REG - Gelion PLC - Appointment of CEO

GelionAnnouncement

09/11/2022 07:00

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RNS Number : 7403F  Gelion PLC  09 November 2022

9 November 2022

Gelion plc

("Gelion" or the "Company")

 

Appointment of CEO

 

Gelion (AIM: GELN), the Anglo-Australian battery storage innovator, is pleased
to announce the appointment of Mr. John Wood as Chief Executive Officer
("CEO"), who commences his role on 21 November 2022, succeeding interim CEO
Hannah McCaughey who has now completed her tenure. It is intended that John
will become a Director of Gelion and join the Board following the Company's
AGM to be held on 9 December and following satisfactory completion of the
required regulatory due diligence.

 

John has a 30-year track record of successful entrepreneurship and
establishing global businesses in emerging technology markets, having both
founded and led several enterprises and teams to develop multiple breakthrough
technologies and solutions during significant industry transitions.

 

Prior to joining Gelion, John was CEO at Ecoult, a company founded to develop
and commercialise an advanced Lead Acid battery technology. During his 12-year
tenure as CEO, John initiated and led the fundraising process to facilitate
commercialisation of Ecoult's products whilst at the same time worked to
establish the company's product development roadmap and market positioning.
Ecoult was acquired in 2010 by East Penn manufacturing, one of the world's
largest lead-acid manufacturers.

 

Prior roles include founding StepNexus in 2005 (Now MULTOS International
Secure Services), the security provider for smartcard platforms and Keycorp,
the global payments technology service provider where he spearheaded product
development and rollout and grew the company's market value from A$1m to
A$400m in eight years, during which time he was also responsible for
overseeing the group's listing on the Australian Securities Exchange (ASX).

 

In addition to his wealth of commercial experience, John also brings
significant advisory experience having previously been appointed to a number
of boards, committees and panels in both the US and Australia either in an
advisory or non-executive capacity.

 

John Wood joins the team with the aim of executing Gelion's ambitious
commercial timetable to take its breakthrough battery technology to the global
markets.

 

Hannah McCaughey was appointed interim CEO in March 2022 to review and drive
the commercialisation plan, and notably supported the Company in executing its
production plans. Hannah has now completed her interim engagement with the
Group and resigned as Director with effect from 28 October 2022.

 

Dr Steve Mahon, Chairman of Gelion, said: "John is an experienced CEO with a
track record of growing technology companies and delivering shareholder
returns. With his wealth of commercial, battery and manufacturing experience,
I am confident that under his leadership we can take Gelion to the next level
of growth. Having now successfully transitioned the battery manufacturing from
laboratory to production, John's depth of knowledge and proven record of
creating shareholder value will help Gelion plan for scale. We are excited to
welcome John to the leadership team and look forward to Gelion's future
success.

 

"On behalf of the Board, I would also like to personally thank Hannah
McCaughey for her hard work and contribution since March; she has helped us to
achieve a significant milestone in September with the first industrial
production of Gelion's zinc-bromide battery at Battery Energy and we wish her
every success for the future."

 

Commenting on his appointment, John Wood, CEO, said: "The energy storage
industry is a critical contributor to the clean energy transition that is
growing very quickly. There are two principal manufacturing streams today,
lithium and lead acid. Gelion's innovative team has created exciting new
optionality in terms of a zinc bromide cell that has strong overlap with lead
acid production line methodologies, offering a path to very strongly enhanced
relative performance in energy density, temperature, and cycling capabilities.
The team has also created a potentially breakthrough extension to lithium
battery chemistry with its approach to combining a lithium-silicon anode with
a sulfur cathode, moving toward not only high energy density but also safety
enhancements.

 

"It is an honour to lead this effort and I look forward to helping the team
achieve strong commercialisation and to deliver success for all stakeholders
of Gelion by introducing the technologies into an industry and community of
suppliers and customers I know well and respect."

 

 

CONTACTS

 Gelion plc                                                    via Alma PR

 Steve Mahon, Chairman

 Amit Gupta, CFO

 Thomas Maschmeyer, Founder and Principal Technology Advisor

 finnCap Ltd (Nominated Adviser and Sole Broker)               +44 207 220 0500
 Corporate Finance

 Christopher Raggett

 Seamus Fricker

 Fergus Sullivan

 ECM

 Barney Hayward

 Alma PR (Financial PR Adviser)                                +44 20 3405 0205

 Justine James                                                 gelion@almapr.co.uk

 Josh Royston

 Hannah Campbell

 Will Ellis Hancock

 

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