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

A bright future for EVs with Ilika’s battery advancements

Ilika PLC is pushing boundaries in the electric vehicle (EV) industry through its innovative Goliath solid-state battery programme. This forward-thinking project has recently reached an exciting milestone, with the successful creation and testing of 10Ah power

Ilika plc

Ilika achieves D6 milestone in solid-state battery development for EVs

Ilika plc (LON:IKA), an independent global expert in solid-state battery technology, has announced that it has successfully reached its D6 milestone by testing 10Ah cells in its Goliath solid state batteries for electric vehicles. The systematic testing to industry standards

Ilika plc

Optimising power management for Ilika Stereax solid state batteries

As rechargeable batteries are integrated increasingly into various applications, optimal charging, storage, and discharge processes are essential to maximise operational lifespan. Power management solutions, including Power Management Integrated Circuits (PMICs) and Application-Specific Integrated Circuits (ASICs), are

Ilika plc

The next generation of energy storage

Lithium-ion rechargeable batteries are vital components in modern technology, powering devices for hours or even days. First introduced by Sony and Asahi Kasei in 1991, these batteries brought a significant shift in energy storage, packing immense

Ilika plc

Solid-state batteries and the future of electric mobility

Emerging battery technology is undergoing continuous research, with advancements focused on enhancing performance, increasing energy capacity, and reducing charging times. Among these developments, solid-state batteries are viewed by many as a significant milestone with the potential

Ilika plc

Ilika and the future of Solid-State Battery technology

The global transition towards sustainable technologies has fuelled significant growth in advanced materials, particularly in the energy storage sector. This sector is crucial as the world increasingly adopts renewable energy sources and electric vehicles (EVs). With

Ilika plc

The future of Energy Storage with Solid-State Batteries

A solid-state battery is a type of battery that utilises a solid electrolyte, unlike the more common lithium-ion batteries that depend on liquid electrolytes. These batteries are classified based on their electrolyte material, including polymer solid

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.