REG - Ilika plc - Trading Update, Notice of Results & Presentations

IlikaAnnouncement

24/11/2023 07:00

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RNS Number : 5202U  Ilika plc  24 November 2023

 

Ilika plc

("Ilika", the "Group". or the "Company")

 

Trading Update & Notice of Half-Year Results

 

Analyst and Investor Presentations

 

Ilika (AIM: IKA), a pioneer in solid-state battery technology, provides an
update on trading and notice of results for the six months ended 31 October
2023 (the "Period").

 

Operating Highlights:

 

Stereax(Ò)

In the first half of the current financial year Ilika continued to develop the
scale and potential reach of its Stereax business. The Period started with
shipments of stacked M300 batteries from its UK manufacturing facility - being
the first of a series of planned deliveries to customers.

 

The licencing and royalty agreement with US-headquartered Cirtec Medical
("Cirtec"), which was signed in August 2023, was a key milestone for the
Group, enabling the transfer of Stereax production to Cirtec's manufacturing
facility in Lowell, MA.

 

Ilika has now completed the despatch of the key equipment required to
manufacture Stereax batteries to Cirtec, with the exception of the cathode
manufacturing process which will initially remain with Ilika in the UK. Cirtec
is currently expanding its cleanroom capacity in Lowell to accommodate growth
in its business, including Stereax manufacturing. Ilika and Cirtec continue to
work closely with a portfolio of 20 customers to support their development
plans and launch schedules.

 

Goliath Programme

Ilika's Goliath programme also progressed strongly during the Period -
especially from the perspective of improving technical parameters and
implementing its production scale-up plans. Based on the performance of recent
prototypes, the Company confirmed the achievement of its D4 technical
milestone and remains firmly on track to achieve lithium-ion energy density
parity by the end of 2023, in-line with guidance set out in November 2022.

 

The development efforts are supported by the Faraday Battery Challenge
24-month, £8.2m grant-funded HISTORY project, steered with input from BMW and
WAE (Williams Advanced Engineering), to integrate high silicon content
electrodes into Goliath. In parallel, Ilika has been trialling
production-intent equipment at vendor sites and its pilot facility in the UK.
Since October 2023, this scale-up work has been supported by the Automotive
Transformation Fund 16-month, £2.7m grant-supported SiSTEM project, in which
Ilika is collaborating with Mpac plc and UK Battery Industrialisation Centre
(UKBIC). Ilika continues to interact closely with many of the global
automotive OEMs, with a view to sharing Goliath P1 prototypes for their
evaluation in H1 CY 2024, as a precursor to large-scale manufacturing through
licensing.

 

Financial Highlights:

 

The Company expects to announce revenue of £1.3m (H1 2023: £0.2m) as a
result of increased grant funding received during the Period through the
HISTORY programme and the newly announced SiSTEM grant. This positive income
position is not expected to be mirrored in the second half of the financial
year due to phasing of the grant activity. EBITDA loss, excluding share-based
payments, of £1.9m (H1 2023: loss of £4.1m) for the six months ended 31
October 2023, reflects the higher income and cost reduction resulting from the
technology transfer of Stereax production to Cirtec. Cash and cash equivalents
at the period end were £13.2m (H1 2023: £18.6m).

 

Notice of Results:

 

Ilika expects to announce half-year results for the six months ended 31
October 2023 on Tuesday 23 January 2024.

 

Analyst Briefing

The management team will be hosting a hybrid analyst briefing on the day, 23
January 2024, at 9.30am. Analysts who wish to attend should contact Nick Rome
at Walbrook PR on +44(0)20 7933 8780 or email ilika@walbrookpr.com to
register.

 

Investor Presentation

An investor presentation will be held on the day, 23 January 2023, at 4.30pm
and will be hosted through the digital platform, Investor Meet
Company. Investors can sign up to Investor Meet Company for free and add meet
Ilika plc via the following link:
https://www.investormeetcompany.com/ilika-plc/register-investor
(https://urldefense.proofpoint.com/v2/url?u=https-3A__www.investormeetcompany.com_ilika-2Dplc_register-2Dinvestor&d=DwMFAg&c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&r=1OI9eWQUVfVpxZXWzxX2tPcSAmxw5YMa3-DImHWnbkA&m=22nIVAzynQ78VnYQ8pNvYLoiaC3r3JGnA0Gjs0X1HfI&s=GFcaJdt_WBmGcV6u2cZxJzgNoqqkh-ky8V45ELknGH8&e=)
 . For more information, please contact Walbrook PR
at ilika@walbrookpr.com.

 

For more information contact:

 

 Ilika plc                                               www.ilika.com (http://www.ilika.com/)
 Graeme Purdy, Chief Executive                           Via Walbrook PR

 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
 Nick Rome                                               Mob: 07748 325 236
 Charlotte Edgar                                                       Mob: 07884 664 686
 Joe Walker                                              Mob: 0740 702 0470

 

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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