Source - LSE Regulatory
RNS Number : 1405X
Ilika plc
26 August 2020
 

Ilika plc

("Ilika" or the "Company")

 

Stereax® manufacturing plans update

Strengthening of the Senior Management team

 

Ilika (AIM: IKA), a pioneer in solid-state battery technology, would like to take the opportunity to update the market on the implementation of its manufacturing plans for Stereax, Ilika's miniature solid-state batteries designed for industrial wireless sensors in hostile environments and medical implants.

 

In the Company's Trading Update issued on 9 June 2020, Ilika explained that it had issued Requests for Information (RFI's) to four 3rd party fabrication facilities (FABs), two in Europe and two in North America, to prepare for the selection of its preferred fab partner. Ilika has now entered into detailed commercial discussions with two of the FABs, with a view to concluding discussions in Q4 2020.

 

Ilika confirmed, in the Final Results announcement on the 9 July 2020, that the contract had been awarded for the most significant long-lead equipment item, Tool 1, a custom-designed evaporation tool for the rapid deposition of cathode materials for Ilika's Stereax batteries. The Company continues to expect that this will be ready for delivery to Ilika in Q4 2020 for process development.

 

Ilika has now also placed the order for Tool 2, which deposits the remaining battery layers on top of the cathode. The delivery of this tool is synchronised with the delivery of Tool 1 to ensure optimal deployment of capital. Tools 1 and 2 are balanced to deliver a 70x productivity increase relative to Ilika's current pilot line capability.

 

Ilika, has strengthened the Company's Senior Management team by appointing Paul Marron to the newly created position of Technology Transfer Director, to oversee the implementation of Ilika's process at FAB scale. Paul has extensive operational experience in the semiconductor, automotive and aerospace industries.

 

Ilika's CEO Graeme Purdy, stated, "We remain entirely focused on agile project execution as we prepare our Stereax technology to meet the rigorous demands of full commercialisation. We are pleased to report that everything is on schedule, post shareholder support from the recent capital raise, despite challenging economic market conditions and the constraints of the pandemic."

 

For more information contact:

 

Ilika plc

 

 

www.ilika.com

Graeme Purdy, Chief Executive

Via Walbrook PR

Steve Boydell, Finance Director




Liberum Capital Limited

Tel: 020 3100 2000

Andrew Godber, Cameron Duncan, William Hall, Nikhil Varghese




Walbrook PR Ltd

Tel: 020 7933 8780 / Ilika@walbrookpr.com

Tom Cooper

Mob: 0797 122 1972

Lianne Cawthorne

Mob: 07584 391 303

Nick Rome

Mob: 07748 325 236

 

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