For those unfamiliar, Static Shock (aka Static) is a metahuman who gained the ability to harness electromagnetism after contact with a dangerous chemical. Static has appeared numerous times over the years in various forms of media. There is even a framed copy of Static #1 visible in The Fresh Prince of Bel-Air. Voice artist Phil LaMarr, who has voiced Static in animated form, was present during the panel.
There was no word on the status of the project aside from the development news, so who knows what filmmakers or cast would be interested in bringing Static to life.