SYDNEY, Nov. 29, 2022 /PRNewswire/ -- Global renewable energy storage innovator Gelion (AIM:GELN) has appointed the former CEO of battery developer Ecoult and decades-long innovator in battery and energy solutions, John Wood, as its new Chief Executive Officer.
John succeeds interim CEO Hannah McCaughey, who was appointed in March 2022 to review and drive the commercialisation plan and has now completed her interim engagement.
John has a 30-year track record of successful entrepreneurship and establishing global businesses in emerging technology markets, having both founded and led a number of large enterprises and teams to develop multiple breakthrough technologies and solutions during significant industry transitions.
During his 12-year tenure as CEO of Ecoult, John developed and commercialised an advanced lead acid battery technology, leading the fundraising process while establishing 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.
At Keycorp, John grew the company's market cap from A$1 million to A$400 million in just 8 years, and oversaw the group's listing on the 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 joins the team to take Gelion's breakthrough battery technology to the world, and become a significant player in the global battery market which is predicted to grow to $265 Billion by 2026.
Dr Stephen Mahon, Gelion Chairman, 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. Hannah has helped us to achieve a significant milestone in September with the first industrial production of Gelion's zinc-bromide battery at the Battery Energy factory, and we wish her every success for the future."
John Wood, Gelion CEO, said: "The energy storage industry is a critical contributor to the rapidly accelerating clean energy transition, of which lithium batteries play a primary role.
"However, compared to lithium solutions, Gelion's gel-based zinc bromide battery is more cost effective, unreliant on rare earths, sustainably produced, recyclable, safe in high temperatures, and provides long duration storage with lower maintenance costs. They are also scalable on a predominantly Australian supply chain, and integrate with existing lead-acid production lines.
"It is an honour to lead this effort and I look forward to helping the team deliver success for all stakeholders by engaging an Industry of suppliers and customers I know well and respect."
Gelion recently achieved a significant milestone with the commissioning of the manufacturing plant at Battery Energy Power Solutions ('Battery Energy') in Western Sydney and first industrial production of Gelion's non-lithium zinc-bromide battery.
Gelion (AIM:GELN, www.gelion.com) is a global renewable-energy storage innovator, supporting the transition to a sustainable economy and delivering value for customers and investors, by designing and manufacturing the world's best batteries for stationary and mobile energy.
Gelion was spun-out from the University of Sydney in 2015 by Professor Thomas Maschmeyer, one of the world's leading chemists, Fellow of the Australian Academy of Science, and recipient of the Australian Prime Minister's Prize for Innovation 2020 - the country's highest honour for scientific entrepreneurship.
Its ESG credentials are strongly aligned to six of the UN's 17 Sustainable Development Goals, and its shares are listed on the AIM market of the London Stock Exchange where it received the Green Economy Mark at IPO in November 2022, recognising its commitment to energy transition.