Source: Sharecast
The technology in question is based on a process originally developed at chemicals giant Johnson Matthey, which was acquired by Gelion in 2023.
Following the grant and booster funding through the Advanced Propulsion Centre as announced in March, the company said it was making significant operational and technical progress.
This includes the appointment of key team personnel, including the appointment of Dr Koen Vandaele – the original inventor of the core lithium extraction patents and former Johnson Matthey technical lead – as principle scientist.
Meanwhile, a dedicated testing facility in London has been commissioned, while the team is validating key data and sample testing black mass (the granular material left behind after lithium batteries are shredded) to see how much lithium can be recovered.
Gelion also hailed the strengthening of its IP portfolio, with the recent grant of a UK patent covering the lithium extraction from black mass, while patent applications have been allowed in the US and Europe.
"This is a significant step forward for Gelion and our mission to accelerate the energy transition," said chief executive John Wood.
Shares were 3.7% higher at 24.89p by 1023 BST.