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A very upbeat CMD (here) from Ilika today outlined the impressive operational progression the company has achieved over the past 12 months. Of note, from a financial standpoint, is the robust liquidity position expected at FY24 (April 2024), demonstrating management’s ongoing prudent approach to capital discipline. We thought the partnership with Cirtec was of particular importance to investors present, with the deal demonstrating the de-risking of Ilika’s mm-scale product offering while also allowing the company to place a greater focus on its high-growth EV division. The recap of D4 development status and Li-ion energy density parity at Goliath were very well received in terms of key milestones as the company progresses towards its first prototype for customer release this year.
Ilika plc
Ilika continues to make strong progress across its Goliath and Stereax divisions, with several key milestones achieved during the second half of 2023. The deal with Cirtec, which concluded in August 2023, served to significantly de-risk Ilika’s mm-scale product offering while also allowing the company to place a greater focus on its high-growth EV division. We also see the recent achievement of D4 development status and Li-ion energy density parity at Goliath as important achievements as the company progresses towards its first prototype for customer release this year. We reiterate our BUY rating and 65p/share TP.
Ilika continues to make material progress across its Goliath and Stereax divisions, with several key milestones achieved this year. The deal with Cirtec, concluded in August 2023, served to significantly de-risk its mm-scale product offering while also allowing the company to place a greater focus on its high-growth EV division. We also see the recent achievement of D4 development status at Goliath as an important development as the company progresses towards its first prototype for customer release next year. We reiterate our BUY rating and 65p/share TP.
In a positive update, Ilika has received further validation of its Goliath solid-state battery (SSB) offering through the award of £400k of funding support from the UK Government’s Automotive Transformation Fund (ATF). The funds will be used to scale-up its Goliath pilot production capability through a collaboration with Mpac Group and will see the development of a scaled SSB assembly line which will be capable of delivering A-sample automotive pouch cells for testing in 2025. We reiterate our BUY rating and 65p/share TP.
Shareholders will be encouraged by confirmation that Ilika has concluded its strategically important manufacturing licence with Cirtec, which we believe serves to significantly de-risk its Stereax product offering. The key next step will be the transfer of machine sets to the US for Cirtec to operate on loan, to enable a quicker technology transfer and qualification process, which we estimate to take six months. We also note that Ilika’s revenue guidance for the next few years remains unchanged for now, however we expect further clarity will be provided on commercial progress at its half year results early next year. We reiterate our BUY rating, increasing our TP to 65p/share (from 60p/share) reflecting a reduction in our Stereax risk assumptions.
Whilst Ilika’s FY23 results have come in as expected, the progression across the operational side of the business has been considerable. First Stereax deliveries to customers has been achieved, and the conclusion of terms with Cirtec Medical appear to be in sight. At Goliath, the company is targeting li-ion energy density parity by the end of 2023 ahead of sharing prototype cells with partners in H1 CY24. Despite a c.46% rally in Ilika’s share price YTD, we see the current valuation as a compelling entry point for investors ahead of several share price catalysts across its core divisions in 2H CY23. BUY.
2023 has started well for Ilika, particularly with regards to its Stereax division. First deliveries to customers and ongoing discussions with Cirtec Medical suggests commercialisation of its medical SSBs is in sight. At Goliath, the company is targeting li-ion energy density parity by the end of 2023 ahead of implementing a scale-up to mega-factory scale in order to support a commercial roll-out of a small portfolio of electric hyper and super car models. Ilika’s share price (albeit +78% YTD) continues to reflect the long-term upside potential to investors. BUY.
Ilika, ATOME Energy, Mitchells & Butlers, Ashtead Technology, On the Beach, Safestyle, SMID Market Highlights
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Ilika, ATOME Energy, Anglo American, British Land, Mitchells & Butlers, Uniphar, Ashtead Technology, On the Beach, Safestyle, Market Highlights
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2023 has started well for Ilika, particularly with regards to its Stereax division. First deliveries to Blink Energy and now to CubeWorks and Lura Health suggests commercialisation of its medical SSBs is in the ascendency. Ongoing discussions with Cirtec remain encouraging and we would not be surprised to see a positive near-term outcome. At Goliath, the company is targeting Li-ion energy density parity by the end of 2023 ahead of implementing a scale-up to mega-factory scale in order to support a commercial roll-out of a small portfolio of electric hyper and super car models. Ilika’s share price (albeit +100% YTD) continues to reflect material value to investors in our view. BUY.
Ilika has received further validation of its Goliath solid-state battery (SSB) division through a UK grant of £2.8m, whilst also taking the lead on a 24-month £8.2m Faraday Battery Challenge collaboration. The company is targeting li-ion energy density parity by the end of 2023 ahead of implementing a scale-up to mega-factory scale in order to support a commercial roll-out of a small portfolio of electric hyper and super car models. Today’s news follows similarly positive developments with regards to Stereax last week, Ilika’s share price (+70% YTD) continues to reflect the long-term transformational upside potential to investors. BUY.
Following the company’s detailed trading update in November 2022, there is little by way of surprises in today’s 1H23 results with regards to financial performance and near-term outlook. Despite well documented challenges with regards to Stereax, it has been a period of solid operational advancement for Ilika, which has translated to >70% progression in its share price YTD. Elsewhere, Goliath remains on track, with Ilika targeting li-ion energy density parity by the end of 2023. Following which, the company anticipates implementing a scale-up to mega-factory scale in order to support a commercial roll-out of a small portfolio of electric hyper and super car models.
Whilst there will be shareholder disappointment following Ilika’s latest trading update, we remain of the view that the company’s underlying solid state battery (SSB) technology remains compelling, and still represents a structurally sound opportunity to disrupt the monopoly held by lithium-ion technology. Nevertheless, the anticipated delays to product qualification at Stereax, in addition to extended commercialisation timeframes for medical devices, will impact financial forecasts to the downside. We therefore reduce our TP to 60p (from 117p) but maintain our BUY rating citing the clear longer-term opportunity.
Ilika, Clarkson, Restaurant Group, Loungers, Caledonia Group, CMO Group, Mining LOWdown, SMID Market Highlights
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Ilika, Clarkson, Restaurant Group, Loungers, Caledonia Group, CMO Group, Mining LOWdown, Market Highlights
Following the company’s detailed trading update in May 2022, there is little by way of surprises in today’s FY22 results with regards to financial performance and near-term outlook. It has been a year of solid operational progression for Ilika, particularly with the installation and commissioning of its Stereax manufacturing facility where initial orders are expected to be fulfilled in early 2023. Elsewhere, Goliath remains on track, with Ilika targeting manufacturing readiness in 2023. Following which, the company anticipates implementing a scale-up to mega-factory scale in order to support a commercial roll-out of a small portfolio of electric hyper and super car models. BUY
Ilika’s trading update on 11 May confirmed that results for the year ending April 2022 (FY22) were in line with expectations. However there have been some factory related delays in the qualification process relating to its miniature Stereax batteries. Our new estimates foresee very modest commercial sales now in the coming year and full factory capacity being reached two years later than originally anticipated in FY25. The delay is obviously a disappointment but would appear to be a plant commissioning issue rather than demand related. New TP 117p (from 245p) reflecting lower projections plus a higher discount rate assumption of 12% (from 10%).
Ilika, Restaurant Group, Wickes, Shanta Gold, SMID Market Highlights
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Ilika, Ferguson, Restaurant Group, Wickes, Shanta Gold, Market Highlights
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In this report we focus on the opportunities in the medical device market where Ilika’s tiny thin-film solid state batteries are a key enabler for companies seeking to develop a variety of smarter, smaller and more responsive implantable medical devices. Ilika has seen enquiries from 16 medical device developers and will have manufacturing capacity for c300,000 devices p.a. before licensing. The potential is significant given there are 2 million knee/hip implants p.a. and c30m fatalities from chronic heart disease
Ilika has released a first half trading update in which it highlights the fund raise this summer for Goliath, the progress on installing equipment ahead of the Stereax ramp, and headline financials. Our previous forecasts were posted in April’s in-depth report (David market cap, Goliath opportunity). Herein we take the opportunity to update our numbers to reflect the fundraise, as well as the fact that 1Q22 will be spent qualifying the new micro-batteries meaning sales and production will only partly ramp next FY now. We remain confident about sales growth over the coming years and expect revenues of £11m in FY24. BUY.
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Ilika, Lookers, Motorpoint, Unite, KAZ Minerals, Hammerson, SolGold, Cake Box, SMID Market Highlights
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Ilika, Lookers, Motorpoint, Unite, KAZ Minerals, Hammerson, SolGold, Cake Box, Market Highlights
In this report we provide an update on the developing customer interest for Ilika solid-state micro-batteries for medical devices and smart machinery sensors and the valuable IP it is building in Goliath cells for future EVs and cordless appliances. We illustrate there are few rivals for its millimetre sized batteries and few with a longer history in larger cells. We ascribe a higher value now to Goliath following recent progress in EV markets and validation for solid-state from leading car makers VW and Toyota and the much higher market capitalisation commanded by QuantumScape. TP now 320p (c£450m market cap).
IKA has revealed in-line headline results for the 6m ending October today, ahead of full results on 14/1/21. Since the FY results published in July there have been three positive developments in relation to the longer term opportunity in large format batteries.
Last Thursday, solid-state battery maker QuantumScape (QS) became the latest transport technology play to announce a fastrack US public listing. QS had already attracted funding from VW and Bill Gates and Vinod Khosla's venture funds and will end up with over $1bn of net cash once the SPAC merger deal completes in 4Q.
Today's FY19/20 financial results are uneventful because Group financial headlines had been reported already and because the past fiscal year and this year is about putting in plans for scaling up microbattery production and progressing grant funded EV battery programmes, not major revenue expansion. The company has said it has sufficient customer interest from medtech and industry 4.0 device manufacturers to sell 100,000 and then 200,000 batteries by FY23 and late decade which will translate we believe into £12m and £25m revenues and EBITDA of £1.7m and £7m.
On May 14, the Chinese authorities announced new battery safety standards for battery electric cars and buses, effective 1st January 2021, that potentially has major ramifications for the shape of battery materials demand. One of the new measures requires that tested cells are able to sustain a thermal runaway trigger for 5 minutes before the battery pack catches fire.
We are reinstating coverage with a Buy rating and price target of 50p following the recent £15m share placing to fund production scale-up for micro-batteries. Our TP reflects a DCF of the micro-battery business which has sufficient customer interest to achieve over £12m annual sales by FY23 and £25m later this decade we believe, generating EBITDA of £1.7m and £7m respectively.
ilika has announced details of a c.£17m proposed placing and open offer. This will be used to fund investment in the scale-up of production for its solid state micro-batteries using wafer manufacturing partners as well as strengthening the balance sheet and providing additional working capital.
CEO Video - Ilika, Volution Group, Staffline Group, British American Tobacco, Pearson, AJ Bell, Integrafin, Safestay, Market Highlights
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CEO Video - Ilika, Volution Group, Staffline Group, AJ Bell, Integrafin, Safestay, SMID Market Highlights
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In these three short videos Ilika CEO, Graeme Purdy discusses Ilika’s involvement in one of the areas of the EV battery market attracting most interest – solid electrolytes. He discusses the potential advantages when a solid electrolyte replaces a liquid solvent electrolyte, the target applications Ilika is addressing and the main adoption challenges.
Solid state battery developer Ilika made good commercial progress in FY19 growing revenues by 26% whilst trimming net losses slightly. Cumulative corporate enquiries reached ca.115, up from ca.95 a year earlier.
Solid state battery developer Ilika made good commercial progress in 1H (6m ending October) whilst maintaining operating losses at a similar level to the year earlier. By the end of 2018, engagements had reached ca.90 corporates up from ca.70 a year earlier.
Yesterday the UK government business minister Greg Clark announced a package of grant funding offers, amounting to £22m, to UK based companies involved in advanced battery technologies and automotive engineering including Ilika, McLaren Automotive, Williams Engineering and Aston Martin. Ilika has been offered £4.1m of funding relating to two projects leading one and and being the largest awardee in the other.
The shares have halved over the last year, hurt by restructuring at two major shareholders and retail investor disappointment that a first licensing deal has yet to emerge. We estimate the current cost of Ilika material research equipment is £10m, so its IP in solid state batteries (SSBs) for industrial IoT (IIoT) applications is £7m.
Keystone Law Group— full service law firm with over 250 self-employed lawyers . Due late Nov. Offer TBA Beeks Financial Cloud -niche cloud computing and connectivity provider for automated (algorithmic) trading in Forex and Futures financial products . Raising £7m. Mkt Cap c.£24.5m. Due 27 Nov. FYJun17 rev £4m. Profitable at operating level. City Pub Group - owner and operator of an estate of 34 premium pubs across Southern England. £30m raise. Consistent track record of strong revenue and EBITDA growth, with a three year CAGR from FY14 to FY16 of 34.9% and 44.8% respectively, and an EBITDA margin of 14.7% in FY16. Due late Nov. Offer TBA. Boku - Independent direct carrier billing company. Revenues were up 21% to US$10.2 in HYJun17. Q32017, revenues grew to $6.5m, up by 44%. The Company also saw continued growth across all of its key metrics: user numbers, total payment and a positive adjusted EBITDA for the month of September 2017. Due 20 Nov. Offer raising £45m at 59p with mkt cap of £125.9m. Ten Lifestyle Hldgs. Technology-enabled lifestyle and travel platform providing trusted concierge services to the world's wealthy. Net revenue increased from £20m in the year ended 31 August 2015 to £33m in the year ended 31 August 2017, a compound annual growth rate of 29%. Offer TBA, expected 27 Nov 2017. OnTheMarket—Intention to float on AIM to raise c.£50m which will be used to fund the growth of the OnTheMarket.com portal, already the third biggest UK residential property portal provider. Expected valuation £200m to £250m. OG Graphite, brownfield development-stage graphite company focused on the reactivation of its wholly-owned Kearney natural flake graphite mine and mill located 280 km north of Toronto, Canada. Offer TBA, expected mid November. Shefa Yamin minerals company focused on the exploration for precious stones in Northern Israel. Net Proceeds will be used to advance the Company's mining project. Offer TBA. Sabre Insurance Group—Private motor insurance underwriter, founded in 1982. Raising c.£213m. C.£206m to purchase outstanding preference shares. Generated gross written premiums in 2016. Due December. Bakkavor—After being postponed on 3 November the provider of fresh prepared food has today set its offer price at 180p. Primary raise of £100m plus vendor sale in combination totalling 25% of enlarged capital. Mkt Cap c.£1bn. FY 16 Revenue: £1,763.6 million. FY 16 Adjusted EBITDA: £146.4 million . Due 16 Nov Aviva Investors Secure Income REIT - Targeting £200m raise. Will invest in a diversified portfolio of high quality, long-lease commercial real estate assets located within the UK and leased to predominantly investment grade tenants. Due Dec. Cabot Credit Management -one of the largest credit management services providers in Europe and the market leader in the UK and Ireland with total 120-Month ERC of £2.2bn. Raising c.£195m. Offer TBA. Due November. M7 Multi-Let REIT—Intends to raise up to £300m at 100p. Aims to acquire and hold a portfolio of UK regional light industrial and regional office assets diversified by geography, asset type and tenants that is expected to generate stable income returns and, where appropriate, offer the potential to leverage and enhance returns through active asset management initiatives. Due 30 Nov. En+, international vertically integrated aluminium and power producer with core assets located in Russia. Priced at $14 per GDR. $1.5bn offer of which $0.5bn primary to pay down debt. Dual listing in Moscow. Unconditional dealings 8 Nov.
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Ilika continues to make excellent progress on commercialising its solid-state battery platform, and today announced the launch of Stereax P180, a version of Ilika’s Stereax™ technology designed to operate in hostile environments, including across an extended temperature range from -40°C to +150°C. Incumbent lithium ion technology has both polymer and liquid in its core design, which limit the environment and temperature range where it can operate safely and effectively. Solid-state architecture obviates such limitations, and Stereax P180 is the first platform being made available to the market offering robust extended functionality. Stereax P180 comes at a time when the Industrial Internet of Things (‘IIoT’) is exploding, intensifying the market pull for battery technology stable in more extreme environments. Accenture forecast IIoT will boost global GDP by $15T by 2030. As well as the IIoT, Stereax P180 offers stable battery solutions in growth applications in the automotive, aerospace and infrastructure markets.
On March 9th Ilika announced a $1m deal with its established blue chip partner Toyota in ‘a new application area’. Yesterday’s RNS reveals, via an announcement from the Toyota Research Institute (‘TRI’), that the new area is the application of artificial intelligence (‘AI’) to rapid materials discovery. TRI is investing $35m over four years with Ilika, and a handful of world-class R&D institutions, which includes Stanford and MIT, to incorporate AI into materials discovery. The goal of the program is to significantly accelerate the process further, and increase the number of materials made, thus increasing the number of new improved materials discovered. As the world’s largest automotive company, Toyota’s key initial target areas are advanced materials for battery and fuel-cell catalysts, which improve performance and reduce emissions. Toyota targets reducing its new vehicle emissions by 90% by 2050. TRI was established in 2015 and is wholly owned by Toyota North America. Ilika is the only project partner cited outside the USA.
Ilika continues to make progress on the commercialisation of its Stereax™ solid-state battery platform, as well as the continued delivery of its materials discovery, development and optimisation expertise to blue-chip OEMs, with recent contract awards that include renewals and extensions from Seagate and Toyota. In our interim update on January 9th, we flagged how timing uncertainty in first upfront licensing payments from high prospect solid-state battery commercialisation OEMs may affect c.50% of our FY forecasts. In today’s trading update Ilika has been cautious, and predicts first licensing payments will not land before year end. We reduce FY17 and FY18 revenue forecasts by 56% and 40% to £1.1m and £2.9m respectively, which feed through to a reduction in FY18 closing cash balance of 51% from £6.9m to £3.4m. We reiterate this scenario was well flagged, and remain highly positive on the prospect of Ilika commercialising its world-class, solid-state battery platform in its high-growth, target mass markets.
This morning’s announcement from Ilika, although relatively modest in initial top line impact, has significant commercial implications in the medium to longer term. Galvani was established to advance bioelectronic medicine, an emerging scientific field aimed at using tiny implantable devices to control electrical signals in nerves to treat a range of debilitating chronic diseases. Galvani combines GSK’s world-leading drug discovery and disease biology expertise, with Verily’s expertise in the miniaturisation of low-power electronic devices, data analytics and software development for clinical applications. Veriliy – formerly Google Life Sciences – was set up by Google founders Larry Page and Sergey Brin for the advancement of life sciences. Solid-state battery technology is really currently the only existing low-power source choice for intra-body bioelectronic medical applications for the following reasons: i. There is no potential for the leakage of harmful liquid electrolytes into the human body chemistry. ii. Solid-state battery chemistry can be miniaturized to a further extent than liquid based chemistries, due to negligible leakage currents and the capacity to maintain much smaller charges for much longer times. Ilika’s Stereax™ solid-state battery platform has been selected for the development effort. For bioelectronics applications of this nature batteries are charged wirelessly in situ using magnetic fields in a process known as nearfield charging. The first stage of this development is being funded by Innovate UK and the Medical Research Council.
In its trading statement on November 23rd 2016, Ilika referenced an existing blue-chip customer had given notice of intent to enter into a 12 month materials development program in a new application area worth $1m to Ilika. This morning it confirms that the deal with Toyota has successfully come to fruition and been signed. This is excellent news for Ilika and its shareholders for the following reasons. Firstly, it shows the strength of the company’s relationship with Toyota, and the belief Toyota has in Ilika’s world-class materials discovery platform. Secondly, it is further proof that the company’s core rapid materials development and optimization model for blue chip clients is in good health. Thirdly, that it is an ‘initial’ project, with the likelihood of follow-on and related programs in the same application area.
Ilika announced to the market this morning that it has been awarded £366K of a £576K Innovate UK grant to lead a collaboration with blue-chip electronic wafer processing company Seagate, to develop photonic materials and processes for improved hard disk drive (‘HDD’) technology. More important than the modest boost to Ilika’s top line, this commercial development is bluechip validation of Ilika’s core rapid materials discovery and optimization business model in high-tech, high-growth areas other than solid-state batteries.
Ilika’s interims today show the company is executing its solid-state battery commercialisation strategy as planned. We leave FY17 & FY18 forecasts unchanged and look for first OEM licensing deals and associated up-front payments in the coming months. The very low leakage currents, high energy densities, extended life span and hot operation capability of Ilika’s, state-of-the-art, StereaxTM solid-state platform, compared to incumbent lithium ion technologies, open up lucrative, high-growth, miniaturized (1mm2), elevated temperature and energy harvesting sensor markets. Examples of such are internet of things (‘IoT’), bio-electronic, industrial and transport applications. Ilika is rightly focussing (c.75% of resource) on solid-state battery commercialisation. The remaining resource is focussed on core materials development contracts in other areas, including aerospace engine super-alloys, electronic materials, and lithium-sulphur batteries for scale storage, with BAE systems & GKN, Seagate and Johnson Matthey respectively.
Ilika announced to the market this morning that it has been awarded £320K of a £500K Innovate UK grant to lead a collaboration with two iconic blue-chip companies to develop an autonomous energy harvesting power source, which is then used to power a wireless sensing platform. The two companies are electronics giant Sharp, who will provide the solar energy harvesting technology, and automotive legends McClaren, through its Applied Technologies division, who will provide the sensing and integration technology, and will look for initial applications in motor sport and automotive. Follow on potential markets are healthcare and wearables, as the Internet of Things (‘IoT’) explosion gathers pace. Ilika will provide its StereaxTM solid-state battery technology for the storage element of the device. The aim is to create a robust, maintenance-free, small-footprint device that can operate in demanding environments including up to 100°C. Conditions that solid-state batteries are far more able to handle than incumbent lithium ion technology.
Ilika released a positive trading statement this morning for the period to October 2016 ahead of its FY17 interim results, scheduled to be announced on January 7 th 2017. Excellent post-period events include the intent to award Ilika 3 solid-state battery development grants aggregating £1.4m, and a likely $1m materials development contract from an existing blue-chip OEM customer. The OEM development contract is in a non-battery application area, and demonstrates that as well as its focus on solid-state battery commercialization, Ilika’s core commercial materials development engine across a number of hightech sub-sectors continues to function well. Ilika expects all these programs to begin before the full year end in April, and we leave our forecasts unchanged.
Yesterday’s announcement by Ilika that the successful £6.3m (circa $8m) equity fundraise has been approved at EGM is excellent news for the company. The capital raise is the next key step in the commercialisation of its world-class, Stereax™ solid-state battery technology. It provides the necessary balance sheet strength to give management the chance to maximise value for llika and its shareholders ahead of key OEM partner engagement negotiations for the full commercialisation of its state-of-the-art platform. The very low leakage currents, high energy densities and extended life spans of Ilika’s solid-state platform, compared to incumbent lithium ion based technologies, make it an excellent fit for small scale (1mm2 ), elevated temperature and energy harvesting sensor technologies. Examples of such are internet of things (‘IoT’), bio-electronic and transport applications
Ilika’s announcement this morning that it has been selected as a key technology partner in an Innovate UK funded, Johnson Matthey (“JM”) led program, to develop advanced anodes for Lithium Sulphur batteries is extremely positive. As well as a modest cash injection for Ilika, the announcement is relevant for the following reasons:
In April 2016 Ilika launched its first commercial solid-state battery product class, the Stereax™M250, at the IDTechEx exhibition in Berlin. This was a watershed event. Ilika’s state-of-the–art battery is designed to power Internet of Things (‘IoT’) devices, a 15bn unit market in 2015 currently growing at 200%/y, for which improved, wireless, power solutions of the specification that Ilika is able to produce are sought. A pipeline of interested blue-chip customers is growing rapidly, and in reaction to market pull, Ilika is designing reduced power and footprint Stereax™ M class products for the semiconductor and medical device industries. Follow-on Stereax™ C class and Stereax™ P class platform launches are also planned over the next 12- 18 months. Stereax™ C utilises Ilika’s unique ability to stack solid state-cells for same-footprint, increased-capacity markets, and Stereax™ P is designed for high temperature environments including certain automotive applications. Ilika’s 2016 finals were in-line and maiden 2018 forecasts reflect the growth we anticipate in Ilika’s solid-state battery commercialisation program.
On March 15 2016 Ilika, the rapid materials discovery and optimization specialist, announced it would be launching a commercial solid-state battery for IoT applications at the IDTechEx Conference in Berlin on the 27th of April this year. The StereaxTM M250 was duly launched this week, and early reactions are extremely positive. ARM vice president of segment marketing Charlene Marini said: “Ilika’s StereaxTM battery technology can enable ‘leave for life’ IoT devices capable of producing data over extended periods with minimal maintenance. This is where the IoT starts to shed the power tether that could restrain its spread into new and exciting off-grid applications.” Ilika’s StereaxTM batteries use state-of-the-art patented materials and processes to achieve superior energy density, up to 40% improvement on current solid-state solutions, and increased operating temperature range to over 100°C, 30°C higher than existing solid-state products. Ilika’s batteries do not contain any free lithium, which makes them more moisture resistant.
Ilika, the rapid materials discovery and optimization specialist, announced this morning that it will be officially launching a commercial solid-state micro battery at the IDTechEx Conference in berlin on the 27th of April this year. This is a world first, and has been made possible by Ilika’s proprietary process that is capable of producing stacked, solid-state battery architecture. The micro batteries are set to revolutionise how Internet of Things ("IoT") sensors are powered in multiple growth markets, including medical, smart buildings, smart homes and automotive. This constitutes the on-schedule delivery of the first stage of Ilika’s public domain commercialisation program for its solid-state battery IP, that will ultimately be scaled-up to power larger, consumer electronic devices including tablets and smart phones. This is a fantastic achievement, and puts Ilika firmly on the map as a world-leader in the race to commercialise solid-state battery technology and capture global growth mass markets.
Following the December 2015 trading update, Ilika’s interims are in-line to deliver FY16 forecasts. Very small batteries with extended lifetimes will be a key differentiator in the rapid growth areas of wearables, smart homes and the Internet of Things (“IoT”). In all other areas of technology and consumer electronics, including tablets and smart phones, the restrictions of recharge necessity are something with which we all identify. The market pull for superior battery technology continues to intensify. Mass-market commercialisation of solid-state batteries offers a step-change; enabling lighter, safer, batteries that charge 6x faster, last 4x longer, and have over 2x the energy density of the highest performance lithium ion incumbents. Ilika is a world-leader in solid-state battery commercialisation. Under the guidance of recently appointed Chairman Mike Inglis, ex Commercial Director of ARM holdings, Ilika has a licensing strategy for its world-class solid-state battery IP designed to protect against giving away too much too early, optimising the considerable value of its IP and processing know-how. We fully support this strategic shift, and how it shapes our near-term forecasts.
Proponents of battery technology have long decried its slow development when compared to the exponential growth of microchip processing capacity over the past few decades.
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Ilika is a world leader solid-state batteries, with an IP commercialisation program progressing strongly. The rapid rise of smart homes and the Internet of Things (“IoT”), as well as advancement in all other areas of technology and consumer electronics, further intensifies the market pull for superior performing batteries. The limitations of recharge necessity are something with which the whole world identifies. Mass-market commercialisation of solid-state batteries will be a step-change; enabling lighter, safer, batteries that charge 6x faster, last 4x longer, and have over 2x the energy density of the highest performance lithium ion incumbents. To extract full value from an excellent position, Ilika has shifted the majority of its resource into its battery program, away from executing materials discovery contracts for blue- hip clients in other sectors. Under the guidance of Chairman Mike Inglis, ex Commercial Director of ARM holdings, Ilika has also put in place a licensing strategy for its world-class solid-state battery IP that is designed to mitigate against transferring value too early, and hence too cheaply. We fully endorse this strategic shift and how it alters the shape of our near-term forecasts.
Ilika, the rapid materials discovery and optimization specialist, announced this morning that the patent on its proprietary vapour deposition processing route for solid-state battery production direct from the constituent elements that enabled the key technological breakthrough of stacked battery architecture has been granted in China. This is a significant strengthening of the companies IP position in the area that has the potential to bring about a step change in battery performance and take large and growing global markets in sensors and consumer electronics including mobile phones.
Ilika, the rapid materials discovery and optimization specialist, announced this morning that it has been awarded a £466K grant to lead a 3 year project on development of self-healing alloys and production processes designed for 3D printing with BAE Systems and GKN as project partners.
An excellent result demonstrating the quality of Ilika’s IP and the diligence with which the company protects its IP portfolio to maintain value.
This morning’s announcement by Ilika, the rapid materials discovery and optimization specialist, is important, as it reminds us that despite its strong current focus on solid-state battery commercialization, Ilika’s state-of-the-art rapid materials discovery and optimization platform, which sits at the heart of the business, is capable of generating revenue and valuable IP in multiple high-tech industries. Ilika has been awarded a circa £0.2m grant by the UK government technology and science advancement body ‘Innovate UK’, to conduct a two year development project on smart nanomaterials for the next generation of electronic data storage. The project is in partnership with Seagate, the market leading company in hard disk drive (‘HDD’) magnetic recording technology, and the university of Southampton.
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