REG - Ilika plc - Award of Grant Funding for Goliath

IlikaAnnouncement

26/01/2023 07:01

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230126:nRSZ8814Na&default-theme=true

RNS Number : 8814N  Ilika plc  26 January 2023

Ilika plc

("Ilika" or the "Company")

 

Award of Grant Funding for Goliath

 

Further funding secured from Faraday Battery Challenge, supported by BMW
and Williams Advanced Engineering and partnered with Nexeon

 

Ilika (AIM: IKA), a pioneer in solid-state battery (SSB) technology, announces
it is leading a 24-month £8.2 million Faraday Battery Challenge collaboration
programme to integrate high silicon content electrodes into its Goliath
solid-state batteries ('SSB') to enable automotive level performance. Ilika
will receive a grant of £2.8 million over the 24-month programme, Project
HISTORY, which will commence on 1 February 2023.

 

BMW Group ('BMW') and Williams Advanced Engineering ('WAE') will join the
programme's steering committee. Ilika will partner with Nexeon, one of the
UK's leading manufacturers of battery materials, and experts from four of the
UK's top academic Universities and Catapult to deliver an automotive
industry-defined SSB by programme end. Alongside, Ilika will be working with
manufacturing consultants HSSMI to deliver an SSB Life Cycle Analysis (LCA).

 

The UK Government-backed Faraday Battery Challenge aims to support a
world-class scientific, technology development and manufacturing scale-up
capability for batteries in the UK. The Challenge is focused on developing
cost-effective, high-performance, durable, safe and recyclable batteries to
capture a growing market.

 

Project HISTORY follows on from Ilika's previous successful Faraday Battery
Challenge programmes which supported the development of the Goliath SSB
baseline cell and the construction of Ilika's pre-pilot line. Since those
initial developments, Ilika has been working with industry specialists on
scale-up activities in line with its industrialisation programme and expects
to deliver prototype automotive A sample SSB's from its scaled pilot facility.

 

Graeme Purdy, Ilika CEO, stated: "Project HISTORY supports the continuation of
the technology development work Ilika has been undertaking since the
completion of its previous Faraday Battery Challenge programmes. It also
builds on work supported by the Faraday Institution and the Advanced
Propulsion Centre. It will see the delivery of an automotive cell, defined by
the industry as a minimum viable product, to enable us to move quickly into an
industrial SSB pack and Battery Management System programme. This is an
exceptionally strong consortium with first class expertise and world-renowned
industrial experience and will ensure the UK continues to develop technology
for the rapidly emerging SSB market."

 

Tony Harper, Challenge Director for the Faraday Battery Challenge said:
"Solid-state batteries have the potential to revolutionise the way electric
vehicles are powered. The consortium Ilika is leading is an outstanding
combination of UK capabilities designed to drive forward the development of a
multi-layer, solid-state pouch cell to deliver the next big step in the safety
and performance of EV batteries. I look forward to seeing how their technology
develops over the course of the project."

 

Georg Steinhoff, Head of R&D at BMW Group said "At BMW Group we have more
than 13 years of automotive Battery cell development experience. Our Battery
cell technology know-how is a key success factor in our electrification
strategy, as it defines both operational performance as well as vehicle cost.
The development of all solid-state batteries is an important and promising
long term goal, to make future battery-electric vehicles even more sustainable
and efficient. We are delighted to be part of Project HISTORY and to see the
next developments in Ilika's solid-state battery technology."

 

Rob Millar, Head of Electrical at Williams Advance Engineering (WAE) said "WAE
will be working with Ilika and the HISTORY consortium with the objective of
further developing Ilika's solid-state Goliath pouch cells. WAE remains
focused on retaining its leadership position in Applied Battery Technology and
by working with companies such as Ilika, sees the benefit of gaining valuable
insight into solid-state technology and its application in modules and packs.
We look forward to a long and mutually beneficial relationship."

 

The information contained within this announcement is deemed by the Company to
constitute inside information for the purposes of Regulation 11 of the Market
Abuse (Amendment) (EU Exit) Regulations 2019/310. Upon the publication of this
announcement via a Regulatory Information Service ("RIS"), this inside
information is now considered to be in the public domain.

 

 

 For more information contact:
 Ilika plc                                               www.ilika.com (http://www.ilika.com/)
 Graeme Purdy, Chief Executive                           Via Walbrook PR
 Jason Stewart, Chief Financial Officer

 Liberum Capital Limited (Nomad and Joint Broker)        Tel: 020 3100 2000
 Andrew Godber,
 William Hall, Nikhil Varghese

 Joh. Berenberg, Gossler & Co. KG (Joint Broker)         Tel: 020 3207 8700
 Matthew Armitt, Mark Whitmore, Detlir Elezi,
 Mara Grasso

 Walbrook PR Ltd             Tel: 020 7933 8780 / Ilika@walbrookpr.com
 Lianne Applegarth                                       Mob: 07584 391 303
 Nick Rome                                               Mob: 07748 325 236

 

About Ilika plc

Ilika specializes in the development of solid-state batteries. Its Stereax
product line is designed for miniature medical implants and specialist
internet of Things (IoT) applications. Stereax enables disruptive product
designers looking for an intrinsically safe, long life (1000s recharges), low
leakage (nA) and miniature power source in a rectangular form factor similar
to ICs.

 

For more information about Ilika, please visit:  https://www.ilika.com
(https://www.ilika.com) .

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCSELFWIEDSESF