Ilika plc Interims show solid-state progress – Zeus Capital

Ilika plc
[shareaholic app="share_buttons" id_name="post_below_content"]

Ilika plc (LON:IKA) interims today show the company is executing its solid-state battery commercialisation strategy as planned. We leave FY17 & FY18 forecasts unchanged and look for first OEM licensing deals and associated up-front payments in the coming months. The very low leakage currents, high energy densities, extended life span and hot operation capability of Ilika’s, state-of-the-art, Stereax™ solid-state platform, compared to incumbent lithium ion technologies, open up lucrative, high-growth, miniaturized (1mm2), elevated temperature and energy harvesting sensor markets. Examples of such are internet of things (‘IoT’), bio-electronic, industrial and transport applications. Ilika is rightly focussing (c.75% of resource) on solid-state battery commercialisation. The remaining resource is focussed on core materials development contracts in other areas, including aerospace engine super-alloys, electronic materials, and lithium-sulphur batteries for scale storage, with BAE systems & GKN, Seagate and Johnson Matthey respectively.

* Interims in-line, solid-state battery commercialisation with OEM licensing partners in key target markets on track. In H117 Ilika has been progressing discussions with a selection of potential solid-sate battery commercialisation OEM partners, and we expect these to produce first OEM licencing deals in key application areas in the coming months. Initial up-front licensing payments, coupled with on-going materials development contract revenues, will drive the top line, and we currently leave FY17 and FY18 forecasts unchanged.

* Solid cash position. Ilika completed a successful net £5.8m equity fundraise in October, to provide balance sheet strength ahead of key OEM licensing negotiations. The company is debt free, and has a well-controlled sub-£4m annual cash burn, resulting in a healthy cash position of £7.1m at period end.

* The company is focussing on solid-sate battery commercialisation and has world-class technology capable of exploiting explosive growth mass markets. Ilika’s advanced Stereax™ solid-state battery platform enables OEM’s, device designers and system integrators to create differentiated products including ‘leave for life’, bio-compatible and high-temperature batteries for sensors at a time when markets for such technologies are exploding. Circa15 billion sensors for wireless networks were sold in 2015, constituting a 200% per annum growth rate. Ilika is gaining recognition as a world-leader in this rapidly evolving field.

* The company continues to run its core materials discovery and optimisation model. In addition to solid-state battery commercialisation, Ilika continues to run its core business model, performing rapid materials discovery and development programs with blue-chip clients in a number of high-tech fields. These include 2 contracts on super-alloys for aerospace engines; the first with Rolls Royce on improved thermal performance, and the second with GKN and BAE systems developing self-healing super-alloys suitable for mass production by 3D printing.

Commenting on the results Graeme Purdy, CEO of Ilika Plc, said: “In the first half of the year we have intensified commercial discussions with potential solid-state battery licensees, further strengthened our IP portfolio and augmented our materials discovery programmes.”

We’ll keep you in the loop!

Join 1,000's of investors who read our articles first

We don’t spam! Read our privacy policy for more info.

Share on:
Find more news, interviews, share price & company profile here for:

Ilika publishes 2025 Annual Report, advancing Goliath and Stereax

Ilika plc has released its 2025 Annual Report, outlining progress on Stereax licensing with Cirtec and Goliath EV battery milestones, including customer-validated P1 cells and delivery of a 50Ah prototype.

Ilika: Advancing micro-battery technology with Stereax milestone (LON:IKA)

Ilika CEO Graeme Purdy discusses the completion of manufacturing qualification for Stereax micro batteries at Cirtec’s US facility. With production underway, Ilika plans to begin customer deliveries by year-end. Purdy highlights the batteries’ compact, high-power design tailored for medical applications, and reinforces Cirtec’s strategic role in scaling commercial operations.

Ilika hits Stereax production milestone with Cirtec, Cavendish

Cavendish frames the update as a substantial de risking event. The commissioning phase in January 2025 was a vital precursor, and the latest qualification work represents the final technical validation before production.

Ilika plc Stereax Micro Batteries Enter Production with Customer Deliveries on the Horizon (Video)

CEO Graeme Purdy shares a pivotal update on the company’s Stereax micro batteries as they complete manufacturing qualification and move into production.

Ilika CEO discusses year-end results, Stereax and Goliath progress (LON:IKA)

Graeme Purdy, Ilika Plc’s Chief Executive Officer, speaks to DirectorsTalk about the company’s strong year‑end results, the strategic alignment with Cirtec for Stereax manufacturing and the latest Goliath milestones.

Ilika wins £1.25m APC grant for Goliath A-Samples (LON:IKA)

Ilika has secured £1.25m from the Advanced Propulsion Centre’s Demonstrate fund within the Government’s new £2.5bn Drive35 programme, supporting a £3m, 12-month PRIMED project with HSSMI and UKBIC to produce Goliath A-Samples.

Search

Search