Ilika plc
("Ilika" or the "Company")
Contract with new European Customer
Ilika plc (AIM: IKA), the advanced cleantech materials discovery company, announces that it has signed a contract with a world-leading European manufacturer of speciality materials, for the optimisation of its proprietary lithium ion battery materials.
This contract is one of the three contracts referenced in Ilika's trading update released on the 16 April as being unexpectedly delayed. However, due to the timing of the award of this contract, the majority of the revenue associated with the work will be recognised during the Company's next financial year, commencing 1 May 2013.
Commenting on the contract, Graeme Purdy, CEO of Ilika, said: "We are delighted to have entered into this new commercial relationship, which strengthens our portfolio of customers in the rapidly-moving area of battery innovation. The contract will provide a springboard for growth in the coming financial year and provides increasing revenue visibility for the business. This represents the front end of a pipeline of opportunities being matured by our most recently appointed business development director, based in Frankfurt, Germany."
For more information contact:| Ilika plc | www.ilika.com |
| Graeme Purdy, Chief Executive | Tel: 023 8011 1400 |
| Steve Boydell, Finance Director | |
| Numis Securities Limited | Tel: 020 7260 1000 |
| Oliver Cardigan, Nominated Adviser | |
| James Black, Corporate Broking | |
| Walbrook PR Ltd | Tel: 020 7933 8780 |
| Paul McManus | Mob: 07980 541 893 or ilika@walbrookpr.com |
| Paul Cornelius | Mob: 07827 879 460 or ilika@walbrookpr.com |
This information is provided by RNS