REG - Ilika plc - Award of Scale-up Grant Funding for Goliath

IlikaAnnouncement

09/10/2023 07:15

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RNS Number : 0438P  Ilika plc  09 October 2023

Ilika plc

("Ilika" or the "Company")

 

Award of Scale-up Grant Funding for Goliath

 

Further funding secured from Automotive Transformation Fund, partnered
with Mpac Group plc and The UK Battery Industrialisation Centre

 

Ilika (AIM: IKA), a pioneer in solid state battery technology, announces it is
receiving further grant support to scale-up its Goliath pilot production
capability. The support is being provided from the Automotive Transformation
Fund ('ATF') in a 16-month, £2.7 million collaboration programme, of which
Ilika will receive £400,000. In the programme, which commenced on 01 October
2023, Ilika is partnering with Mpac Group plc ('Mpac') (AIM: MPAC) and the UK
Battery Industrialisation Centre ('UKBIC').

 

Mpac is a global engineering and service provider of automation and packaging
solutions. They design, precision engineer and manufacture high-speed
automation solutions within key sectors including Clean Energy. Ilika and Mpac
will work closely to design, build and commission a 1.5MWh solid state battery
('SSB') assembly line capable of delivering Ilika's Goliath SSB prototype
large-format pouch cells to automotive OEMs and Tier 1 suppliers. The SSB
assembly line is expected to be fully operational at Ilika's facility by the
end of H1 2025.

 

The UKBIC facility, based in Coventry, UK, provides the missing link between
battery technology which has proved promising at laboratory or prototype scale
and successful mass production. The UKBIC will build on the work carried out
in the completed BUS100 programme by undertaking physical trials to produce
Ilika's SSB electrodes at GWh scale.

 

The ATF is a funding programme created to support large-scale
industrialisation. Up to £850 million of funding will be invested in
developing a high-value end-to-end electrified automotive supply chain in the
UK. The fund is highlighted as an important mechanism to reach targets in UK
Government's 10-Point Plan for a green industrial revolution and its Transport
Decarbonisation Plan.

 

This collaboration, codenamed Project SiSTEM, will run in parallel with
Project HISTORY, announced on 26 January 2023, which will develop prototype
automotive A-sample SSBs that will be produced on the scaled Ilika pilot
facility.

 

Graeme Purdy, Ilika CEO, stated: "Project SiSTEM builds upon previous ATF
support in Project BUS100 which found that with minor adaptations, Ilika's
electrodes could in principle be produced in volume on the UKBIC lines.
Project SiSTEM will undertake those physical trials, proving Ilika's
technology can be successfully scaled. Our collaboration with Mpac will see
the development of a scaled SSB assembly line which will be capable of
delivering A-sample automotive pouch cells for testing in 2025. This is an
important step in Ilika's roadmap, enabling us to engage closer with OEMs as
we start to deliver SSB cells into their test programmes."

 

Julian Hetherington, Director of the Automotive Transformation Fund, said: "We
are delighted to be able to support Ilika's project seeking to validate
higher-scale SSB manufacturing processes and which utilises the world-class
facilities at UKBIC to demonstrate roll-to-roll coating of solid state
materials. SSB technologies have the potential to be transformational in
vehicle battery pack design due to their stable nature and open up
applications possibilities at higher safe operating temperatures."

Adam Holland, Chief Executive Officer at Mpac Group plc, expressed his
enthusiasm: "We are thrilled to announce our new partnership with Ilika and
UKBIC after the successful award of the prestigious ATF grant for Project
SiSTEM. Mpac is a market leader in complex automation, and we are eager to
leverage our expertise in developing a cutting-edge innovative solution that
will enable the reliable assembly of solid state batteries. This project not
only demonstrates our commitment to technological advancement but also aligns
with the UK government's vision for a cleaner and more sustainable world."

 

Sean Gilgunn, Managing Director of UKBIC, said: "We're delighted to be working
with Ilika on trials to support the development of the Company's solid state
battery technology. Being able to scale up and demonstrate manufacturing
innovation for battery technologies at UKBIC is a valuable resource for the
UK's growing battery sector."

 

 

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,
 Nikhil Varghese

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

 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 - https://www.ilika.com (https://www.ilika.com/)

Ilika specialises in the developing and commercialisation of solid state
batteries. The Company's mission is to rapidly develop leading-edge
IP, manufacture and license solid state batteries for markets that cannot be
addressed with conventional batteries due to their safety, charge rates,
energy density and life limits. The Company achieves this by using
ceramic-based lithium-ion technology that is inherently safe in manufacture
and usage, higher thermal tolerance and easier to recycle which
differentiates our products from existing batteries.

 

The Company has two product lines. Its Stereax batteries which are designed
for powering miniature medical implants, industrial wireless sensors and
specialist internet of Things (IoT) applications and the Goliath large format
batteries designed for EV cars and cordless appliances.

 

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