Source - Alliance News

Ilika PLC - Romsey, England-based solid-state battery technology company - Says it will be receiving further grant support to scale up its Goliath pilot production capability from the Automotive Transformation Fund. This will be delivered through a 16-month, £2.7 million collaboration programme, of which Ilika will receive £400,000. Ilika is currently partnering with Mpac Group PLC, a global engineering firm, to design, build and commission a 1.5 megawatt per hour solid state battery assembly line capable of delivering Ilika’s Goliath SSB prototype large-format pouch cells to automotive OEMs and Tier 1 suppliers. This collaboration, codenamed Project SiSTEM, will run in parallel with Project HISTORY.

Chief Executive Officer Graeme Purdy says: ‘Project SiSTEM builds upon previous ATF support in Project BUS100 which found that with minor adaptations, Ilika’s electrodes could in principle be produced in volume on the UKBIC lines. Project SiSTEM will undertake those physical trials, proving Ilika’s technology can be successfully scaled. Our collaboration with Mpac will see the development of a scaled SSB assembly line which will be capable of delivering A-sample automotive pouch cells for testing in 2025. This is an important step in Ilika’s roadmap, enabling us to engage closer with OEMs as we start to deliver SSB cells into their test programmes

Current stock price: 29.75 pence

12-month change: down 45%

Copyright 2023 Alliance News Ltd. All Rights Reserved.

Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account. AJ Bell logo

Related Charts

Ilika PLC (IKA)

+0.50p (+1.67%)
delayed 15:49PM