Ilika Plc · LSE:IKA
Ilika — Q4 2024 Earnings Presentation
28 slides from Ilika's earnings presentation, Jul 11, 2024
Slide 1: Ilika Annual Results July 2024
Ilika Annual Results July 2024
Slide 2: Disclaimer
Disclaimer The materials being provided to you in connection with this presentation are strictly confidential and intended only for informational purposes and convenient reference. This document has been prepared by Ilika plc (“Ilika”) and is the responsibility of the same and comprises the written
Slide 3: Ilika at a Glance
Ilika at a Glance Pioneer in Solid State Batteries (SSB) Stereax miniature cells used primarily Goliath large format cells targeting to power miniature medical devices the automotive industry and cordless and industrial IoT 2004 $280Bn consumer appliances Company TAM for Founded Automotive in Southa
Slide 4: Seasoned Management Team
Seasoned Management Team Board and Management Team Offers a Wealth of Diversified Experience Across Multiple Industries Graeme Purdy Jason Stewart Keith Jackson Jeremy Millard Monika Biddulph Louise Turner John Tinson Chief Executive Officer & Chief Financial Officer Chairman Non-Executive Director
Slide 5: Ilika Business Model
Ilika Business Model Asset-light licensing model demonstrated on production-intent equipment Battery and assembly supply IP defining materials, IP defining materials, batteries and process batteries and process Manufacturing Development battery sales partners sell OEM partners product to sell produc
Slide 6: Ilika Investment Case
Ilika Investment Case Solid-state battery technology; growing patented portfolio across multiple jurisdictions Asset light business model with a strong focus on reaching commercialisation In-house, purpose built, fabrication facilities help drive and deliver scale-up plans Licencing and royalty agre
Slide 7: Stereax: Trends in Global Healthcare
Stereax: Trends in Global Healthcare Across the world, people are living longer but not necessarily healthier lives, creating an immense burden on healthcare systems Percentage of 20221 20222 obese people 26% The use of smart electronic Active Implantable Medical Devices (AIMD) are at the forefront
Slide 8: Stereax: Battery Technology for AIMD Today
Stereax: Battery Technology for AIMD Today Today the battery is the largest component in AIMD © Eagle Picher Large primary cell can only Small rechargeable cell, but be fitted to chest or buttock low power (C-rate) and cycle space pockets in body count Company Overview Stereax Goliath ESG Finances O
Slide 9: Stereax: An Enabling Technology
Stereax: An Enabling Technology Stereax technology is capable of revolutionising the medical implant industry Medical Li-ion Stereax Solid Batteries State Batteries Small Footprint Ultra-thin Reduced surgery time Long life in the body & user recharge at home Fast Charge / High Discharge Power Safety
Slide 10: Stereax: Large and Fast-growing Markets
Stereax: Large and Fast-growing Markets Demand for medical batteries is being driven AIMD Market $5.7B by innovation in electroceuticals and sensors Penetration1 18.1%CAGR Neuromodulation Implanted sensors Orthopedics Ophthalmic Orthodontic $4.2 Bn (2024) $6.0 Bn (2023) $26 Bn (2023) Projected: $1.3
Slide 11: Stereax: Ilika's Unique Miniature Battery
Stereax: Ilika’s Unique Miniature Battery First Product Stereax M300 • Rechargeable • Voltage: 3.5V • Capacity: 300 µAh • Max pulse current: 3 mA (10C) • Cycle life: >1000 cycles (50% DoD) Company Overview Stereax Goliath ESG Finances Outlook 11
Slide 12: Stereax: Cirtec Partnering
Stereax: Cirtec Partnering Partnership Benefits to Ilika Cirtec Medical: an industry- Validation of Stereax product and process Status: key equipment sets leading vertically-integrated transferred to Cirtec, outsource partner for medical Medical Manufacturing & Scale: Cirtec commissioning proceeding
Slide 13: Stereax: Commercial Order Analysis
Stereax: Commercial Order Analysis Ilika Stereax Orders by Application Initial commercial orders from a 25% US-centric customer base 20% 15% 10% 21 24 Orders 5% Companies 0% Europe USA Company Overview Stereax Goliath ESG Finances Outlook 13
Slide 14: Stereax: Revenue Growth Profile
Stereax: Revenue Growth Profile Ilika revenue from Stereax product lines Revenue Income growth from Stereax will be derived from several revenue streams which build as market penetration increases 2024 2033 Wafer Processing Income Non Recurring Engineering Battery Royalty Revenue Licence Issuance Fe
Slide 15: Goliath: Regulatory Driven Uptake
Goliath: Regulatory Driven Uptake • 145 countries announced net zero targets * • Covering ~ 90% of global emissions1 • Transport is the largest emitting sector2 1 – climateactiontracker.org 2 – gov.uk Overview Stereax Goliath ESG Finances Outlook 15
Slide 16: Global Electric Passenger Vehicle Sales Volume
Goliath: Enabling further EV sector growth Reasons for not purchasing EV sales momentum an Electric Vehicle 1 is strong 2 Global Electric Passenger Vehicle Sales Volume Limited Driving Range 55% / Million Units Recharging Time 45% Safety Concerns 15% 1 Adapted from CVMA, 2021 2 Forbes, 2024 Overview
Slide 17: Goliath: Solid-State Battery Technology Landscape
Goliath: Solid-State Battery Technology Landscape Different chemistries are optimal for different applications Oxide Electrolyte Sulfide Electrolyte Polymer Electrolyte Si anode Li anode Anode- less Chemistry Sulfide Electrolyte Oxide Electrolyte Polymer Electrolyte Lithium Anode Silicon Anode Anode
Slide 18: Goliath: Ilika's Cutting Edge Solid State EV Battery
Goliath: Ilika’s Cutting Edge Solid State EV Battery Goliath’s unique features will address common consumer concerns Performance of Safety of LFP NMC + FEATURE BENEFIT Lighter vehicle Non-flammable Higher cell-to pack No liquid vehicle Competitive Longer range performance vs Li-ion Can operate to hi
Slide 19: Goliath: Strong Progress Over Last 18 Months
Goliath: Strong Progress Over Last 18 Months NOW Customer testing commenced 12-month collaboration agreement with Agratas Faraday Institution safety project award Design of assembly line R2R coating in-house Li-ion parity achieved D4 Milestone achieved Trials at equipment vendors 2023 £8.2m HISTORY
Slide 20: Goliath: Technology Roadmap
Goliath: Technology Roadmap Solid-State Battery Energy Density Cell Energy Density (Wh/kg) 500 Max theoretical energy density of SSB MVP 400 D8 A sample Li-ion equivalence Max theoretical energy density of LIB 300 200 D4 P1 100 0 2024 2025 2026 Li-ion SSB Company Overview Stereax Goliath ESG Finance
Slide 21: Goliath: Production Scale-Up
Goliath: Production Scale-Up Ilika Scale-up Plan and Business Model Production Volume / MWh per year 1,000 1,000 Licensing Opportunities Gigafactory 900 B C With OEM 800 700100 Scale-Up & Develop Processes 600 A 500 1.5 Ilika Pilot 400 300 200 0.05 Ilika Pre-Pilot 100 0 2023 2024 2025 2026 2027 2028
Slide 22: Goliath: Commercial Interaction Analysis
Goliath: Commercial Interaction Analysis Strongest demand from European automotive OEMs 17 Companies Company Overview Stereax Goliath ESG Finances Outlook 22
Slide 23: Addressable Market
Goliath: Addressable Market Ilika Targets Performance Market Attractive SSB Market Forecast 1 1,400 Goliath Market Energy 1,200 Point TAM 50GWh/a 1,000 Cell Energy (Wh/I) 800 600 Page 23 400 200 Cell Cost ($/kWh) 0 0 50 100 150 200 250 1 BloombergNEF, 2022 Overview Stereax Goliath ESG Finances Outlo
Slide 24: UK Grant Funding in Support of Goliath
UK Grant Funding in Support of Goliath 2018 Feb 23 Apr 25 Oct 27 SSB Technology Development, Strategy & Safety Testing A-Sample, Pack Development and SSB Cell Integration Powerdrive Line, MoSESS, Granite: HISTORY: £2.8M+partner costs £5+partner costs TDAP programme: £140K FI SafeBatt Industrial Spri
Slide 25: Goliath: Revenue Growth Profile
Goliath: Revenue Growth Profile Ilika revenue from Goliath product lines Revenue Income growth from Goliath will be derived from several revenue streams, with grant revenue in early years being replaced with licence income before self- sustaining licence revenue as Goliath batteries are deployed on
Slide 26: ESG
ESG ESG is of utmost importance to Ilika and is monitored at board level Ilika continues to remain ahead of reporting requirements through ESG commitment Benchmarking ESG Materiality ESG Policy Internal Target ESG Monitoring against Committee Assessment Statement Setting Framework and Reporting stan
Slide 27: Financial Update
Financial Update Ilika Plc, audited financial results for the year ending 30 April 2024 Turnover of £2.1m (2023: £0.7m), with Total Income of £2.6m (2023 £0.8m) • Substantial increase over FY23 due to HISTORY & SiSTEM grant awards, supporting Goliath. Both grants continue through to Q1 2025. • Other
Slide 28: Outlook
Outlook Scale Stereax through joint manufacturing and marketing with Cirtec Mature Goliath technology with partners through defined technical milestones Continue pursuing grant support and commercial revenue through partnering Commercial opportunity continues to build for Ilika's technology across t