Slide 1: Slide 1
Slide 2: Ilika Half Year Update
Ilika Half Year Update Graeme Purdy, CEO Jason Stewart, CFO January 2023
Slide 3: 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 4: Presenting today
Presenting today Graeme Purdy Jason Stewart Chief Executive Officer Chief Financial Officer Founding CEO appointed in 2004. CFO since Jan 2023. Led two VC funding rounds and IPO. Previously Interim CFO and other Previously COO of Avantium BV and senior roles at Sunseeker early career with Shell Inte
Slide 5: Business overview
Business overview Ilika is one of the few independent global experts in the design and manufacture of solid state batteries Manufacturing miniature Stereax® technology Developing Goliath solid state pouch cells for consumer appliances and EVs Page 5
Slide 6: Why Solid State for Medtech?
Why Solid State for Medtech? Ultra compact: occupy half the volume of Li-ion, enabling smaller designs High power density: deliver power pulses for therapy and communication Safe: no toxic fluid leakage possible Page 6
Slide 7: MedTech Applications - Neuromodulation
MedTech Applications - Neuromodulation Neurostimulators are bioelectronic devices targeting the neural circuits of organs Mm-scale batteries enable miniaturisation in neuromodulation, implanting devices nearer the targeted organs Implantable Neurostimulators Market $16bn by 2027, CAGR 11.7% ref Page
Slide 8: MedTech Applications – Cardiac Sensing
MedTech Applications – Cardiac Sensing Cardiovascular diseases are the #1 cause of death globally, taking 17.9M lives each year Implanted sensors can help with heart failure prevention, and stroke and arrythmia monitoring Miniature batteries enable Sensors implantation via catheter Pressure Monitori
Slide 9: Operational Implementation
Operational Implementation 1,600 m2 UK fab installed on-time and on-budget in 2021 Carrying out product qualification and process optimization to increase yield Alpha samples of minimum viable product (M300) currently undergoing testing Initial orders from 18 customers with deliveries starting Q2/20
Slide 10: Commercial Traction
Commercial Traction Initial commercial orders from a diverse Medtech customer base Customer Customer Company Name Type of Company Country Intended Application Area Sector Size & CAGR Device Device SOM * SAM* (devices) A Start Up France Cardiac/Heart Rhythm $7bn/7% 100K's 10K's B Multinational (Liste
Slide 11: Commercial Order Analysis
Commercial Order Analysis Pipeline dominated by US Medtech opportunities Page 11
Slide 12: Stereax pathway to launch to support MedTech
Stereax pathway to launch to support MedTech H1: Process qualification H2: Process optimisation and product qualification Initial product sales Sales ramp 2022* 2023* 2024* Y5 - MASS PRODUCTION Y4 - Ilika has opened Y2 - FIRST IN- REGULATORY ~ facility new 100,000sfor mid- HUMAN APPROVAL batteries /
Slide 13: Manufacturing Business Model
Business Model Manufacturing From 2022 LOGISTICS Ilika as a Ilika UK Ilika Outsourced Outsourced Outsourced Ilika Ilika ILIKA Manufacturer Cell Customer Dicing Thinning Stacking Forming Testing Deposition PO & Contract Licensing Accelerated to 2023 Revenue share PO & Contract Manufacturing Ilika at
Slide 14: MOU signed with Cirtec Medical LLC
MOU signed with Cirtec Medical LLC Cirtec Medical: an industry-leading vertically integrated outsource partner for medical devices and components Ilika: technology development and IP licensing Cirtec: tech transfer to enable manufacturing and commercialization Ilika benefits: Further validation of S
Slide 15: Summary Half Year Stereax Highlights
Summary Half Year Stereax Highlights Launched programme for product qualification and process optimization for initial commercial release in Q2 CY23 Secured 21 initial orders from 18 customers, mainly for medical devices in US Signed MOU with Cirtec Medical LLC to transfer manufacturing under licens
Slide 16: Why Solid State for Automotive?
Why Solid State for Automotive? Ultra compact: occupies half the volume of Li- ion, enabling smaller designs High temperature tolerance: reducing pack size and weight Safe: non-flammable Environmental benefits: less energy to manufacture and easier to recycle Page 16
Slide 17: Market Dynamics
Market Dynamics Transport: 24% Transport is main > 100 Mt CO2e contributor of greenhouse gas emissions in UK (2022 BEIS report ref) Solid State Batteries Electric Vehicles can tackle: uptake growing but • Range anxiety still low • Battery life • Safety concerns Ref Page 17
Slide 18: Technical Readiness
Technical Readiness We will be producing cells with targeted dimensions this year (30 cm x 10 cm) Trialing processes on production-intent equipment, including Roll-to-Roll 100 Wh/kg achieved Page 18
Slide 19: Addressable Sector
Addressable Sector Goliath Market Entry Point, 2022 BNEF outlook projects EV sales in 2030 addressable market 50 GWh/a to be 20% higher than 2021 outlook Page 19
Slide 20: Production Volume / Scale-up Plan & Business Model
Scale-up Plan & Business Model 1,000 Licensing Opportunities Gigafactory Production Volume / MWh per Year Scale Up & Develop 100 Processes B C 1.5 Ilika Pilot A 0.05 Ilika Pre-Pilot 2023 2024 2025 2026 2027 2028 2029 2030 A A-samples allow us to enter RFQs B C Collaborate to produce B, C samples on
Slide 21: Commercial Traction
Commercial Traction Met with most of global automotive OEMs, across countries and sectors Early participation in RFQs to understand timelines and demand Commercial quotes to be issued by Ilika when we hit D4/P1 at the end of 2023 Two OEMs have signed evaluation contracts in expectation of P1 (first
Slide 22: Summary Half Year Goliath Highlights
Summary Half Year Goliath Highlights Increased energy density by 80% over 6 months Launched scale-up studies: Equipment design study with COMAU Economic feasibility study with UK-BIC Manufacturing equipment trials Continued global interaction with automotive and consumer appliance OEMs Page 22
Slide 23: Financial Summary
Financial Summary Turnover £0.2m (H1 2021/22: £0.2m) Resulted from grant funding in respect of three ongoing projects. EBITDA loss £4.1m (H1 2021/22: £2.7m) Increased operational costs associated with the Stereax manufacturing facility and the Goliath development programme Cash balance £18.6m (H1 20
Slide 24: Outlook
Outlook Deliver initial batch of Stereax® M300 samples H1 CY23 Progress Cirtec relationship through joint marketing, contract completion and technology transfer Mature Goliath technology with partners through defined technical milestones Commercial opportunity continues to build for Ilika's technolo
Slide 25: Questions
Questions
Slide 26: Ilika contact details
Unit 10a The Quadrangle, Abbey Park Industrial Estate, Romsey SO51 9DL Tel: +44 (0)23 8011 1400 www.ilika.com