Ilika Plc (LON:IKA) CEO Graeme Purdy discusses why oil major Total SA (EPA:FP) would make a near €1 billion euro wager on renewable energy, with a bid for battery maker Saft Group SA (EPA:SAFT).
Friday news emerged that the French oil giant Total SA was to buy all of Saft SA share at a price of €36.50 each. That would be a 38% premium to the opening price Friday when the announcement was made. Graeme shares his thought’s on why the company would make such a move. Ilika plc is a United Kingdom-based holding company. The Company is focused on its lead program, the development of a solid-state battery. The solid-state batteries developed by the Company are a type of lithium-ion batteries in which the liquid or polymer electrolyte has been replaced by a ceramic ion-conductor. The company has been inventing new materials for energy and electronics markets for over a decade, including in automotive, aeronautical and electronic components sectors. Global brands such as Rolls Royce and Toyota collaborate with Ilika’s development teams to create innovative products or improve the performance of existing components. By applying that heritage of patented materials invention, the company has developed ground-breaking solid state batteries to meet the specific demands of a wide range of applications in the IoT. The company is now licensing its battery technology IP to partners for IoT sensors for the Smart Home/Building; Medical; Automotive and Transportation sectors around the world.