Trading Update

RNS Number : 9639H

Ilika plc

04 December 2015

 

Ilika plc

("Ilika" or the "Company")

Operational and Trading Update

Ilika (AIM: IKA), the accelerated materials innovation company, announces a trading update for the six months ended 31 October 2015.

Operational Progress

Since the Company's AGM on 30 September 2015, Ilika's flagship solid-state battery development programme has continued to make progress in accordance with the product roadmap.

Ilika is currently focused on manufacturing micro-battery prototypes designed to power wireless sensors for applications across the 'Internet of Things' ("IoT") market. In accordance with the objectives outlined previously, the performance data generated by Ilika's batteries has been shared with a group of potential OEM partners for their evaluation, enabling them to draw up detailed specifications for specific battery architectures for their proprietary products. The specifications vary by application but can broadly be grouped into:

·     Miniature (1mm² and less footprint) batteries with high energy density for integrated electronics and healthcare applications

·     1cm² footprint batteries useful to power sensors in smart buildings to measure light, temperature and humidity feeding into lighting and HVAC control systems

·     1cm² footprint batteries that can operate in more extreme (high temperature) environments, typically for transport applications including aerospace and automotive.

Ilika continues to deploy operational resources on this development programme to ensure the Company proceeds in line with our roadmap.

Ilika also continues to progress other programmes in its portfolio, in particular the development of aerospace alloys, in collaboration with partners including Rolls Royce, GKN and BAE Systems.

Trading Update

More operational resource has been dedicated to the battery development program than in the prior period and financial results for the six months ended 31 October 2015 are expected to show total revenue for the period of £0.3m (H1 2014: £0.6m) resulting in an operating loss for the period of £1.8m (H1 2014: £1.6m). Cash and cash equivalents at the period end were £4.5m (H1 2014: £7.2m).

The Company will announce half-year results for the six months ended 31 October 2015 on 12 January 2016.

Graeme Purdy, CEO of Ilika, commented: "The hard work invested by our operational team in manufacturing and characterising prototype batteries this year has been reinforced by positive feedback from potential commercial partners. The feedback from those partners builds confidence that our technology will be in a strong position to address significant commercial opportunities going forward." 

For more information contact:

Ilika plc	www.ilika.com
Graeme Purdy, Chief Executive	Tel: [phone]
Steve Boydell, Finance Director
Numis Securities Limited	Tel: [phone]
Oliver Cardigan
Paul Gillam
James Black
Walbrook PR Ltd	Tel: [phone] / [e-mail]
Paul McManus	Mob: [phone]
Lianne Cawthorne	Mob: [phone]

 

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