Ilika PLC (AIM:IKA, OTCQX:ILIKF) CEO Graeme Purdy talked with Proactive's Stephen Gunnion about the company’s completion of process qualification for its Stereax M300 batteries in partnership with Cirtec Medical. Purdy said the milestone validates the choice of partnership and follows equipment commissioning earlier this year. The qualified manufacturing process now enables production for product testing and initial customer deliveries, which are expected to begin by the end of the calendar year.
Discussing revenue expectations under the ten-year contract with Cirtec, Purdy noted a gradual ramp-up is expected, with capacity at the facility anticipated to be filled over the next three years. He pointed to analyst coverage from Cavendish for further revenue guidance.
Purdy described the addressable market for these batteries as a fast-growing part of the electroceutical sector, with applications in orthopaedics, orthodontics and neurostimulation — all multi-billion-dollar opportunities. “The Stereax batteries really enable part of this electro-ceutical revolution that’s sweeping through the healthcare industry,” he said.
Looking ahead, Ilika plans to launch the higher-capacity M1000 battery and is exploring industrial and IoT applications, particularly where energy harvesting and distributed sensors can be used for asset monitoring.
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