REG - Ilika plc - Trading Update & Notice of Results

IlikaAnnouncement

22/05/2023 07:00

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RNS Number : 0937A  Ilika plc  22 May 2023

 

Ilika plc

("Ilika" or the "Company")

 

Trading Update & Notice of Results

 

Analyst and Investor presentations

 

Ilika (AIM: IKA), a pioneer in solid-state battery technology, provides an
update on trading, Stereax® manufacturing, and Goliath product development,
as well as issuing its notice of full year results for the year ended 30 April
2023.

 

Trading Update for FY23

Unaudited trading for the year ended 30 April 2023 has been in line with
management expectations. The Company expects to announce revenues of
approximately £0.8m (2022: £0.5m), and an EBITDA loss excluding
share-based payments of approximately  £7.0m (2022: EBITDA loss
of £6.4m). Cash and cash equivalents at the period end were £15.8m (30
April 2022: £23.4m).

 

Stereax ( )Manufacturing Update

Following initial process qualification at its Stereax manufacturing facility
in the UK, Ilika has been improving process yield and qualifying initial
product batches. This enabled Ilika to release its first customer shipment of
Stereax M50 cells in April 2023. The M50 cells can be used individually, but
they are also the building blocks for Ilika's M300 batteries, which are made
from six M50 cells connected in parallel. Ilika shipped its first batch of
M300 batteries to customers earlier this month.

 

Ilika has 23 commercial orders from 20 customers, with miniature medical
devices making up the majority of the demand. The applications cover 11 active
implantable medical devices, three smart dental devices, two smart lenses, one
for aerospace and three others.

 

Further to Ilika's announcement in January 2023, Ilika and Cirtec Medical LLC
('Cirtec'), a strategic outsourcing partner of complex medical devices
including minimally invasive and active implantable devices, are currently
finalising the terms of their intended partnership. Ilika and Cirtec have
signed a memorandum of understanding ('MOU') which outlines the transfer of
Stereax® mm-scale battery manufacturing to Cirtec's facility in Lowell,
Massachusetts, U.S. Following the transfer, Ilika will focus on advanced
technology development and IP licensing in support of Cirtec's manufacturing
and commercialisation activities.

 

Goliath Progress Update

Product development of Goliath, Ilika's large format battery for electric
vehicles and consumer appliances, has continued to progress to schedule.
Building on the significant improvement achieved in energy density (providing
the potential for lighter weight battery packs) in the first half of the year,
Ilika has focussed on increasing cycle life.

 

In parallel, Ilika has continued carrying out scale-up studies with partners
to ensure its process is as compatible as possible with existing Gigafactory
assets. In particular, Ilika has completed an equipment design study with
Comau, an economic feasibility study with the UK Battery Industrialisation
Centre (UKBIC) and is currently executing a series of trials on
production-ready equipment.

 

Ilika continues to explore opportunities for closer collaboration with
strategic partners interested in aligning their product roadmaps with Goliath.
In February 2023, Ilika commenced leading a 24-month £8.2 million Faraday
Battery Challenge collaboration programme to integrate high silicon content
electrodes into its Goliath solid-state batteries to enable automotive level
performance. The programme is supported by BMW and Williams Advanced
Engineering.

 

Notice of Results

Ilika expects to announce its audited full year results for the year ended 30
April 2023 on Thursday 13 July 2023.

 

Analyst Briefing

The management team will be hosting an in-person analyst briefing on the day,
Thursday 13 July 2023, at 9.30am. Analysts who wish to attend should contact
Lianne Applegarth at Walbrook PR on +44(0)20 7933 8780 or
email ilika@walbrookpr.com (mailto:ilika@walbrookpr.com)  to register.

 

Investor Presentation

An investor presentation will be held on the day, Thursday 13 July 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 to
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=)
or for more information please contact Walbrook PR at ilika@walbrookpr.com.

 

For more information contact:

 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,
 William Hall, Nikhil Varghese

 Joh. Berenberg, Gossler & Co. KG (Joint Broker)         Tel: 020 3207 8700
 Matthew Armitt, Mark Whitmore, Detlir Elezi,
 Mara Grasso

 Walbrook PR Ltd             Tel: 020 7933 8780 / Ilika@walbrookpr.com
 Lianne Applegarth                                       Mob: 07584 391 303
 Nick Rome                                               Mob: 07748 325 236
 Tom Cooper                                              Mob: 07971 221 972

 

About Ilika plc

Ilika specialises in the development of solid-state batteries. Its Stereax®
product line is designed for miniature medical devices and specialist internet
of Things (IoT) applications. Stereax® enables disruptive product designers
looking for an intrinsically safe, long life (1000s recharges), low leakage
(nA) and miniature power source in a rectangular form factor similar to ICs.
For more information about Ilika, please visit:  https://www.ilika.com
(https://www.ilika.com) .

 

 

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