A New Era for Sulfur Cathodes
New materials.
Real-world possibilities.
Advancing nano-encapsulated sulfur. Building global partnerships. Creating a practical pathway to adoption.
Download Annual Report 2026
01The year in numbers
Technical momentum.
A strong platform for growth.
FY2026 combined strategic funding, technology transfer and partner-led validation with a capital-light approach to commercialisation.
02Operational and strategic progress
From scientific progress
to strategic possibility.
2025 → 2026
July 2025
Building the development base
Commenced the £2.3m ARENA-funded sulfur development programme. Nottingham partnership established for solid-state pouch cell prototyping.
September 2025
Technology transfer to Australia
Max Planck technology transferred and NES™ CAM production scaled in Australia. APC funding secured for the QinetiQ project.
October 2025
A drop-in proposition
TDK collaboration agreed. NES™ CAM introduced for lithium-ion and sodium-ion manufacturing. £10.5m gross capital raise; three US Li-S patents advanced; target areal capacity reached.
January 2026
Deepening scientific expertise
Professor Rachid Yazami appointed Technology Advisor.
March 2026
Validation broadens the opportunity
TDK collaboration scope expanded following strong NES results.
June 2026
An international platform
Three-year £1.8m grant-funded Nissan Technical Centre Europe / University of Oxford collaboration. Exclusive NES cathode IP licence with Max Planck Innovation. US entry with NLR. Matt Wood appointed CEO; John Wood became Senior Advisor.
Gelion enters the coming year with strong technical momentum, an expanding portfolio of strategic partnerships and a clear pathway towards commercial growth.
03Investment case
A differentiated material.
A practical route to market.
A technology and partnership model built around adoption — not the capital intensity of owning every stage of battery production.
Global commercial validation
Independently validated global partnerships supporting targeted, partner-led validation and scale-up.
Differentiated sulfur chemistry
Nano-Encapsulated Sulfur cathode material designed for practical adoption in established battery ecosystems.
Designed for drop-in adoption
Compatibility with existing lithium-ion manufacturing offers a pathway without major factory retooling.
Abundant, resilient materials
Sulfur supports more geographically diverse supply chains and reduces reliance on critical battery metals.
A substantial IP platform
Over 200 patents and patent applications across sulfur battery and recycling technologies.
Capital-light commercialisation
Licensing, joint development and cathode material supply, supported by grants, funded collaborations and R&D tax incentives.
Market opportunity
The next generation
of applications
needs new chemistry.
Drones, aerospace and consumer electronics are near-term targets. Electric vehicles offer a medium-term opportunity, subject to longer validation and qualification cycles.
04Demand, grounded in evidence
Drones lead defence
battery demand.
4.3 GWh
Total defence battery demand / 2025
Defence drone battery demand is forecast to exceed 7 GWh by 2040.
Benchmark Mineral Intelligence (2026), Powering the Modern Battlefield: The Role of Batteries in Defence, Defence Special Issue, August 2026.
05NES technology platform
New cathode material.
Existing infrastructure.
Nano-Encapsulated Sulfur - NES™
Gelion’s differentiated sulfur cathode active material is designed to work with established lithium-ion components that include graphite anodes and standard off-the-shelf electrolytes.
The intended drop-in approach allows partners to explore new chemistry using existing manufacturing infrastructure, avoiding major factory retooling.
- 01
NES™ CAM
Differentiated cathode active material
- 02
Established components
Graphite anodes + standard electrolytes
- 03
Existing manufacturing
Partner-led cell validation and scale-up
06A global supply. Abundant by nature.
A different starting point, for more resilient supply chains.
>20×
More sulfur is produced annually than nickel, cobalt and lithium combined.
An abundant cathode building block, supporting a more diverse materials base.
80%
Of sulfur supply sits outside China, versus 1% for LFP.
07International partnerships
A partnership model built for scale.
Combining world-class research, industrial scale and market access to accelerate NES™ adoption.
Australia
Core technology & refinement
Gelion Technologies Pty Ltd
hrl · University of Sydney · ARENA
Europe & UK
Research & application development
Gelion Europe Ltd
Max Planck Institute of Colloids and Interfaces · QinetiQ · University of Nottingham · University of Oxford / Oxford University Innovation · Nissan
Japan
Materials & manufacturing ecosystem
Industrial collaboration
TDK · Mitsui Kinzoku¹
United States
Scale-up, validation & market access
Gelion U.S. Corp
National Laboratory of the Rockies (NLR)
Top 15 & Top 5
automotive OEM partners
Gelion has been granted important partnership status with a global automotive brand. This is an important step towards commercialisation and real world usage for our battery technology.
08Financial performance
Disciplined capital.
Partner-led commercialisation.
Four years of financial performance, reflecting disciplined deployment of capital and a capital-light pathway to market.
09The complete picture
Gelion FY’26 Annual Report
Explore the technology, partnerships and financial performance behind Gelion’s latest progress. Download your copy of the report now.
Download Annual Report 2026