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Gelion PLC ( (GB:GELN) ) has provided an announcement.
Gelion PLC has announced an equity fundraising of up to £10.5 million through a Placing, Subscription, and Retail Offer, with the proceeds aimed at advancing their sulfur battery technology and supporting growth initiatives. This fundraising is expected to strengthen Gelion’s market position by enabling the development of commercial prototypes and enhancing collaborations with major industry players, potentially derisking the commercialization pathway and expanding their influence in the energy storage sector.
More about Gelion PLC
Gelion PLC is a global innovator in the energy storage industry, focusing on sulfur-based battery technology. The company aims to enhance its relevance within the global energy storage sector by developing proprietary technologies that replace expensive and toxic materials, making them compatible with existing manufacturing infrastructures.
Average Trading Volume: 87,963
Technical Sentiment Signal: Buy
Current Market Cap: £43.33M
Learn more about GELN stock on TipRanks’ Stock Analysis page.