REG - Ilika plc - Goliath Scale-up Update

IlikaAnnouncement

20/06/2022 07:00

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RNS Number : 3496P  Ilika plc  20 June 2022

 Ilika plc

("Ilika" or the "Company")

 

Goliath Scale-up Update

 

Economic Assessment Commences on Integrating a 100 MWh Solid-State Battery
Manufacturing Line at the UK Battery Industrialisation Centre

 

Ilika (AIM: IKA), a pioneer in solid-state battery (SSB) technology, announces
it has started a six-month economic feasibility study in partnership with the
UK Battery Industrialisation Centre (UKBIC) to understand what is required to
create a dedicated 100 MWh SSB manufacturing line within the UKBIC facilities.

 

The Ilika-led collaborative project is supported by the Advanced Propulsion
Centre (APC) through its Automotive Transformation Fund (ATF) which aims to
clarify the way forward for industrialisation of solid-state batteries in the
UK. Ilika will receive a £105,000 grant towards its related costs over the
six-month project, which commenced on 1 May 2022.

 

The project follows the recent successful APC-funded SOLSTICE project between
Ilika and Comau, part of Stellantis, which concluded that there were no
barriers to scaling-up Ilika's Goliath solid-state battery technology for
electric vehicles and delivered a plant design for a megascale manufacturing
facility. The project with the UK battery manufacturing development facility
will now look at the cost implications of placing a megascale solid-state
battery line at UKBIC to enable Ilika's Goliath electric vehicle batteries to
be manufactured at scale.

 

If feasible, and in the best interests of UKBIC and Ilika, this line would
support Ilika's OEM customers' validation and testing programmes, and would
follow Ilika's current plan to scale its pre-pilot line production capacity
from 50 kWh per year to 2 MWh per year.

 

UKBIC is a publicly-funded battery product development facility in Coventry,
in the West Midlands, which welcomes manufacturers, entrepreneurs, researchers
and educators. Support from UKBIC can be accessed by any organisation with
existing or new battery technology so long as that technology brings 'green
jobs' and prosperity to the UK.

 

Ian Constance, Chief Executive of the APC, said: "We're really interested to
see the outcomes of Ilika's feasibility study. To fully decarbonise the
automotive sector we have to transition the EV supply chain at scale and pace
and this study will explore opportunities for the UK to rapidly grow
manufacturing in some of the most globally advanced and in-demand vehicle
technologies, which in turn will lead to highly-skilled jobs and green
growth."

 

Jeff Pratt, UKBIC's Managing Director, commented: "This feasibility study with
Ilika has the potential to lead to a dedicated solid-state line being built at
UKBIC. With demand for electrification increasing, it's important that there
are a wide range of technologies available, for now, the mid-term and the
long-term future. We're excited to find out what the future holds for
solid-state batteries, a potentially game changing battery technology for the
UK."

 

Graeme Purdy, Ilika CEO, stated: "This project represents the next logical
step in Ilika's scale-up plans for its Goliath technology, building on
important work in our earlier programmes. Ilika and UKBIC entered into a
Framework Agreement at the end of 2020 on the basis that when the time was
right, we would assess the feasibility of placing an Ilika megascale
Solid-State Battery line at the UKBIC facility, utilising the expertise and
existing equipment alongside the bespoke solid-state battery equipment
identified in the SOLSTICE programme. The time is now right: the scale up of
Ilika's manufacturing capability for Goliath solid-state batteries has gained
strong momentum as we accelerate towards delivering the batteries to the
automotive markets."

 

 

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

 Joh. Berenberg, Gossler & Co. KG (Joint Broker)                    +44 (0) 20 3207 8700

 Emily Morris, Detlir Elezi, Milo Bonser

 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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