Business
Trading Update & Notice of Half-year Results
Trading Update & Notice of Half-year Results.
About this update from Ilika Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 8885S\n Ilika plc\n 19 November 2021\n \n \n \n \n Ilika plc\n \n \n (\"Ilika\" or the \"Company\")\n \n \n \n \n \n Trading Update\n \n \n & Notice of Half-year Results\n \n \n \n \n \n Analyst and investor presentations\n \n \n \n \n \n Ilika (AIM: IKA), a pioneer in solid-state battery technology, provides an update on trading for the six months ended 31 October 2021.\n \n \n \n \n \n Operating Highlights\n \n \n \n \n \n Goliath Programme\n \n \n The Company successfully concluded an equity placing in July 2021 to fund the development and scale up of the Company's Goliath large format solid-state battery technology. This funding will be used to develop the technology through Li-ion equivalence by the end 2022 and to increase the throughput of the Goliath pilot line in Romsey from 1 kWh/week to 10 kWh/week in 2023. Beyond that, once cell manufacturing readiness is achieved in 2024, Ilika will transfer production to a mega-scale facility such as the UK-BIC, with which it has a framework agreement, before moving to Giga-scale through a JV or licensing.\n \n \n \n \n \n The Company's initial collaborations with its Faraday Battery Challenge partners including Honda, JLR and McLaren, have been completed. Work continues with Comau in a programme funded by the APC (Advanced Propulsion Centre) to design the Goliath mega-scale facility. Discussions are also progressing with other supply chain partners to support materials supply and cell manufacturing scale-up implementation.\n \n \n \n \n \n \n Stereax\n \n \n \n Ò\n \n \n \n \n The Company has made significant progress in implementing its manufacturing scale-up plans for Stereax\n \n Ò\n \n , Ilika's miniature solid-state batteries designed for industrial wireless sensors in hostile environments and medical implants. Outfitting of the fabrication facility (FAB) has been successfully completed and the key tools have been commissioned for its proprietary cell manufacturing process. In line with previous guidance, process qualification is expected to take until the end of 2021, with product qualification starting in Q1 2022. Product sales, which are expected to commence in Q2 2022, will be ramped up to match demand from a portfolio of customer new product development (NPD) programmes, with an initia...