A planned £25m (€29m) share placing will ramp production of electric vehicle solid state battery technology from UK developer Ilika
UK solid state battery pioneer Ilika is planning to raise £24.7m (€29m) for a ten fold increase in production of its solid state battery technology.
The company plans to raise £21m by placing shares with institutional and retail investors, with a further £3.7m through the issue of new shares to existing Ilika shareholders through an open offer.
Ilika plc (LON:IKA) is a pioneer in solid state battery technology enabling solutions for applications in Industrial IoT, MedTech, Electric Vehicles and Consumer Electronics.