the field of lithium-ion battery recycling by leveraging the IP recycling patent portfolio Gelion acquired from Johnson Matthey in 2023.
In London, Gelion shares were trading at 23 pence, up 24.32%.
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