REG - Ilika plc - Stereax Equipment Commissioning Completed

IlikaAnnouncement

09/01/2025 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250109:nRSI6379Sa&default-theme=true

RNS Number : 6379S  Ilika plc  09 January 2025

 

9 January 2025

Ilika plc

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

 

Stereax Micro-battery Manufacturing Equipment Commissioning Completed at
Cirtec Medical's Facilities; Production of Batteries for Process Qualification
Commenced

 

Ilika (AIM: IKA), an independent global expert in solid state battery
technology, announces that the production of Stereax batteries for process
qualification has now commenced.

 

In July 2024, Ilika confirmed that installation of its key equipment had been
substantially completed in Cirtec Medical's facility in Lowell, MA, USA. Ilika
can now confirm its equipment has been commissioned and successfully passed
its User Acceptance Tests (UATs). These production tools include layer
deposition machines as well as alignment and patterning machines. This final
stage in the commissioning of Stereax new manufacturing facilities means that
both Cirtec and Ilika are now satisfied that the equipment meets its
requirement for the start of production transfer.

 

To support equipment commissioning, since June 2024, Ilika has delivered a
series of batches of cathode-coated wafers to Cirtec, for further processing
and verification of subsequent process steps. Process qualification has the
aim of refining and tuning the process equipment to achieve specified product
performance in preparation for the start of product manufacturing. Ilika
currently retains and will operate part of the production equipment in the UK,
including that for cathode deposition and cell formation and testing.

 

In August 2023, Ilika and Cirtec Medical announced that they had concluded
contractual negotiations by signing a ten-year manufacturing licence to
produce the Stereax range of mm-scale batteries at Cirtec's facility in
Lowell. This partnership will reinforce Cirtec's ongoing activities in system
level miniaturisation for the medical device industry, whilst Ilika will focus
on advanced technology development and IP licensing in support of Cirtec's
manufacturing and commercialisation activities.

 

Graeme Purdy, Ilika Chief Executive Officer, said: "We are delighted to
announce that Stereax is now one step closer towards starting production and
enabling its deployment into miniature active medical devices. We thank Cirtec
and Ilika colleagues for their effort into completing the transfer of Stereax
production equipment to the Lowell facilities."

 

Brian Highley, Cirtec Medical Chief Executive Officer, said: "This marks a
pivotal achievement in the collaboration between Ilika, a leader in advanced
miniaturised solid state battery technology, and Cirtec, renowned developing
and manufacturing implantable medical devices and complex catheters and
delivery systems. By leveraging our combined expertise, the Stereax battery
integrates high-energy density with reliable durability and long battery life,
offering enhanced efficiency and miniaturisation for a variety of medical
applications."

 

 

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 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.

 

About Cirtec Medical

 

Cirtec Medical is a vertically integrated, full-service outsource partner
providing end-to-end product design, development and manufacturing of Class
III and II medical devices and components. Cirtec specialise in today's most
advanced product technologies including, neuromodulation, implantable drug
delivery, cardiac rhythm management, ventricular assist and minimally invasive
systems including TAVR/TMVR. Cirtec has a global footprint with facilities in
Brooklyn Park, MN; Chandler, AZ; Enfield, CT; San Jose CA, Lowell, MA, Coyal
Free Zone, Costa Rica and Birkenfeld, Germany.

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  MSCBPMFTMTBMBTA