Ilika Plc · LSE:IKA
Ilika — Investor Day (April 2024)
33 slides from Ilika's investor day presentation, April 2024
Slide 1: Ilika – Capital Markets Day April 2024
Ilika – Capital Markets Day April 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 Independent Global Experts in Solid State Batteries (SSBs) • Product lines: • Stereax miniature cells used primarily to power miniature medical devices and industrial IoT • Goliath large format cells targeting the automotive industry and cordless consumer appliances • Developing SS
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 & Co- Chief Financial Officer Chairman Non-Executive Direc
Slide 5: Ilika Business Model
Ilika Business Model Asset-light licensing model demonstrated on production-intent equipment Company Overview Stereax Goliath ESG Finances Outlook 5
Slide 6: Trends in Global Healthcare
Trends in Global Healthcare • Across the world people are living longer, but not necessarily healthier lives, creating an immense burden on healthcare systems and demanding new approaches to therapeutic productivity • The use of smart electronic Active Implantable Medical Devices (AIMD) are at the f
Slide 7: Battery Technology for AIMD Today
Battery Technology for AIMD Today Today the battery is largest component in AIMD Large primary cell can only be fitted to Small rechargeable cell, but low power chest or buttock space pockets in body (C-rate) and cycle count Company Overview Stereax Goliath ESG Finances Outlook 7
Slide 8: Stereax: An enabling technology
Stereax: An enabling technology Stereax Technology (smaller battery technology) is Capable of Revolutionizing the Medical Medical Li-ion Stereax Solid Batteries State Batteries Implant Industry Increasing Rate of Implantation – A more compact AIMD Small Footprint enables quicker and less risky surge
Slide 9: Stereax: Large and Fast-growing Markets
Stereax: Large and Fast-growing Markets Demand for Medical Batteries is being driven by Innovation in Electroceuticals and Sensors AIMD Market Penetration* $5.7B 18.1%CAGR Neuromodulation Implanted sensors Orthopedics Ophthalmic Orthodontic Projected: $1.3 Bn $4.2 Bn (2024) $6.0 Bn (2023) $26 Bn (20
Slide 10: Stereax: Ilika's Unique Miniature Battery
Stereax: Ilika’s Unique Miniature Battery Parameter @ 37°C Value Charging Rechargeable Rated capacity µAh 300 Nominal voltage V 3 – 4 Max pulse current mA 3 (10C) Cycle Life (to 80% cycles > 1000 (50% DoD) capacity) Company Overview Stereax Goliath ESG Finances Outlook 10
Slide 11: Stereax: Cirtec Partnering
Stereax: Cirtec Partnering Cirtec Medical: an industry-leading Status: key equipment sets vertically-integrated outsource transferred to Cirtec, partner for medical devices and commissioning proceeding components Partnership Benefits to Ilika: Validation of Stereax product and process Catheter Coil
Slide 12: Stereax Applications: Neuromodulation
Stereax Applications: Neuromodulation Worldwide Prevalence (%) Miniaturisation enables implantation of 19% Chronic Pain Pulse Generator nearer targeted organ in less intrusive procedure Migraine 31% Sleep Stroke/Parkinsons 5.5Bn 13% People Bowel & Bladder Movement Disorders 5% Cognitive Disorders 5%
Slide 13: Stereax Applications: Smart Orthopaedics
Stereax Applications: Smart Orthopaedics Knee and Hip Replacements in 1 Million USA Per year 2nd surgery needed due to 2% infection Challenge • Only way of detection is through patient discomfort • Real-time sensors currently too big due to battery Trauma Solution screws • Smart orthopaedics allow f
Slide 14: Stereax Application: Cardiac Sensing & Pacing
Stereax Application: Cardiac Sensing & Pacing Sensing: Insertion by catheter • Pulmonary heart pressure • Blood pressure • Pulse • Blood oxygen • Weight • Symptoms Wireless data transfer Battery Back-up for leadless pacemakers courtesy of Cairdac courtesy of Cairdac © courtesy of Cairdac © Company O
Slide 15: Stereax Application: Smart Orthodontics
Stereax Application: Smart Orthodontics Saliva is the new blood for health diagnostics! From their phone, users can check vital diagnostic information and receive real-time health alerts with preloaded medical advice or products from their doctor to correct health imbalance courtesy of Lura Health ©
Slide 16: Stereax Application - Opthalmics
Stereax Application - Opthalmics Active diabetic retinography for real-time monitoring of glucose level Monitoring of Intra-Ocular Eyelid-worn battery Pressure (OAP) pack for wireless power transmission to smart contact lens Sight Correction (presbyopia) AR/VR (Display, eye tracking, comms) Company
Slide 17: Stereax: Commercial Order Analysis
Stereax: Commercial Order Analysis Initial commercial orders from a US-centric customer base Stereax Orders by Application Stereax Orders by Geography 25% 21% 21% Neurostimulation Implanted sensors Europe Ophtalmics USA Orthodontics 13% Orthopaedics 21% Others (IoT, aerospace) 75% 13% 13% 21 24 Comp
Slide 18: Goliath: Regulatory Driven Uptake
Goliath: Regulatory Driven Uptake • 145 countries announced net zero targets * • Covering ~ 90% of global emissions * • Transport is the largest emitting sector * Overview Stereax Goliath ESG Finances Summary 18
Slide 19: Goliath: Enabling further EV sector growth
Goliath: Enabling further EV sector growth Reasons for for Reasons notnot purchasing anElectric purchasing an Electric Vehicle? Vehicle 1 EV sales momentum is strong 2 Limited Driving Range 55% Recharging Time 45% Safety Concerns 15% 1 Adapted from CVMA, 2021 2 Forbes, 2024 Overview Stereax Goliath
Slide 20: Goliath: Ilika's Cutting Edge Solid State EV Battery
Goliath: Ilika’s Cutting Edge Solid State EV Battery Goliath unique features will alleviate consumers anxieties Overview Stereax Goliath ESG Finances Summary 20
Slide 21: Goliath: Addressable Market
Goliath: Addressable Market Ilika Targets Performance Market Attractive SSB Market Forecast 1 1,400 Goliath Market Energy 1,200 Point TAM 183 GWh/a 1,000 Cell Energy (Wh/I) 800 600 Page 21 400 200 Cell Cost ($/kWh) 0 0 50 100 150 200 250 1 BloombergNEF, 2022 Overview Stereax Goliath ESG Finances Sum
Slide 22: Goliath: Strong Progress to Date
Goliath: Strong Progress to Date Delivery of MVP £8.2m HISTORY Li-ion Parity D4 Milestone program award Achieved Achieved TECHNOLOGY 2023 2024 2025 MANUFACTURING Trials at equipment R2R coating Design of vendors in-house Assembly Line Overview Stereax Goliath ESG Finances Summary 22 22
Slide 23: 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 24: 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 800 With OEM 700100 Scale-Up & Develop Processes 600 A 500 1.5 400 Ilika Pilot 300 200 0.05 Ilika Pre-Pilot 100 0 2023 2024 2025 2026 2027 2028
Slide 25: Goliath: Commercial Interaction Analysis
Goliath: Commercial Interaction Analysis Strongest demand from European automotive OEMs 17 Companies Company Overview Stereax Goliath ESG Finances Outlook 25
Slide 26: 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 APC CR&D: Expected £15M+ pr
Slide 27: Goliath: Partnering for Manufacturing Scale-up
Goliath: Partnering for Manufacturing Scale-up Ilika is receiving support from the Automotive Transformation Fund ATF SuRV2: SiSTEM 17-months from Oct 2023 Programme value £2.7m/£400k Ilika grant funding Objectives: • Undertake physical trials of Ilika’s electrode production at UKBIC • Design, build
Slide 28: Goliath: Partnering for Manufacturing Scale-up
Goliath: Partnering for Manufacturing Scale-up 2018 2024 2025 2027 2030 Licensee's Large Ilika Pre-Pilot line: Ilika Pilot line: 1.5 MWh Scale Pilot line: 50- 50 kWh 100MWh to Giga scale Supported by FBC through PowerDrive Line Supported by ATF through STEP and SiSTEM Under Manufacturing licence M0
Slide 29: Financial Update
Financial Update Ilika Plc, un-audited financial results for the half-year ending 31 October 2023 Total Income £1.3m (H1 2023: £0.2m) o Substantial increase over FY23 due to HISTORY grant, supporting Goliath. o Income from grants of £1.3m (H1 2023: £0.2m) o HISTORY will continue through to the begin
Slide 30: Revenue
Stereax Revenue Growth profile Ilika Revenue from Stereax product lines Income growth from Stereax product will be derived Revenue from several revenue streams which build as market penetration increases 2024 2033 Company Overview Stereax Goliath ESG Finances Outlook 30
Slide 31: Revenue
Goliath Revenue Growth Profile Ilika Revenue from Goliath product lines Income growth from Goliath product will be derived from several revenue streams, with grant revenue in early years being replaced Revenue with licence income before self-sustaining licence revenue as Goliath batteries are deploy
Slide 32: ESG
ESG ESG is of utmost importance to Ilika and is monitored at board level We continue to remain ahead of reporting requirements through our commitment to ESG Benchmarking ESG Materiality ESG Policy Internal Target ESG Monitoring against Committee Assessment Statement Setting Framework and Reporting s
Slide 33: 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