31 March 2026

Gelion plc
("Gelion", the "Company" or the "Group")

Exceptional Technical Results and Expansion of Testing with TDK Corporation

Gelion (AIM: GELN), the sulfur battery company, is delighted to announce exceptional performance results from its Nano-Encapsulated Sulfur (NES™) Cathode Active Material (CAM) platform leading to an expansion in the Collaboration Agreement scope with TDK Corporation ("TDK"). These developments further validate the performance potential and commercial readiness of Gelion's cathode technology.

Gelion is seeking to replace the strategic minerals in current Lithium-ion battery cathodes with Gelion's NES™ that are low cost and can be dropped into existing global manufacturing lines. Gelion's NES™ is made from sulfur which is abundantly available and free from supply chain constraints.

Highlights

· Lithium-Metal Pouch Cell Results: TDK has successfully fabricated two-layer lithium-metal pouch cells incorporating Gelion's NES™ CAM. These cells are currently under test, with results so far revealing leading cycle-stability within the lithium-sulfur sector.

·   Exceptional cycling with externally lithiated NES™ Graphitic Anode: Full cell testing using industry standard graphitic anodes (dominant anode in today's Li-ion batteries) and Gelion's lithiated NES™ cathode as the sole lithium reservoir (cathode provides all the energy carrying lithium) achieved exceptional stability at 1C charge/discharge, surpassing 750 cycles (ongoing).

·    Successful NES™ Cathode lithiation: Gelion has developed protocols for the successful lithiation of NES™ cathode. Our next steps will be toward adapting our protocols to align with existing industry capabilities toward the goal of enabling scalable, cost-effective manufacturing.

·  Expanded Collaboration with TDK: TDK and Gelion will expand the scope of their collaboration to include commercially applied anode-types. Cells that pair Gelion's NES^TM sulfur cathode with graphitic anodes will be a key focus of this initiative.

Li-Metal Pouch Cell Testing

The second phase of testing for double-layer lithium-metal pouch cells with TDK has delivered strong results. The cells have reached extended cycle numbers and retain excellent capacity under continuous testing, proving the robustness of the NES™ platform in commercially relevant cell formats. This technology is aimed at the drones and niche applications, and these results confirm the potential use case.

Exceptional cycling result using Graphitic Anode

Recent testing pairing the NES™ CAM with graphitic anodes (the dominant anode in Li-ion batteries today) yielded exceptional results. In these full-cell tests, Gelion's lithiated NES™ CAM served as the sole reservoir of lithium, with the associated full cells achieving highly consistent charge and discharge characteristics over 750 cycles using 100% depth of discharge at a 1C charge/discharge rate (aggressive for cycle-life testing).

This is a critical milestone targeting drones and electrical vehicle markets and demonstrates the potential of Gelion's NES^TM CAM for integration as a "drop-in" into established cell architectures, lithium-ion markets and gigafactory manufacture.

Successful lithiation

Operationally, the Company has successfully developed protocols for the lithiation of NES™ cathode. This breakthrough is a critical precursor to industrial-scale manufacturing, making mass production easier and cheaper.

Expanded Collaboration with TDK

Following these successful results, Gelion and TDK have agreed to expand their testing protocols. The next phase will take the NES™ cathode beyond lithium-metal anodes.

John Wood, CEO of Gelion, said: "I recently visited TDK in Tokyo for an exchange that bridged members of our own team and the team working with our materials at TDK.  When teams like this work together in tight collaboration, magic can happen. We are still learning the full scope of potential of Gelion's NES™ material, but these results present strong signposts for our vision of Sulfur emerging as a high performance, low cost cathode alternative alongside the leading incumbents, NMC and LFP."

For more information, please visit Next-Generation Sulfur Battery Technologies | Gelion or contact:

Market Abuse Regulation

This announcement contains inside information for the purposes of Article 7 of EU Regulation No. 596/2014, which forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended.

About Gelion

Gelion plc, the sulfur battery company is developing next‑generation battery technologies that aim to accelerate the clean energy transition by delivering sustainable, high‑performance, cost‑effective energy storage solutions. Central to its strategy is proprietary sulfur‑based cathode active material (CAM) technology, which uses nanoconfinement to control sulfur behaviour in lithium‑sulfur and room‑temperature sodium‑sulfur battery architectures Nano-Encapsulated Sulfur (NES™), addressing historical performance limitations and enabling compatibility with standard lithium‑ion and sodium‑ion manufacturing infrastructure. The NES™ material is being developed with the goal of having "drop in" capability in place of alternate cathode materials to support scalable production in existing gigafactories and targets critical benchmarks for energy density and power performance, with applications across electric mobility, e‑aviation, grid and stationary storage. Gelion works with Tier One industrial partners to commercialise its technology and deliver integrated energy storage systems that support global decarbonisation goals.

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