Commenting on the results Graeme Purdy, CEO of Ilika Plc LON:IKA, said: “In the first half of the year Ilika has delivered a series of Stereax(R) development and deployment partnerships which are driving revenue growth and enhancing insight into the addressable sectors for its technology. The progress being made towards the commercialisation of Stereax technology is illustrated by the increased number of Stereax(R) samples sent to a diverse range of potential OEM partners for evaluation. Ilika is well-positioned to generate value from its globally-recognised reputation for expertise in solid-state materials and battery technology and is seeing increased corporate interest consistent with greater activity in the global battery sector.”
Ilika (AIM: IKA), a pioneer in solid-state battery technology and materials innovation, announced its unaudited half yearly report for the six months ended 31 October 2017.
Operational Highlights
-- Exchanged detailed Stereax(R) performance data with over 60 potential OEM partners -- Shipped sample batteries to 10 potential OEM partners for detailed technical evaluation -- Three of these have progressed to development and deployment partnerships:
o Advanced a development programme to integrate a Stereax(R) battery in a miniature medical implant product (value to Ilika of GBP700,000 over 18 months from March 2017)
o Commenced a development programme to integrate a Stereax(R) battery with a photovoltaic energy harvesting solution from Lightricity (ex-Sharp) (value to Ilika of GBP320,000 over two years from July 2017)
o Secured a deployment programme with Titan Wind Energy, China’s largest wind turbine manufacturer, to use Stereax(R) M250 batteries to power strain sensors for turbine blade condition monitoring (value to Ilika of GBP400,000 over two years from March 2018)
— Continued to implement the Stereax(R) roadmap to achieve increased capacity per footprint and miniaturisation requirements
-- Executed the following materials development programmes:
o plasmonic lenses and Heat Assisted Magnetic Recording (HAMR) materials with Seagate
o battery materials with Johnson Matthey
o game changing energy materials with Toyota and
o aerospace alloys in collaboration with partners including Rolls Royce, GKN and BAE Systems.
-- Expanded proprietary IP with patents granted in USA for core-shell catalysts for fuel cells -- ISO 9001Certification achieved in December 2017
Financial Summary
-- Total revenue for the period GBP1.0m (H1 2016: GBP0.3m) -- Loss per share 2p (H1 2016: 3p per share) -- Cash balance at period end GBP3.9m (H1 2016: GBP7.1m)
