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Gelion (LSE:GELN), the Anglo-Australian battery innovator, has established Battery Minerals Ltd ("Battery Minerals"), a wholly owned subsidiary in the UK. This new entity will focus on developing and commercializing lithium-ion (Li-Ion) recycling technology acquired from Johnson Matthey in 2023. The launch is supported by a significant grant of up to £170,000 from the UK government's Department of Business and Trade (DBT), facilitated by the Advanced Propulsion Centre UK (APC) through the Technology Developer Accelerator Programme (TDAP).
Battery Minerals' Strategic Objectives
Battery Minerals aims to revolutionize lithium-ion battery recycling with a novel process designed to reduce costs, minimize waste, and lower carbon dioxide emissions. The technology will enhance the efficiency of lithium extraction from a broader range of battery scrap sources. The increasing volume of battery waste poses both an environmental challenge and an economic opportunity, projected to be valued at $30-40 billion globally by 2030. This initiative also represents a strategic opportunity for achieving self-sufficient minerals supply.
Grant and Funding Details
The grant will fund a market-focused study and technology development program to identify the most effective route to commercialize the battery recycling intellectual property (IP). The TDAP will provide substantial commercial support, connecting Battery Minerals with potential customers, investors, and supply chain partners within the UK battery ecosystem.
In addition to the grant, Gelion will allocate approximately £100,000 during the accelerator program to further develop and clarify the intrinsic value of Battery Minerals. This funding will support the assessment of the entity's value and monetization strategy.
Accelerator Programme Phases
The Technology Developer Accelerator Programme will be conducted in two phases:
- Phase 1: Market Focus (June 2024 - January 2025): This phase includes developing a comprehensive techno-economic analysis, a go-to-market strategy, and a product strategy with industry partner support.
- Phase 2: Technology Validation (February 2025 - November 2025): This phase involves research and development to advance the technology readiness level (TRL) of the recycling process and may support a feasibility study for a larger-scale pilot plant.
Funding Breakdown
The programme's funding includes up to £170,000, with £20,000 provided in-kind by programme delivery partners.
