Ilika plc
("Ilika" or the "Company")
Grant funding for Superalloys
Ilika (AIM:IKA), the advanced materials discovery company, announces that it is the lead partner in a project that has received an offer of grant funding through the Technology Strategy Board under the Aerospace Industrial Strategy: Advancing Technology Capability competition. Ilika will receive £0.875m of the £1.326m grant for this three year programme. The Company will work together with the University of Cambridge, Diamond Light Source and Rolls Royce to develop new alloy compositions for gas turbine engines with better thermo efficiency than current alloys, therefore increasing performance, reducing CO2 emissions and reducing noise levels at take-off.
This award builds upon Ilika's work within the Aerospace Industry, having announced in October 2013, the award of commercial contracts with two of the world's largest aerospace companies.
Commenting on the award, Graeme Purdy, CEO of Ilika, said: "The aerospace sector has been recognised as a key part of the UK's manufacturing base and this project helps ensure that it remains at the forefront of new technologies. Ilika is delighted to be working alongside the University of Cambridge, Diamond Light Source and Rolls Royce in the innovation of these materials."
For more information please 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 or ilika@walbrookpr.com |
| Paul McManus | Mob: 07980 541 893 |
| Paul Cornelius | Mob: 07827 879 460 |
This information is provided by RNS