Hi Bill,
Typically, gel coat is a pigmented, catalyzed, polyester resin sprayed into a mold to give the first layer against the mold. Resin & CSM/cloth/1708/roving are then laid in over that. Once cured, the gel coat is the outer coating of a fiberglass boat. It gives you color, abrasion protection, prevents water intrusion into the glass and also imparts some UV protection. It can also be sprayed onto a surface after a boat is laminated or repaired.
When sprayed into a mold....NO wax is used in the gel.
The "release" would either be wax or PVA (poly vinyl alcohol).
Lou