Commenting on the results Ilika’s Chairman, Mike Inglis, said: “The past year has seen strong progress from Ilika both operationally and financially. The Stereax® pilot line has produced samples of Ilika’s batteries for evaluation by 12 partners around the world. Feedback from those evaluations has been positive and underpins our ongoing commercialisation efforts. Following market demand we have extended our roadmap to include large format Stereax® cells for automotive power and I was delighted to see that Innovate UK has offered to support Ilika in two of the Faraday Challenge automotive collaborations with £4.1m of funding working with key industry players such as Honda, McLaren and Ricardo. Financially, revenue climbed over the £2m mark, with expectations of further growth in the year to come.”
Ilika PLC (LON: IKA), a pioneer in solid-state battery technology and materials innovation, announced its full-year results for the year ended 30 April 2018.
· Implementation of Stereax® development programmes with three commercial partners:
o Deployment in miniature medical implants with a leading bioelectronics company
o Collaboration with Lightricity (ex-Sharp) to integrate Stereax® solid state batteries with photovoltaic technology
o Deployment of Stereax® M250 cells with Titan Wind Energy, in condition monitoring devices for wind turbines
· Collaboration with global eight OEM’s to develop new functional materials:
o Protected anodes for lithium sulphur batteries with Johnson Matthey
o Advanced battery materials and fuel cell catalysts that can power future zero-emissions and carbon-neutral vehicles with Toyota Research Institute
o Photonic materials for high capacity Hard Disk Drives with Seagate
o P-type semiconductors for flexible integrated circuits with PragmatIC and Arm
o Superalloys with Rolls Royce
o Self-healing alloys with BAE Systems and GKN
· Award of ISO9001 certification to Ilika’s quality management system.
· Post year end: offer of £4.1m grant funding from the Faraday Challenge to develop large format solid-state cells for automotive in collaboration with Honda, Ricardo, McLaren and A123 Batteries.
· Revenues £2.1m (2017: £1.1m)
· Loss for the year £2.9m (2017: £3.5m)
· Loss per share 3.7p (2017: 4.8p)
· Cash, cash equivalents and bank deposits of £2.8m (2017: £5.4m)