In the race to tackle climate change, the move from petrol and diesel to electric cars has meant huge investment in battery development. Whilst originally targeting automotive, this new battery technology isn’t limited to the EV market and could benefit other markets where similar gains in performance are welcome (reduction in battery size for cordless domestic appliances) if not critical and enabling (new transportation, eVTOLs etc). These other markets are not only benefiting from the advances of battery technology in the EV market but also the timing – electric vehicles need to be mainstream in order to adhere to the global pact to combat climate change as signed in the Paris Agreement.
Next April will be five years since the signing of the Paris Agreement and there will be a global review of the progress so far. In most countries, cars are the largest emitter of greenhouse gas emissions and in the UK they contributed to 55% of domestic transport emissions in 2018.
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.