Slide 1: Ilika Half-Year Results
Ilika Half-Year Results January 2025
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: Pioneer in Solid State Batteries
Ilika at a Glance: Pioneer in Solid State Batteries 2004 $280Bn 62 £10M Company TAM for Patents Cash Balance Founded Automotive 31st Oct 2024 in Southampton Batteries by UK 2030 Stereax miniature cells used primarily Goliath large format cells targeting to power miniature medical devices the automot
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 Non-exec Chairman Non-Executive
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: Shaping our investment case
Shaping our investment case Solid-state battery technology; growing patented portfolio across multiple jurisdictions Hedged across two markets with near-term route to commercialisation, reducing execution risk In-house, purpose built, fabrication facilities help drive and deliver scale-up plans Lice
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 Company Overview Stereax Goliath ESG Finances Outlook 7
Slide 8: Stereax: Trends in Global Healthcare
Stereax: Trends in Global Healthcare The use of smart electronic Active Implantable Medical Devices (AIMD) is at the forefront of a search for efficacy and productivity ref Company Overview Stereax Goliath ESG Finances Outlook 8
Slide 9: Stereax: Battery Technology for AIMD Today
Stereax: Battery Technology for AIMD Today Today the primary battery is the largest component in AIMD Small rechargeable cells exist but have low power and slow charging Company Overview Stereax Goliath ESG Finances Outlook 9
Slide 10: 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 • Cognitive disorders $4.2 Bn (2024) • Chronic pain Neuromodulation CAGR: 9.5% • Stroke • Psychiatric disorders • Cardiovascular $6.0 Bn (2023) Implanted sensors • Oxyge
Slide 11: Stereax: An Enabling Technology
Stereax: An Enabling Technology Stereax benefits for medical implant industry • Reduced surgery time • Implant located close to point of therapy • Long life in the body • User recharge at home • Able to power Bluetooth radio Medical Li-ion Stereax Small Footprint Ultra-thin x Fast charge/ High
Slide 12: 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 12
Slide 13: Stereax: Cirtec Partnering
Stereax: Cirtec Partnering Status: • Commissioning completed • User acceptance tests completed • Engineering lots started Partnership Benefits to Ilika Validation of Stereax product and process Medical Manufacturing & Scale: Cirtec holds the medical accreditations and have the size and scale to meet
Slide 14: Stereax: Commercial Order Analysis
Stereax: Commercial Order Analysis Initial commercial orders from a US-centric customer base Ilika Stereax Orders by 25% Application 20% 15% 10% 5% Europe USA 0% 21 24 Companies Orders Company Overview Stereax Goliath ESG Finances Outlook 14
Slide 15: Stereax: Revenue Growth Profile
Stereax: Revenue Growth Profile Illustrative Revenue from Stereax product lines • Income growth derived from several revenue streams • Royalty timelines dictated by the certification of medical devices • Industrial IoT addressable at larger volumes Illustrative Cumulative Stereax revenue build Reven
Slide 16: Goliath: Regulatory Driven Uptake
Goliath: Regulatory Driven Uptake 1 – climateactiontracker.org Overview Stereax Goliath ESG Finances Outlook 16 2 – gov.uk
Slide 17: Goliath: Enabling further EV sector growth
Goliath: Enabling further EV sector growth Growth in Electric Vehicles Reasons for not purchasing sales continues1 an Electric Vehicle 2 18 119.4% 16 Limited 14 Driving 55% Global EV Sales / Millions 12 Range 10 8 Recharging 45.0% 54.2% 45% 6 Time 29.5% 4 29.8% 2 Safety 15% 0 Concerns 2020 2021 2022
Slide 18: Goliath: Solid State Battery Technology Landscape
Goliath: Solid State Battery Technology Landscape Different chemistries are optimal for different applications • SSBs can be made using different materials combinations • Goliath SSBs combine oxide electrolytes with silicon anodes delivering: • Ease of handling in a manufacturing environment • Longe
Slide 19: Ilika's Cutting Edge Solid State EV Battery
Goliath: Ilika’s Cutting Edge Solid State EV Battery TheGoliath full video of the delivers naillower a safer, penetration testresponse temperature can be found at:flames without https://www.youtube.com/watch?v=fIP_jwKa9SU to mechanical pouch penetration and shorting. Overview Stereax Goliath ESG Fin
Slide 20: Ilika's Cutting Edge Solid State EV Battery
Goliath: Ilika’s Cutting Edge Solid State EV Battery Goliath addresses customer concerns Performance of Safety of LFP* NMC* + FEATURE BENEFIT Non-flammable Lighter vehicle Competitive Longer range capacity Safe in Tolerant of higher manufacture, use temperatures and recycling *NMC: Nickel-Manganese-
Slide 21: Pack Level Benefits
Goliath: Pack Level Benefits UK Pack Designers Balance Batteries modelled a hypothetical Hyundai Ioniq 5 pack with Goliath SSB SSB LIB - 20 wt% - £2,500 (Bill of Materials) - 6 min (12 min vs 18 min, SSB 10-80 SoC%) Overview Stereax Goliath ESG Finances Outlook 21 21
Slide 22: Goliath: Strong Progress Over Last 18 Months
Goliath: Strong Progress Over Last 18 Months NOW 10 Ah battery capacity reached (D6) Exemplary safety data validated by SAFEBatt (D5) Customer testing commenced 12-month collaboration agreement with Agratas Li-ion energy density parity achieved Design freeze for 1st generation customer prototypes (D
Slide 23: Goliath: What to Expect
Goliath: What to Expect 2026 OEM/Tier 1 1st option to license Release of 50 Ah 3rd generation customer prototypes (P2) 1.5 MWh assembly line site acceptance test Release of 10 Ah 2nd generation customer prototypes (P1.5) Design freeze for 50 Ah 3rd generation customer prototypes (D8) 1.5 MWh assembl
Slide 24: Production Scale-Up
Goliath: Production Scale-Up Ilika Scale-up Plan and Business Model NRE starts Licensing Window Royalty ramp up starts 1,000 1,000 Licensing Opportunities Gigafactory 900 B C With OEM 800 Production Volume / MWh per year 700100 Scale-Up & Develop Processes 600 A 500 1.5 Ilika Pilot 400 300 200 0.05
Slide 25: Goliath: Commercial Interaction Analysis
Goliath: Commercial Interaction Analysis Strongest demand from European automotive OEMs 21 Companies Company Overview Stereax Goliath ESG Finances Outlook 25
Slide 26: Addressable Market
Goliath: Addressable Market Ilika Targets Performance Market Attractive SSB Market Forecast 1 1,400 Goliath Market Entry 1,200 Point TAM 50GWh/a 1,000 Cell Energy (Wh/I) 800 600 Page 26 400 200 Cell Cost ($/kWh) 0 0 50 100 150 200 250 1 BloombergNEF, 2022 Overview Stereax Goliath ESG Finances Outloo
Slide 27: Goliath: Revenue Growth Profile
Goliath: Revenue Growth Profile Illustrative Revenue from Goliath product lines • Income growth from several revenue streams • Grant revenue and NRE in early years • Licence income before royalties at Giga scale Illustrative Cumulative Goliath revenue build Revenue 2024 Grant Income Non-Recurring En
Slide 28: 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 29: Financial Update
Financial Update Un-audited financial results for the half year ending 31 Oct 2024 Turnover of £1.0m (2023/4: £1.3m) • Grant funding of £0.9m (2023/4: £1.3m) • Goliath commercial income of £0.1m (2023/4: £0) EBITDA loss*, excluding share-based payments, £1.9m (2023/4: £1.9m loss) • Continued focus o
Slide 30: Outlook
Outlook Scale Stereax through joint manufacturing and marketing with Cirtec Mature Goliath with partners through defined technical milestones Continue pursuing grant support and strategic partnering Commercial opportunity continues to build for Ilika's technology across the large addressable markets