Ilika PLC (AIM:IKA, OTCQX:ILIKF) chief executive Graeme Purdy discusses a trading update and the latest company milestones with Proactive's Stephen Gunnion.
Purdy highlighted that Ilika's financial performance for the year ending in April is expected to be in line with projections, noting a significant revenue increase from £0.8 million the previous year to approximately £2 million. This growth is largely attributed to grant support for their Goliath development programme. He provided an update on the Goliath batteries, mentioning that they had reached a milestone in late 2023, which allowed them to start producing P1 prototypes for external evaluation. These prototypes are currently being tested, with results expected to be shared with partners soon.
Additionally, Purdy touched on achieving lithium ion parity with their Goliath batteries, marking a significant technological advancement. He also discussed the progress with their Stereax product following a tech transfer and licence agreement with Cirtec in the USA, which is moving forward with the initial production line installed and operational.
Purdy said investors can participate in a Q&A session with Ilika on 26 April at 11am BST on the Investor Meet Company (IMC) platform by registering here: https://www.investormeetcompany.com/ilika-plc/register-investor
Contact Details
Proactive UK Ltd
+44 20 7989 0813
uk@proactiveinvestors.com
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Ilika plc is a United Kingdom-based developer of solid-state battery (SSB) technology designed to meet the specific demands of a range of applications in medical technology, Industrial Internet of Things (IoT), electric vehicles (EVs) and consumer electronics. It focuses on developing intellectual property (IP), manufacture and license solid state batteries for markets that cannot be addressed with conventional batteries due to their safety, charge rates, energy density and life limits. It has two product lines: miniature Stereax SSBs for powering medical devices and industrial wireless sensors in specialist environments, and large format Goliath SSBs for EVs and cordless appliances. Stereax enables disruptive product designers looking for a long life (1000s recharges), low leakage (nA) and miniature power source with a rectangular form factor similar to ICs. Miniature Stereax batteries can enable solutions in a form factor not achievable with conventional lithium-ion batteries.