Gelion PLC (AIM:GELN) on Tuesday announced it has entered a full collaboration agreement with TDK Corporation to advance sulfur battery technologies.
The partnership aims to develop pouch cell prototypes using Gelion’s sulfur cathode active material.
Prototyping will begin at TDK’s plant in Nagano, Japan, with the goal of progressing to prototype production lines within 12 months.
"It is a great honour to be able to work alongside TDK toward realising the exciting potential of this breakthrough battery technology," Gelion chief executive John Wood said.
"TDK is one of the world’s great innovation centres and lives its brand identity 'In Everything, Better'. In Gelion’s path, alongside MPI toward positive transformation, there is no better partnership we could form than with TDK to lead the way."
TDK general manager Dr. Yasushi Enokido, meanwhile, added: "We are delighted to collaborate with Gelion and the Max Planck Institute of Colloids and Interfaces to advance next-generation battery technologies.
"We aim to accelerate the development of practical, high-performance solutions. This partnership reflects our focus on driving innovation and contributing to a more sustainable future."
Gelion, separately, confirmed on Tuesday morning that it raised gross proceeds of approximately £10.5 million through a placing, subscription, after it closed an oversubscribed WRAP Retail Offer.
The WRAP Retail Offer raised £500,000 through the issue of 2.5 million new ordinary shares at 20p each.