Ilika (IKA)

Sector:

Electronic and Electrical Equipment

Index:

FTSE AIM All-Share

27.90p
   
  • Change Today:
    -0.100p
  • 52 Week High: 60.00
  • 52 Week Low: 27.00
  • Currency: UK Pounds
  • Shares Issued: 158.98m
  • Volume: 262,368
  • Market Cap: £44.35m

Ilika signs agreement with UK Battery Industrialisation Centre

By Josh White

Date: Wednesday 23 Sep 2020

LONDON (ShareCast) - (Sharecast News) - Solid-state battery technology company Ilika announced the signing of a framework agreement with the UK Battery Industrialisation Centre (UKBIC) on Wednesday, for the production of 'Goliath' solid-state pouch cells.
The AIM-traded firm said the agreement would support the scale-up of its production of large-format solid-state lithium-ion cell technology, which it said had the potential to "transform" the performance and safety of domestic appliances, as well as electric vehicles.

Currently operating from a pre-pilot production line capable of producing 1kWh per week, Ilika said it had plans to scale-up its current site in Romsey to an automated facility producing 10kWh per week by 2022.

The next stage of scale-up would involve it reaching 5MWh per week to satisfy increasing customer demand.

It said the signing of the framework agreement with UKBIC was a "significant and important" step towards achieving its goal.

Ilika explained that solid-state technology was required to achieve the continuous performance improvements expected by industry and consumers.

Faster charging times, higher energy density and longer lifetimes were all benefits expected to be delivered by the transition to solid-state.

Many companies involved in the manufacture of cordless domestic appliances were demanding performance exceeding the capability of traditional lithium-ion technology, the board claimed.

In the automotive sector, Ilika was collaborating on three projects, supported by more than £5m of grant funding from the UK government's Faraday Battery Challenge, which is managed by Innovate UK.

UKBIC is a publicly-funded battery product development facility in Coventry, with support accessible by any organisation with existing or new battery technology, so long it brought "green jobs and prosperity" to the UK.

"Our Goliath programme is perfectly aligned with the UK's industrial strategy, and we intend to work closely with the UK Battery Industrialisation Centre to scale up our technology for market introduction in the most agile manner possible," said chief executive officer Graeme Purdy.

At 1113 BST, shares in Ilika were up 8.64% at 88p.

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Ilika Market Data

Currency UK Pounds
Share Price 27.90p
Change Today -0.100p
% Change -0.36 %
52 Week High 60.00
52 Week Low 27.00
Volume 262,368
Shares Issued 158.98m
Market Cap £44.35m

Ilika Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
29.18% below the market average29.18% below the market average29.18% below the market average29.18% below the market average29.18% below the market average
47.06% above the sector average47.06% above the sector average47.06% above the sector average47.06% above the sector average47.06% above the sector average
Price Trend
64.34% below the market average64.34% below the market average64.34% below the market average64.34% below the market average64.34% below the market average
48.72% below the sector average48.72% below the sector average48.72% below the sector average48.72% below the sector average48.72% below the sector average
Income Not Available
Growth
64.26% below the market average64.26% below the market average64.26% below the market average64.26% below the market average64.26% below the market average
52.94% below the sector average52.94% below the sector average52.94% below the sector average52.94% below the sector average52.94% below the sector average

What The Brokers Say

Strong Buy 2
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 2
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Ilika Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
16:35 30,927 @ 27.90p
16:35 6,000 @ 27.90p
16:35 14,018 @ 27.90p
16:35 195 @ 27.90p
16:35 714 @ 27.90p

Ilika Key Personnel

CEO Graeme Purdy
Chair Keith Jackson

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