REG - Ilika plc - Goliath Scale-up Update

IlikaAnnouncement

04/05/2022 07:00

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RNS Number : 1690K  Ilika plc  04 May 2022

Ilika plc

("Ilika" or the "Company")

 

Goliath Scale-up Update

Scale-up plans validated - highlighting cost-saving benefits at higher volume
production levels

Ilika (AIM: IKA), a pioneer in solid-state battery technology, announces the
successful conclusion of its scale-up study, SOLSTICE, with partner Comau,
part of Stellantis, and a world leader in the industrial automation field. The
study reviewed Ilika's existing Goliath pre pilot line and delivered a plant
design for a Goliath manufacturing line at a mega-scale facility (the
"Project"). As reported by the company on 6th April 2021, the 12-month Project
was supported by the Advanced Propulsion Centre (APC) and Ilika received a
£276,000 grant towards costs related to the Project.

The Project had two objectives, firstly a review and subsequent validation of
Ilika's internal plan to scale up its facility from a production capacity of
50kWh per year to 2MWh per year. Following on from the review, Ilika has a
detailed facility and equipment plan and has entered into discussions with
equipment vendors, with the first long lead time equipment orders expected to
be placed in Q2 2022. Ilika's 2MWh scale up will deliver and commission a
fully operational facility by Q4 2023. In the meantime, the development of
Ilika's Goliath solid-state battery technology continues in accordance with
the Company's technology roadmap.

The second objective of the Project was an initial review of Ilika's defined
manufacturing process to assess its suitability for megawatt scale up. The
Project concluded there were no cost or technical barriers to scale up, and
indeed important manufacturing benefits were identified, such as an
accelerated formation stage relative to traditional lithium-ion, which has the
potential to significantly reduce formation times. Comau has produced a
high-level costed plant design for the megawatt scale solid-state
manufacturing line which will be further refined in future planned
collaborations.

Automotive Transformation Director at the APC, Julian Hetherington said: "The
UK has a long legacy of automotive manufacturing success and the industry now
needs to scale up, at pace, to net-zero emission technologies. We are
delighted that the funding awarded to Ilika and Comau through the Automotive
Transformation Fund has successfully supported collaborative product and
manufacturing process development that can unlock routes to subsequent
investment in scaled- up facilities."

John Coombes, managing Director of Comau UK stated: "This project represented
an integral part of the Comau Journey in Electrification, developed with the
contribution of the internal Battery Cells Global Competence Center. We are
proud of the collaboration we have had with Ilika and the APC, and also the
ability to demonstrate the value our capabilities can contribute in this
field. "

Graeme Purdy, Ilika CEO, stated: "This project has successfully validated
Ilika's scale-up plans for its Goliath technology, highlighting some important
cost-saving benefits at higher volume production levels which pave the way to
gigawatt scale manufacturing. Working with Comau, one of the world's leading
designers of innovative engineering solutions, has delivered a robust plan to
scale-up Ilika's manufacturing capability for Goliath solid-state batteries to
the next level."

 

For more information contact:

 Ilika plc                         +44 (0)23 8011 1400

 Graeme Purdy, Chief Executive

 Steve Boydell, Finance Director

 Liberum Capital Limited           +44 (0) 20 3100 2000

 Andrew Godber, Cameron Duncan,

 William Hall, Nikhil Varghese

 Berenberg (Joint Broker)          +44 (0) 20 3207 8700

 Emily Morris, Detlir Elezi,

 Milo Bonser, Mara Grasso

 Walbrook PR Ltd                   +44 (0)20 7933 8780 or ilika@walbrookpr.com (mailto:ilika@walbrookpr.com)
 Lianne Applegarth                 Mob: +44 (0)7584 391 303
 Nick Rome                         Mob: +44 (0)7748 325 236
 Tom Cooper                        Mob: +44 (0)7971 221 972

 

 

 

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