Ilika plc Stereax(R) manufacturing plans update (1405X)
August 26 2020 - 2:00AM
UK Regulatory
TIDMIKA
RNS Number : 1405X
Ilika plc
26 August 2020
Ilika plc
("Ilika" or the "Company")
Stereax (R) manufacturing plans update
Strengthening of the Senior Management team
Ilika (AIM: IKA), a pioneer in solid-state battery technology,
would like to take the opportunity to update the market on the
implementation of its manufacturing plans for Stereax, Ilika's
miniature solid-state batteries designed for industrial wireless
sensors in hostile environments and medical implants.
In the Company's Trading Update issued on 9 June 2020, Ilika
explained that it had issued Requests for Information (RFI's) to
four 3(rd) party fabrication facilities (FABs), two in Europe and
two in North America, to prepare for the selection of its preferred
fab partner. Ilika has now entered into detailed commercial
discussions with two of the FABs, with a view to concluding
discussions in Q4 2020.
Ilika confirmed, in the Final Results announcement on the 9 July
2020, that the contract had been awarded for the most significant
long-lead equipment item, Tool 1, a custom-designed evaporation
tool for the rapid deposition of cathode materials for Ilika's
Stereax batteries. The Company continues to expect that this will
be ready for delivery to Ilika in Q4 2020 for process
development.
Ilika has now also placed the order for Tool 2, which deposits
the remaining battery layers on top of the cathode. The delivery of
this tool is synchronised with the delivery of Tool 1 to ensure
optimal deployment of capital. Tools 1 and 2 are balanced to
deliver a 70x productivity increase relative to Ilika's current
pilot line capability.
Ilika, has strengthened the Company's Senior Management team by
appointing Paul Marron to the newly created position of Technology
Transfer Director, to oversee the implementation of Ilika's process
at FAB scale. Paul has extensive operational experience in the
semiconductor, automotive and aerospace industries.
Ilika's CEO Graeme Purdy, stated, "We remain entirely focused on
agile project execution as we prepare our Stereax technology to
meet the rigorous demands of full commercialisation. We are pleased
to report that everything is on schedule, post shareholder support
from the recent capital raise, despite challenging economic market
conditions and the constraints of the pandemic."
For more information contact:
Ilika plc www.ilika.com
Graeme Purdy, Chief Executive Via Walbrook PR
Steve Boydell, Finance
Director
Liberum Capital Limited Tel: 020 3100 2000
Andrew Godber, Cameron
Duncan, William Hall, Nikhil
Varghese
Walbrook PR Ltd Tel: 020 7933 8780 / Ilika@walbrookpr.com
Tom Cooper Mob: 0797 122 1972
Lianne Cawthorne Mob: 07584 391 303
Nick Rome Mob: 07748 325 236
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END
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