Ilika Stereax and Goliath projects on track (LON:IKA)

Ilika plc (LON:IKA) Chief Executive Officer Graeme Purdy caught up with DirectorsTalk for an exclusive interview to discuss their latest trading update, Stereax solid state batteries, progress of the Cirtec MOU, the Faraday Battery Challenge Goliath project and when to expect audited results.

Q1: Graeme, you’ve issued a trading update this morning regarding the financial year that just finished, at the end of April. Could you just recap the numbers for us please?

A1: First of all, just to say that these are unaudited numbers, actually our auditors are mobilising this week in order to confirm them.

Trading has been in line with management expectations so we expect to announce revenues of about £0.8 million, which is up on last year, last year we came in at about £0.5 million. EBITDA loss – we always exclude our share-based payments from this for clarity – was about £7 million relative to an EBITDA loss last year of £6.4 million. Cash and cash equivalents at the period end were about £15.8 million, and that compares to, at the end of April last year, about £23.4 million.

Q2: Now, it’s been a busy couple of months with your miniature Stereax solid state batteries, they’re starting to ship. Could you just share some detail on that for us?

A2: Well, it’s been a very exciting time for Ilika.

So, just last month of course, we released our first customer shipment of Stereax M50 cells, sent them out to customers in April, and then earlier this month, at the beginning of May, we actually started shipping our M300 batteries.

There were a couple of customers who are actually very good to confirm receipt of those and talk a bit about the applications that those batteries are destined for.

Q3: What’s the status of the Cirtec MOU you announced in January?

A3: The discussions have been ongoing to convert that MOU into a full legal contract.

So, just to recap, Cirtec is actually a strategic outsourcing partner for complex medical devices, and they work typically with large OEM’s and we have signed this MOU for the transfer of Stereax millimetre-scale battery manufacturing to their facility in the US. As part of this, we will licence our Stereax technology to them for implementation.

We’ve got a pretty mature contract in place now, we’re just sorting out the final aspects of that so that’s very much a live discussion and we expect to come to closure on that shortly.

Q4: Now, in January, you also announced a large grant-funded collaboration for your large format Goliath batteries, how’s that going?

A4: Well, actually on Friday, we just had our first quarterly project review. So, we had a technical review with all of the partners involved, as well as a steering committee discussion in which BMW and WAE were involved.

It’s a 24-month, £8.2 million Faraday Battery Challenge supported collaboration, really interesting subject around high silicon content electrodes in our Goliath solid state batteries. Very much on track, had a great first quarter, great kick-off.

Q5: Finally,  when will the audited results be issued?

A5: They will be issued, if everything goes to plan, on Thursday 13th July so they’ll go out first thing that morning.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Ilika plc

More articles like this

Ilika plc

Welcoming battery event in sunny Germany

In a glorious end of summer weather, I have just attended the Battery Tech Europe Conference in Munich, Germany. Impeccably organized by the iQHub team, the event focused on battery-related issues, mostly in relation to transportation and electric

Ilika plc

Ilika at IMechE: International EV Batteries Conference

Date: 7th Nov 2023 – 8th Nov 2023 Location: Birmingham, UK The pivot towards EV mobility driven by the UK government’s 2030 ban on the sale of new petrol and diesel cars means one thing: traditional vehicle markets

Ilika plc

Solid-state batteries: The future of power storage

The world of power storage is on the brink of a revolutionary shift, as solid-state batteries are poised to redefine the landscape of energy storage. With the increasing demand for renewable energy sources and the growing prominence of

Ilika plc

A closer look at Solid-State Batteries

As we stand on the brink of a new era in technology, the future seems to hold exciting possibilities. One such promising innovation is the solid-state battery, a technological marvel that is poised to revolutionize the energy storage

Ilika plc

Ilika AGM to be held on Wednesday 20 September 2023

Ilika plc (LON:IKA), a pioneer in solid state battery technology, has confirmed that the Annual Report and Accounts for the year ended 30 April 2023 and the Notice of the 2023 Annual General Meeting will be made available shortly to view

Ilika plc

What are solid-state batteries?

To understand what a solid-state battery is, we need to first look at existing battery technology first. Most modern EVs are equipped with Lithium-Ion batteries, with separators within its cells to keep their anodes and cathodes apart. The

Ilika plc

Ilika plc: Developing Solid-State Batteries

Ilika plc is a UK-based company that focuses on developing and commercializing innovative solid-state batteries. Their main products are the Stereax batteries, which are thin-film miniature solid-state batteries used to power implantable medical devices and industrial wireless sensors

Ilika plc

Cirtec and Ilika finalise Stereax battery manufacturing deal

Battery developer Ilika has signed a 10-year deal for Cirtec Medical to manufacture Stereax batteries in Lowell, Massachusetts. The two medtech suppliers announced their partnership on the millimeter-scale, solid-state batteries in January. Now, Ilika and Cirtec Medical say they

Ilika plc

Ilika signs 10-year manufacturing licence with Cirtec

Ilika plc (LON:IKA), a pioneer in solid-state battery technology, has announced that, further to its announcement on 16 January 2023, it has concluded contractual negotiations with Cirtec Medical, an industry-leading strategic outsourcing partner of complex medical devices including minimally

Ilika plc

Ilika’s stock price soars beyond 50-day moving average

On Monday, Ilika plc saw its stock price surge above its 50-day moving average, indicating a positive shift in its trading pattern. Throughout the trading day, the stock’s 50-day moving average was at GBX 41.04 ($0.53) and reached

Ilika plc

Ilika posts turnover of £0.7 million in fiscal 2023

Romsey-based Ilika reported turnover of £0.7 million in its year to end-April, 2023 compared to £0.5 million in the year earlier period as the company continues to commercialise its Stereax miniature solid-state batteries for medical devices and specialist

No more posts to show