Business
Grant funding from Faraday Battery Challenge
Grant funding from Faraday Battery Challenge.
About this update from Ilika Plc
[{"type":"text","content":"\n \nRNS Number : 1479R Ilika plc 12 June 2018 \n\nIlika plc\n(\"Ilika\" or the \"Company\")\n \nGrant funding from Faraday Battery Challenge\n \nIlika (AIM: IKA), a pioneer in solid-state battery technology and materials innovation, has received an offer of significant grant funding, through the Faraday Battery Challenge Programme, as announced today by the Business Secretary, Greg Clark*. \n \nThe Company is the lead partner in the PowerDrive Line project, which is one of 12 innovation projects that have been allocated a total of £22m of grant funding from the government's Faraday Battery Challenge programme. The Faraday Battery Challenge is part of the government's Industrial Strategy Challenge Fund, which brings together world-leading research with businesses to take on the major societal and economic challenges of our time.\n \nThe PowerDrive Line project underpins the recently announced extension of the Company's Stereax® solid-state battery roadmap to develop large format cells for the next generation of safer, high-power electric car batteries. In particular, the project will develop a process for manufacturing the batteries at scale and technology for ultra-fast charging. Ilika will establish a pre-pilot line for high power solid-state cells as well as developing the materials supply chain. \n \nFurther details of the funding, programme timescale and consortium partners will be provided once the contracts have been completed. \n \n*https://www.gov.uk/government/news/green-light-for-ultra-fast-electric-car-charging-innovation\n \n\n\n\n\nFor more information contact:\n \nIlika plc \n\n\nwww.ilika.com\n\n\n\n\nGraeme Purdy, Chief Executive\n\n\nTel: 023 8011 1400\n\n\n\n\nSteve Boydell, Finance Director\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nLiberum Capital Limited\n\n\nTel: 020 3100 2000\n\n\n\n\nNeil Elliot, Jill Li, William Hall\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nWalbrook PR Ltd \n\n\nTel: 020 7933 8780 / [email protected]\n\n\n\n\nPaul Cornelius \n\n\nMob: 07866 384 707\n\n\n\n\nLianne Cawthorne \n\n\nMob: 07584 391 303\n\n\n\n\n \n\n\n \n \n \nNote:\nThe information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (\"MAR\"). Upon the publication of this announcemen...