ELEQTRION Investors
2025 Report Presentation
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Q3 2025 Shareholders Update
Dear ELEQTRION Community,
From the outset, ELEQTRION’s vision has been to develop two distinct aluminum-ion battery platforms: one based on an aqueous electrolyte system and another leveraging ionic liquid chemistry. This dual-path strategy reflects our commitment to addressing diverse market needs—from cost-sensitive stationary storage to high-performance mobility applications.
Lab Review: Strengths, Gaps, and Strategic Focus
This quarter, board advisor Ben Wrightman and other stakeholders provided valuable feedback following a visit to our R&D lab at ÉTS. Their observations highlighted both our progress and the areas requiring focused attention:
- Our R&D team continues to demonstrate strong technical leadership and adaptability
- Infrastructure upgrades—particularly the addition of a glove box— essential to improve test reliability and reproducibility
- Implementing a more structured methodology to manage setbacks and validate performance at scale
- Before scaling to pouch cells, we must complete robust cycle testing of 50–60 coin cells per chemistry to build confidence in both platforms
- While we are not yet commercially ready, we are progressing toward viable cells with stable performance
- Success comes in stages—individual components or chemistries may reach commercial viability ahead of full systems, and strategic partnerships may play a key role in bridging gaps
- Strengthening our technical bench, particularly in binder and electrode design, will be critical to accelerating development
- Our timeline expectations must remain realistic
This feedback reinforces our internal assessment: we are building the right foundation, but we must remain disciplined, transparent, and strategic as we move forward with both battery platforms.
William Reynolds
CEO | ELEQTRION
Q2 2025 Shareholders Update
Dear ELEQTRION Community,
Q2 2025 was a dynamic quarter for ELEQTRION, marked by strategic growth and exciting partnerships that advance our mission to deliver safer, scalable, and sustainable aluminum-ion battery technology. Here’s a look at our progress:
Key Highlights
- Welcoming Dr. Syeda Wishal Bokhari to our R&D Team. Dr. Bokhari, an expert in aluminum-ion battery development, has joined our team at ÉTS’s lab, strengthening our innovation in battery technology.
- Joining PRIMA Québec. With Nathan Hostettler appointed to their Board of Directors, we’re thrilled to collaborate with Québec’s advanced materials ecosystem, unlocking opportunities for sustainable growth and potential funding.
- Engaging with Propulsion Québec. Our active participation in their 2025 Annual General Meeting connects us with Québec’s electric and smart transportation sector, fostering innovation and partnerships.
- Advancing Lab Capabilities. We’re working with ÉTS to equip our lab with pouch cell manufacturing equipment to accelerate our R&D.
- Planning for Scale-Up. We’ve initiated discussions with specialized firms to conceptualize our future production line, laying the groundwork for commercial scalability.
- Building an Advisory Board. We’re forming a team of experts in product development and commercialization to guide our strategic vision.
Looking Ahead
Our partnerships with academic leaders, including ÉTS and UdeM, are driving progress in our aluminum-ion technology. Promising discussions with early adopters and potential financing partners are paving the way for growth. With increased Canadian government focus on sustainable technologies, we’re well-positioned to explore new opportunities. Our 2025 roadmap is on track, with goals to scale multi-layer pouch cells and engage customers in mobility, grid storage, and backup sectors.
Thank you for supporting ELEQTRION’s journey to redefine energy storage. We’re excited for what’s next!
William Reynolds
CEO | ELEQTRION
Q1 2025 Shareholders Update
Dear Shareholders, Partners, and Friends of ELEQTRION,
As we close the first quarter of 2025, I am thrilled to share our progress, achievements, and strategic vision for the year ahead. ELEQTRION continues to make significant strides in advancing sustainable energy storage through our innovative Aluminium-ion (Al-ion) battery technology, positioning us as a key disruptor in the rapidly evolving battery market. This letter highlights our technological milestones, financial developments, team growth, and strategic partnerships — all of which reinforce our path toward commercialization.
A Transformative Year Ahead: Our Vision for 2025
The global demand for safer, more sustainable, and cost-effective energy storage has never been greater. With lithium-ion batteries facing supply chain constraints, geopolitical risks, and significant safety concerns, ELEQTRION’s Al-ion technology offers a compelling alternative — leveraging abundant materials, superior safety, simpler technology and competitive performance.
Our 2025 roadmap continues to be focused on three key priorities:
- Scaling our technology from lab-scale pouch cells to multi-layer prototypes
- Strengthening partnerships with industry leaders to accelerate commercialization
- Engaging early adopters to refine product-market fit projecting “Pre-A” samples and revenue in Q4 2025 and “A” Samples in 2026
Breakthrough Achievements in Q1 2025
Technological Milestones
- Successful pouch cell development: We recently advanced our Al-ion battery from coin cells to functional pouch cells — as planned, a critical milestone achievement towards commercial viability.
- Record energy density: Our aqueous Al-ion system, HydroCellTM, now achieves 450 Wh/kg (approaching our 500 Wh/kg year-end target), while our ionic liquid system, UltraCellTM , demonstrates ultra-fast charging (120C+ rate) and 10,000+ cycle potential.
Strategic Partnerships & Funding
- A Joint Development Agreement (JDA) is being formalized with major partner market leader to optimize cathode and electrolyte formulations and secure our technology IP.
- MOU with Sakuu is underway, exploring dry-printed Al-ion cathodes for next-gen manufacturing.
- Procurement agreements with our components providers are in place, ready to be expanded to pre-production.
- Ongoing discussions with potential early adopters clients and key strategic collaborations.
- Close to $1M secured in total in grants supporting our project from various sources, including the Quebec Government (CQRDA & MEIE).
Team Expansion & Lab Growth
- Tripled our R&D Team from one to three full-time researchers / battery scientists, supported by ÉTS’s scientific team
- Renewed our research agreement for our current lab at ÉTS (with support from INRS) for another 3 years
- Anticipating Q2 completion of our new Lab at ÉTS with equipment for pouch cell manufacturing and accelerating prototype development
Financial & Operational Highlights
While we remain in the R&D phase, our financial position is stable, supported by non-dilutive grants and strategic partnerships as well as cautious, efficient and responsible management of finances, which is part of our company culture. Key updates:
- Stable Supply Chain: All materials are scalable and western sourced, reducing geopolitical risks.
- Capital Efficiency: Grants and collaborations minimize burn rate while maximizing technical progress.
- Path to Revenue: Early customer engagements expected in Q4 2025 / Q1 2026 for prototype testing.
- Accelerator program: Recently completed the Cycle Momentum program with great exposure to VC groups.
- Upcoming grants: New submissions are being assembled for accelerating development of components.
- “Friends and Family” round extended until we announce our key milestones of the first pouch cell (already produced) and signing of our early adopter clients.
What’s Next in 2025?
Our focus for the remainder of the year includes:
- Multi-Layer Pouch Cells: We intend scaling from single-layer to 10+ layer prototypes.
- Material Optimization: Partnering with major provincial and federal battery research institutions and separator suppliers to optimize performance.
- IP Protection: Submit patent applications to secure our IP and having our first technical publication.
- “Pre-A” Samples: Functional prototypes with first revenues projected by Q4 2025 and “A” Samples in projected in 2026.
- Market Discovery: Expanding dialogue with EV/mobility, grid storage, and critical power backup partners for customer feedback.
- Pre industrialization: Continue discussions with technology accelerators to assemble the building blocks of an eventual assembly line.
Closing Thoughts
The energy transition demands better batteries—ones that are safer, cheaper, and truly sustainable. ELEQTRION’s Al-ion technology is proving that this vision is within reach. I want to thank our shareholders, partners, and incredible team for their continued support. Together, we are building the foundation for a new era in energy storage.
Stay tuned for more updates — exciting times lie ahead!
William Reynolds
CEO | ELEQTRION
ELEQTRION in 2024
Dear Shareholders
As we reflect on the year 2024, I am pleased to share with you the remarkable progress and achievements ELEQTRION has made. This year has been transformative for our company, marked by significant advancements in our aluminium-ion battery technology and strategic partnerships that position us for continued growth and innovation.
Technological Advancements
One of our most notable achievements this year was the substantial increase in the energy density of our aluminium-ion batteries. Starting the year, development of our HydroCell product started with an energy density of 160 Wh/kg. We successfully enhanced this to 380 Wh/kg by June, representing a 130% improvement. In addition, we have developed UltraCell, our power battery, that has energy densities like LFP batteries, but 60 times the charging rate. These breakthroughs underscore our commitment to pushing the boundaries of energy storage technology and delivering superior solutions to our customers.
Strategic Collaborations
In 2024, we forged several key partnerships that will drive our future success. ÉTS Montreal, renowned for its successful collaboration with industry, is providing resources for product development. Our co-development service agreement with Hydro Québec’s Centre d’Excellence en Électrification des Transports et en Stockage d’Énergie and our collaboration with Sakuu and the Quebec Metallurgy Center are pivotal in advancing our technology and expanding our market reach.
Industry Recognition
Our efforts have not gone unnoticed. We are proud to have been recognized for our innovative approach and contributions to the energy storage industry. These accolades are a testament to the hard work and dedication of our team, and they motivate us to continue striving for excellence. Our selection by the Cycle Momentum Climate Tech Acceleration Program highlights our leadership in the clean energy sector.
Looking Ahead
As we move into 2025, we remain focused on our mission to revolutionize energy storage and e-mobility taht support a sustainable, lower-carbon economy. We are currently negotiating an MOU with our first customer and will begin prototype pouch cell production of our HydroCell and UltraCell products.
We are excited about the opportunities ahead and are confident that our strategic initiatives will drive long-term value for our shareholders. Thank you for your continued support and trust in ELEQTRION. Together, we are shaping the future of energy storage.
Sincerely,
William Reynolds
President & CFO
ELEQTRION
2024 Report Presentation
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