Ilika plc Award of Grant Funding for Goliath (8814N)
26 January 2023 - 6:00PM
UK Regulatory
TIDMIKA
RNS Number : 8814N
Ilika plc
26 January 2023
Ilika plc
("Ilika" or the "Company")
Award of Grant Funding for Goliath
Further funding secured from Faraday Battery Challenge,
supported by BMW and Williams Advanced Engineering and partnered
with Nexeon
Ilika (AIM: IKA), a pioneer in solid-state battery (SSB)
technology, announces it is leading a 24-month GBP8.2 million
Faraday Battery Challenge collaboration programme to integrate high
silicon content electrodes into its Goliath solid-state batteries
('SSB') to enable automotive level performance. Ilika will receive
a grant of GBP2.8 million over the 24-month programme, Project
HISTORY, which will commence on 1 February 2023.
BMW Group ('BMW') and Williams Advanced Engineering ('WAE') will
join the programme's steering committee. Ilika will partner with
Nexeon, one of the UK's leading manufacturers of battery materials,
and experts from four of the UK's top academic Universities and
Catapult to deliver an automotive industry-defined SSB by programme
end. Alongside, Ilika will be working with manufacturing
consultants HSSMI to deliver an SSB Life Cycle Analysis (LCA).
The UK Government-backed Faraday Battery Challenge aims to
support a world-class scientific, technology development and
manufacturing scale-up capability for batteries in the UK. The
Challenge is focused on developing cost-effective,
high-performance, durable, safe and recyclable batteries to capture
a growing market.
Project HISTORY follows on from Ilika's previous successful
Faraday Battery Challenge programmes which supported the
development of the Goliath SSB baseline cell and the construction
of Ilika's pre-pilot line. Since those initial developments, Ilika
has been working with industry specialists on scale-up activities
in line with its industrialisation programme and expects to deliver
prototype automotive A sample SSB's from its scaled pilot
facility.
Graeme Purdy, Ilika CEO, stated: "Project HISTORY supports the
continuation of the technology development work Ilika has been
undertaking since the completion of its previous Faraday Battery
Challenge programmes. It also builds on work supported by the
Faraday Institution and the Advanced Propulsion Centre. It will see
the delivery of an automotive cell, defined by the industry as a
minimum viable product, to enable us to move quickly into an
industrial SSB pack and Battery Management System programme. This
is an exceptionally strong consortium with first class expertise
and world-renowned industrial experience and will ensure the UK
continues to develop technology for the rapidly emerging SSB
market."
Tony Harper, Challenge Director for the Faraday Battery
Challenge said: "Solid-state batteries have the potential to
revolutionise the way electric vehicles are powered. The consortium
Ilika is leading is an outstanding combination of UK capabilities
designed to drive forward the development of a multi-layer,
solid-state pouch cell to deliver the next big step in the safety
and performance of EV batteries. I look forward to seeing how their
technology develops over the course of the project."
Georg Steinhoff, Head of R&D at BMW Group said "At BMW Group
we have more than 13 years of automotive Battery cell development
experience. Our Battery cell technology know-how is a key success
factor in our electrification strategy, as it defines both
operational performance as well as vehicle cost. The development of
all solid-state batteries is an important and promising long term
goal, to make future battery-electric vehicles even more
sustainable and efficient. We are delighted to be part of Project
HISTORY and to see the next developments in Ilika's solid-state
battery technology. "
Rob Millar, Head of Electrical at Williams Advance Engineering
(WAE) said " WAE will be working with Ilika and the HISTORY
consortium with the objective of further developing Ilika's
solid-state Goliath pouch cells. WAE remains focused on retaining
its leadership position in Applied Battery Technology and by
working with companies such as Ilika, sees the benefit of gaining
valuable insight into solid-state technology and its application in
modules and packs. We look forward to a long and mutually
beneficial relationship."
The information contained within this announcement is deemed by
the Company to constitute inside information for the purposes of
Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations
2019/310. Upon the publication of this announcement via a
Regulatory Information Service ("RIS"), this inside information is
now considered to be in the public domain.
For more information contact:
Ilika plc www.ilika.com
Graeme Purdy, Chief Executive Via Walbrook PR
Jason Stewart, Chief Financial Officer
Liberum Capital Limited (Nomad Tel: 020 3100 2000
and Joint Broker)
Andrew Godber,
William Hall, Nikhil Varghese
Joh. Berenberg, Gossler & Co. KG Tel: 020 3207 8700
(Joint Broker)
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
About Ilika plc
Ilika specializes in the development of solid-state batteries.
Its Stereax product line is designed for miniature medical implants
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.
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 or visit 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.
END
MSCSELFWIEDSESF
(END) Dow Jones Newswires
January 26, 2023 02:00 ET (07:00 GMT)
Ilika (AQSE:IKA.GB)
Historical Stock Chart
From Dec 2024 to Dec 2024
Ilika (AQSE:IKA.GB)
Historical Stock Chart
From Dec 2023 to Dec 2024
