Commenting on the results Graeme Purdy, CEO of Ilika, 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.”
Ilika (AIM: IKA), a pioneer in materials innovation and solid-state battery technology, has told DirectorsTalk its unaudited half-year report for the six months ended 31 October 2016.
Operational Highlights
· Shipped evaluation volumes of StereaxTM M250 batteries to potential OEM partners
· Refined solid-state battery development roadmap with improved definition of temperature, capacity and miniaturisation requirements
· Granted patents:
o In China for Ilika’s proprietary process to produce solid-state batteries
o In Europe for its unique High-Throughput Vapour Deposition synthesis platform
· Awarded £365k grant to develop protected anodes for lithium sulphur batteries
Financial Summary
· Total revenue for the period £329k (H1 2015: £254k)
· Loss per share 3p (H1 2015: 3p per share)
· Net cash inflow in the period £4.1m (H1 2015: outflow £1.5m)
· Placing in the period raised £5.8m net of expenses
· Cash balance at period end £7.1m (H1 2015: £4.5m)
Post Period End
· Received notifications of intent to award three new grants, two of which involve solid state battery integration programmes, amounting to an aggregate revenue value to the Company of £1.4m over two years.
· Received a notification of intent to award a commercially-funded materials development programme from an existing customer to a value of around $1m over 12 months.
· Received Notices of Allowance in the US in respect of two patent applications covering its vapour deposition process for solid state battery materials and also, metal oxide supports for fuel cell catalysts
