Ilika plc AGM Statement (6113A)
September 30 2015 - 2:00AM
UK Regulatory
TIDMIKA
RNS Number : 6113A
Ilika plc
30 September 2015
Ilika plc
("Ilika" or the "Company")
AGM Statement
Ilika (AIM: IKA), the accelerated materials innovation company,
will hold its Annual General Meeting today at 2pm at the offices of
Eversheds LLP, One Wood Street, London, EC2V 7WS.
Ahead of the formal proceedings Graeme Purdy, CEO of Ilika, will
provide the following update to shareholders:
Since the announcement of our final results in July, operations
at Ilika have been dominated by the activities associated with the
production of our solid-state batteries. In March 2015 we announced
commencement of solid-state battery production, which enabled us to
enter into a dialogue with our OEM partners on integration of the
batteries with their products. The principal applications being
addressed are wireless sensors for smart buildings, transport and
medical devices. These interactions resulted in a set of
performance targets being defined for each application. The
performance targets have been translated into a development roadmap
with intermediate milestones to be achieved along the way. The
technical team has been working hard to achieve these milestones
over the summer period and solid progress is being made towards
commercialisation.
Ilika's portfolio of patents, covering its solid-state battery
technology, has also made good progress. We reported in March that
we had received a Notice of Allowance in the United States for one
of the applications and an Intention to Grant in Europe for
another. Both were jointly filed with Toyota. As expected, these
patents went to formal grant in those jurisdictions in June and
July respectively. Earlier this week, Ilika announced that it had
also received notification of grant of one of these patents in
China. In July, a further three patent applications covering other
aspects of our battery technology were published. We expect further
filings to result from the development work currently being
undertaken.
In August we reported that the European Patent Office had upheld
Ilika's opposition to a fuel cell catalyst patent from a US
national lab. Ilika invests significant sums in creating
intellectual property to underpin the company's licensing model.
Potentially competitive filings are monitored closely and are
challenged where appropriate. The patent revocation means that
Ilika now enjoys freedom to operate the European patent covering
our palladium-alloy based fuel cell catalyst. While the adoption
rate of fuel cell technology has always been difficult to predict,
the recent launch of vehicles like the Toyota Mirai signals an
increased focus by OEM's on cost-reduction in readiness for the
mass market. Ilika's patented fuel cell catalyst materials are
currently under evaluation by global car manufacturers and Tier 1
suppliers.
Also of note has been Ilika's recent success in attracting
funding to support its work in developing advanced aerospace
alloys. Last week, we announced that Ilika had been awarded a
GBP466,000 grant to support its role leading a GBP2.15 million,
3-year collaborative project with Reliance, the University of
Sheffield, GKN and BAE Systems. The project will develop a new
generation of self-healing alloys for additive manufacturing (AM)
processes. Forecasts for the AM market (also known as 3D printing)
fall into the $230 bn- $550 bn range by 2025 and developing
suitable alloys for this process will be a valuable enabling
technology.
This AGM will also be a time of board renewal, with the
retirement of Jack Boyer OBE after 11 years in the role and his
replacement, pending shareholder confirmation, by Mike Inglis. Jack
has overseen the growth of the company from a University spin-out
in 2004, through three rounds of venture finance and a successful
IPO in 2010. Mike brings a wealth of IP commercialisation
experience to the board, from his time as Commercial Director at
ARM Holdings. Mike's appointment builds on the addition of
Professor Keith Jackson to the board in October 2014. This
development of the board is part of a broader transition for Ilika
from a project-based organisation to one with a greater product
focus and we'd like to thank our shareholders for their continued
support and enthusiasm during this period.
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/ Adrian Trimmings
/
James Black
Walbrook PR Ltd Tel: 020 7933 8780 / ilika@walbrookpr.com
Paul McManus Mob: 07980 541 893
Lianne Cawthorne Mob: 07584 391 303
This information is provided by RNS
The company news service from the London Stock Exchange
END
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