Business
Half Yearly Report
Half Yearly Report.
About this update from Ilika Plc
[{"type":"text","content":"\n \nRNS Number : 5042L Ilika plc 12 January 2016 \n\n \nIlika plc \n('Ilika,' the 'Company,' or the 'Group')\n \nHalf Yearly Report\n \nIlika (AIM: IKA), the accelerated materials innovation company, announces its unaudited half yearly report for the six months ended 31 October 2015. The period has seen continued progress with its solid-state battery development programme, a strengthening of its IP portfolio and constructive discussions with its commercial partners.\n \nIlika accelerates the discovery of new and patentable materials using its patented high throughput technologies process for identified end uses in the energy, electronics, and aerospace sectors. Its flagship programme is the development of unique solid-state batteries. \n \nOperational Highlights\n· Data from working prototype batteries shared with potential OEM partners\n· Alignment and agreement of battery capability with OEM partners, enabling definition of a roadmap of specific battery architectures\n· Patent granted in China for Ilika's proprietary process to produce solid-state batteries\n· UK Grant Award of £470k to take a lead role in £2.15m collaborative programme to develop self-healing alloys for aerospace applications\n· European Patent Office upheld Ilika's opposition to a fuel cell catalyst patent from Brookhaven Science Associates (BSA)\n· Mike Inglis, former board member and executive of ARM, appointed as Non-Executive Chairman \n \nFinancial Summary\n· Total revenue for the period of £0.3m (1H 2014: £0.6m)\n· Loss per share of 3p (1H 2014: 2p per share)\n· Net cash outflow in the period of £1.5m (1H 2014: inflow £0.1m)\n· Net Cash at period end of £4.5m (1H 2014: £7.2m)\n \nAs previously announced, during the first half of the year, the Group committed an increasing proportion of its operational resource to the internally funded battery development programme, intended to drive the growth of the business over the coming years. As a consequence, the Group has generated lower revenue and profit from customers than in the prior year. \n \nCommenting on the result...