Gelion UK Ltd, a UK-Australian energy-storage company, has confirmed its intention to float on AIM, probably by the end of the month.
There are no details as yet on how many shares will be issued and at what price but reports back in October, when the idea of Gelion listing was first touted, stated that the company intends to raise more than £16mln through its initial public offering (IPO).
READ: Battery pioneer Gelion Technologies to raise £16mln through AIM float
It claims to have developed a way to make zinc-bromide batteries tougher, more efficient, and better equipped to work at higher temperatures, with the money raised through the flotation intended to assist in the company’s attempts to commercialise its technology.