Google has just released Google Gears for Mobile Devices. As posted in the GearsBlog:

The mission of Gears is to extend the capabilities of web browsers. It is clear to us that mobile browsers can benefit just as much as desktop ones. By adding features to mobile browsers, it becomes possible to deploy an increasing number of mobile applications as web apps.

Gears currently only runs on Internet Explorer for Windows Mobile versions 5 and 6. However, it is expected to find its way onto other platforms soon.