Graeme Purdy, CEO of Ilika, commented: “The hard work invested by our operational team in manufacturing and characterising prototype batteries this year has been reinforced by positive feedback from potential commercial partners. The feedback from those partners builds confidence that our technology will be in a strong position to address significant commercial opportunities going forward.”
Ilika (AIM: IKA), the accelerated materials innovation company, has given DirectorsTalk a trading update for the six months ended 31 October 2015.
Operational Progress
Since the Company’s AGM on 30 September 2015, Ilika’s flagship solid-state battery development programme has continued to make progress in accordance with the product roadmap.
Ilika is currently focused on manufacturing micro-battery prototypes designed to power wireless sensors for applications across the ‘Internet of Things’ (“IoT”) market. In accordance with the objectives outlined previously, the performance data generated by Ilika’s batteries has been shared with a group of potential OEM partners for their evaluation, enabling them to draw up detailed specifications for specific battery architectures for their proprietary products. The specifications vary by application but can broadly be grouped into:
— Miniature (1mm(2) and less footprint) batteries with high energy density for integrated electronics and healthcare applications
— 1cm(2) footprint batteries useful to power sensors in smart buildings to measure light, temperature and humidity feeding into lighting and HVAC control systems
— 1cm(2) footprint batteries that can operate in more extreme (high temperature) environments, typically for transport applications including aerospace and automotive.
Ilika continues to deploy operational resources on this development programme to ensure the Company proceeds in line with our roadmap.
Ilika also continues to progress other programmes in its portfolio, in particular the development of aerospace alloys, in collaboration with partners including Rolls Royce, GKN and BAE Systems.
Trading Update
More operational resource has been dedicated to the battery development program than in the prior period and financial results for the six months ended 31 October 2015 are expected to show total revenue for the period of GBP0.3m (H1 2014: GBP0.6m) resulting in an operating loss for the period of GBP1.8m (H1 2014: GBP1.6m). Cash and cash equivalents at the period end were GBP4.5m (H1 2014: GBP7.2m).
The Company will announce half-year results for the six months ended 31 October 2015 on 12 January 2016.
