REG - Ilika plc - Goliath Scale-up Progress

IlikaAnnouncement

05/02/2025 07:00

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RNS Number : 9190V  Ilika plc  05 February 2025

5 February 2025

Ilika plc

('Ilika,' the 'Company,' or the 'Group')

 

Goliath Scale-up Progress

 

Key Scale-up Result from Collaboration with UKBIC

 

Ilika (AIM: IKA), the UK pioneer in solid-state battery technology, announces
that its collaboration with the UK Battery Industrialisation Centre (UKBIC)
has successfully demonstrated its ability to scale key steps in the
manufacturing of its Goliath battery, which is expected to reduce costs,
increase the range of electric vehicles and reduce their charging time.

 

This successful demonstration of manufacturing in a giga-scale factory
setting, using industry standard equipment, marks another step towards
commercialisation and follows progress in 2024 including the start of
commercial testing, shipping of the first batch of prototype Goliath batteries
to customers, and the release of validated safety data.

 

Graeme Purdy, CEO of Ilika, said: "We are delighted with the teamwork at
UKBIC, which has delivered an excellent outcome, demonstrating the large scale
preparation of Goliath electrolyte and the coating of our composite
electrode-electrolyte. We look forward to further collaboration on our
commercialisation journey and welcome the UK government's recent announcement
of £2B of funding which will catalyse faster progress in this space."

 

Sean Gilgunn, Managing Director of UKBIC, said:

"This success highlights the valuable contribution UKBIC can make to scaling
up innovation in the UK's growing battery sector. Ilika's technology is a
great example of the kind of cutting edge thinking which can drive the UK
economy when properly supported."

 

Ilika announced in October 2023 receipt of grant support from the Automotive
Transformation Fund ('ATF') in an 18-month, £2.7 million collaboration
programme to scale up Ilika's Goliath solid-state battery production
capability. Via the programme, Ilika partnered with Mpac Group plc ('Mpac')
(AIM: MPAC) global supplier of packaging and assembly automation, UKBIC and
Agratas, Tata Group's global battery business.

 

In this collaboration, codenamed Project SiSTEM, UKBIC and Ilika have carried
out physical trials to demonstrate preparation and roll-to-roll coating of its
proprietary solid state materials. The ongoing trials are providing evidence
that Ilika's approach to large format solid-state battery manufacture can be
carried out with the types of mixing and coating equipment widely used in
existing gigafactories.

 

The programme activities with Mpac and Agratas are also making strong progress
and remain on track. Ilika is working closely with Mpac on completing the
fabrication and testing of a 1.5MWh solid-state battery assembly line capable
of delivering Ilika's Goliath prototype large-format pouch cells to automotive
original equipment manufacturers and Tier 1 suppliers. As stated in October
2023, the solid-state battery assembly line is expected to be fully
operational at Ilika's facility by the end of H1 2025. In parallel, the
activities with Agratas have produced a detailed gap analysis between
Agratas's leading edge lithium-ion battery process and Ilika's process with
the key result that the solid-state battery application would cause minimum
disruption.

 

ENDS

 

--

Enquiries:

 

 Ilika Plc                                             www.ilika.com (http://www.ilika.com/)
 Graeme Purdy, Chief Executive

                                                     Via FTI Consulting
 Jason Stewart, Chief Financial Officer

 Cavendish Capital Markets Limited (Nomad and Broker)  +44 (0)131 220 9772
 Peter Lynch

                                                     +44 (0)131 220 9771
 Neil McDonald

 FTI Consulting (Comms Advisors)                       ilika@fticonsulting.com

 Ben Brewerton

 Elizabeth Adams

 Dwight Burden

 

 

About Ilika plc - https://www.ilika.com (https://www.ilika.com/)

 

Ilika is a global expert in the development of solid state battery technology
for electric vehicles, medical devices and consumer appliances. The Company's
pioneering next-generation technologies aim to provide scalable, affordable
alternatives to conventional batteries, to industries which need to
incorporate a smaller, lighter, and safer power source in their products.

 

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

 

Through its licensing business model, Ilika supplies its IP portfolio to both
OEMs and manufacturing partners in exchange for a license fee and future
royalties.

 

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