Ilika projects increased revenue and announces new partnership with Agratas

Ilika, a company based in Romsey, anticipates reporting revenues of approximately £2.1 million for the year ending April 30, a significant increase from £0.7 million in 2023. This growth is driven by advancements in manufacturing its Stereax miniature solid-state batteries and Goliath cells for electric vehicles and cordless appliances.

The AIM-listed company noted in a stock market statement that unaudited trading for the year has met management expectations. For the same period, Ilika projects an earnings before interest, tax, depreciation, and amortisation (EBITDA) loss, excluding share-based payments, of around £4.5 million, an improvement from the £7 million EBITDA loss in 2023.

As of April 30, Ilika’s cash and cash equivalents were £11.9 million, compared to £15.8 million on the same date the previous year.

Operational achievements included transferring the manufacturing of its thin-film Stereax miniature solid-state batteries (SSBs) to Cirtec Medical. These batteries are used to power medical devices and industrial wireless sensors in specialised environments.

Additionally, Ilika recently announced that Agratas, a global battery business from the Tata Group, joined its SiSTEM grant-funded scale-up activity.

Ilika and Agratas have also entered into a 12-month agreement to support Ilika’s development milestone, D8 (50Ah, chemistry frozen), expected in the first half of 2025. This partnership aims to create licencing opportunities and explore broader collaborations.

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.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
X
LinkedIn
Ilika plc

More articles like this

Ilika plc

The science behind solid-state batteries

Solid-state batteries differ significantly from traditional lithium-ion batteries by employing a solid electrolyte instead of a liquid one. The electrolyte in these batteries is a solid material, which facilitates the movement of ions between the anode

Ilika plc

Ilika’s breakthrough in Goliath solid-state battery technology

Ilika announced progress in developing its Goliath solid-state battery technology, supported by safety tests carried out by University College London (UCL). The tests demonstrated that Ilika’s Goliath prototypes offer significantly better safety than conventional lithium-ion batteries.

Ilika plc

Solid-state batteries: The future of energy storage

Solid-state batteries represent a significant advancement in energy storage technology, utilising a solid electrolyte instead of the liquid or gel found in conventional lithium-ion batteries. This innovation creates a safer, more compact, and energy-dense power source

Ilika plc

Solid-state batteries power the future of electric vehicles

Lithium-ion (Li-ion) batteries currently dominate the electric vehicle (EV) market, providing the high torque needed for rapid acceleration and consistent speeds. These batteries are known for their high energy density and relatively long lifespan. However, the

Ilika plc

Ilika publishes Annual Report & Notice of AGM

Ilika plc (LON:IKA), an independent global expert in solid state battery technology, has published its Annual Report and Accounts for the year ended 30 April 2024 and the Notice of the 2024 Annual General Meeting (AGM).

Ilika plc

Solid state batteries are the future of electric vehicles

Electric vehicles (EVs) share many similarities with their gas-powered counterparts, such as seats, tyres, and the steering wheel’s function. However, the most significant difference, which could determine the widespread adoption of EVs, lies in the battery

Ilika plc

Development of solid state batteries

A solid-state battery is a device that transforms chemical energy into electrical energy by using a solid electrolyte to transfer lithium ions between electrodes. Unlike lithium-ion batteries, which use liquid or gel electrolytes, solid-state batteries consist

Ilika plc

The evolution of Solid-State Batteries

As technology advances, the demand for more efficient, safer, and durable energy storage solutions grows. One promising innovation on the horizon is the solid-state battery, which replaces the liquid or gel electrolyte found in conventional lithium-ion

Ilika plc

The potential of Solid State Battery technology

Solid-state battery technology is a promising innovation poised to revolutionise the energy storage industry and offer substantial environmental benefits. Unlike traditional lithium-ion batteries, which use liquid or gel electrolytes, solid-state batteries employ solid electrolytes made from

Ilika plc

The future of MedTech and patient health management

MedTech is evolving rapidly, transforming the healthcare sector by integrating the interconnectivity of the Internet of Things for more proactive patient health management. This advancement has led to an increased demand for remote patient monitoring, requiring