LIBERUM: CEO Video: Graeme Purdy, Ilika
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.
17 Dec 19
Small Cap Feast
Kaspi.kz, the largest Paym ents, Marketplace and Fintech Ecosystem in Kazakhstan w ith a leading m arket share in each of its key products and services, has postponed its Initial Public Offering due to unfavourable market conditions. Registration document approved for Helios Towers. The Group provides essential network services, flexible infrastructure solutions and reliable power supply to mobile network operators in five African growth economies. Revenue increased 7 per cent. year-on-year to US$191m (H1 2018: US$178m), with Adjusted EBITDA up 15 per cent. year-on-year at US$99m (H1 2018: US$86m) for the six months ended 30 June 2019. Pricing rumoured at 115p to 145p implying valuation of up to $1.8bn
IKA CCS SGM DDDD SPA PPH SOLO SO4 RQIH QFI
08 Oct 19
STATE OF CHARGE - INVESTMENT OPPORTUNITIES IN EV CHARGING
Government bans on new fossil fueled vehicles in many major economies are likely to drive significant growth in electric vehicles (“EVs”) over the next twenty years. This will create growth in electricity demand from EV charging. The volume of energy to be supplied creates opportunities for both supply companies and generators and the provision of charge points is already creating a new industry. However, the timing of this demand puts pressure on local distribution infrastructure. While smart charging and vehicle to grid technology offer solutions, we believe these will only be partial given likely charging behaviour and as a result there will be demand for additional grid capacity and for other solutions. These other solutions include charger located storage and distributed generation.
IKA CNA NG/ YU/ DRX GOOD RED SMS AFC
01 Oct 19
Small Cap Feast
AMRYT PHARMA PLC— a biopharmaceutical company focused on developing and delivering innovative new treatments to help improve the lives of patients with rare or orphan diseases have raised $60m before expenses and will relist on the AIM Market on the 25/09/2019
IKA IMMO MERC IQG DUKE ZIN FUM AGL ULS ODX
10 Sep 19
Small Cap Feast
Renold plc—a leading international supplier of industrial chains and related power transmission products, announced that it will cancel the listing of the Company from the premium segment and apply for admission on AIM. Expected 06 June 2019. Alumasc Group plc, the premium building products, systems and solutions group, has announced its intention to move from the Premium Segment of the main market to AIM. Expected market cap of £33.4m. Expected 25 June 2019
IKA ALBA NET PRTC SPSY ITX AVAP RDT CGNR VDTK
29 May 19
Small Cap Feast
Techniplas –global producer and support services company providing highly engineered and technically complex components, making the supply chain to original equipment manufacturers more efficient. FYDec17 rev $515m. Loungers plc—the operator of 146 café/bar/restaurants across England and Wales under the Lounge and Cosy Club brands, announces its intention to seek admission on AIM, offer TBC, expected late April. SDX Energy plc—a North Africa focused oil and gas company, announces its intention to complete a Canadian plan of arrangement under section 192 of the Canada Business Corporations Act and will have shares de-listed from the TSX-V and admitted to trading on AIM. Expected 28 May 2019, anticipated market cap of £76m
IKA NXR FIH STCM STU PHE bmn PEG PTAL
10 Apr 19
Small Cap Feast
Techniplas –global producer and support services company providing highly engineered and technically complex components, making the supply chain to original equipment manufacturers more efficient. FYDec17 rev $515m. Diaceutics, a data analytics and implementation services company which services the global pharmaceutical industry, is looking to join AIM late March, offer TBC.
IKA MATD SML BLOE AGL KOOV QUIZ PPIX SEN SOU
07 Mar 19
LIBERUM: Ilika* - Solid battery commercial progress in 1H
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.
17 Jan 19
Small Cap Feast
Kropz, an emerging plant nutrient producer with an advanced stage phosphate mining project in South Africa, a phosphate project in the Republic of Congo and exploration assets in Ghana, is looking to join AIM. Offer TBC, expected late Nov Titon holdings—international manufacturer and supplier of ventilation systems and window and door hardware. No capital raise. Due 10 Dec. Mkt cap c.£22m. Greenfields Petroleum (TSX-V:GNF) production focused company with operated assets in Azerbaijan seeking AIM dual listing including $60m private placement. Mkt cap $12.6m CAD Finncap—proposed acquisition of M&A adviser Cavendish Corporate Finance and AIM admission. Offer TBA. Due early Dec Crossword Cybersecurity PLC* (NEX:CCS)—the technology commercialisation company focusing exclusively on the cyber security sector is investigating the possibility of AIM admission. The Company is proposing to raise up to £2.25 million before the end of December, conditional on Admission. The Panoply parent company of a digitally native technology services group founded in 2016 with the aim of identifying and acquiring best-of-breed specialist information technology and innovation consulting businesses across Europe, is looking to join AIM. Offer TBC, expected late November 2018.
IKA BMV HW/ KGH PLUS TPG 9537 CHRT MNO BRD
20 Nov 18
Small Cap Feast
Greenfields Petroleum (TSX-V:GNF) production focused company with operated assets in Azerbaijan seeking AIM dual listing including $60m private placement. Mkt cap $12.6m CAD Wentworth Resources— oil and gas exploration and production company, with assets in the onshore Rovuma Basin of East Africa. Introduction only. Mkt Cap c £50m . Due today Finncap—proposed acquisition of M&A adviser Cavendish Corporate Finance and AIM admission. Offer TBA Kropz PLC—an emerging plant nutrient producer with an advanced stage phosphate mining project in South Africa, a phosphate project in the Republic of Congo and exploration assets in Ghana. Looking to join AIM, offer TBC, market cap TBC. Due Late October. Crossword Cybersecurity PLC* (NEX:CCS)—the technology commercialisation company focusing exclusively on the cyber security sector is exploring its options in relation to a potential move to the AIM market of the London Stock Exchange which, if it were to proceed, would likely take place over the next few months. The Panoply parent company of a digitally native technology services group founded in 2016 with the aim of identifying and acquiring best-of-breed specialist information technology and innovation consulting businesses across Europe, is looking to join AIM. Offer TBC, expected late November 2018.
IKA EAH 88E BOD SPO BMK BOTB AEO IME TYMN
07 Nov 18
Small Cap Feast
Renalytix AI—developer of artificial intelligence ("AI") decision support and clinical management tools for improving early diagnosis, continual monitoring and drug development for kidney disease. incorporated in March 2018 as a subsidiary of EKF Diagnostics Holdings (AIM-EKF). Total fundraising in the range £21 - 25 m. Mkt cap - c. £67.5- £71.0m. Due 2 Nov. Finncap—proposed acquisition of M&A adviser Cavendish Corporate Finance and AIM admission. Offer TBA Kropz PLC—an emerging plant nutrient producer with an advanced stage phosphate mining project in South Africa, a phosphate project in the Republic of Congo and exploration assets in Ghana. Looking to join AIM, offer TBC, market cap TBC. Due Late October. Azalea Energy—oil and gas production and development company based in Louisiana, United States. Net production of 13 MMcfe/D (2,200 boepd) and total 1P proved reserves of 91 Bcfe (15.1 mmboe), 2P reserves of 111 Bcfe (18.5 mmboe) raising up to $38m, expected mkt cap over $100m. Due 29 Oct Path Investments— First acquisition of a 50 per cent. participating interest in the producing Alfeld-Elze II gas field located 22 kilometres south of Hannover in Germany. Seeking £10m raise. Due late Oct Crossword Cybersecurity PLC* (NEX:CCS)—the technology commercialisation company focusing exclusively on the cyber security sector is exploring its options in relation to a potential move to the AIM market of the London Stock Exchange which, if it were to proceed, would likely take place over the next few months.
IKA EMIS SKIN AFC SAF NEXS DEST MWE NSCI MPAC
01 Nov 18
SP Angel – Morning View
BHP (BLT LN) 1599p, mkt cap £92.8bn – Special dividend and off-market buy-back | Golden Star Resources (GSC CN) C$4.6, Mkt Cap C$505m – Wassa underground contributes to Q3 results | Ilika (IKA LN) 18p Mkt. Cap. £18m – Ilika improves Bluetooth battery performance | KEFI Minerals* (KEFI LN) 1.5p, Mkt Cap £8.0m – Saudi Arabia exploration licenses renewal | Metals Exploration (MTL LN) 1.4p, Mkt Cap £29m – Typhoon Rosita update | Randgold Resources (RRS LN) 6180p, Mkt Cap £5.84bn – Merger receives SA Competition Tribunal approval | Barrick Gold (ABX US) US$12.55, Mkt Cap US$14.7bn | RioZim – closes three mines in Zimbabwe due to shortage of US dollars
IKA BHP GSC KEFI MTL RRS ABX
01 Nov 18
LIBERUM: Ilika - Government funding offer for SS auto battery development
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.
13 Jun 18
LIBERUM: Ilika Initiation - Undervalued solid state battery pioneer
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.
09 May 18
Small Cap Breakfast
Kore Potash— advanced stage mineral exploration and development company whose primary asset is its interest in the Sintoukola Project, a potash project located in the Republic of Congo. ) Measured, Indicated and Inferred Mineral Resource of 5,953Mt at an average grade of 22.0% KCl. Offer TBA. Due end March. Perfomatrix PLC, a global end to end Performance Marketing technology and services company headquartered in the UK, is looking to join AIM in early April 2018, offer TBC Crusader Resources, an ASX-listed public company incorporated in Australia, which is primarily focused on the exploration and development of gold assets in Brazil. Offer TBC, expected late March. SimplyBiz, a Financial Services Firm, looking to join AIM raising £30m via placing and £34.6m via a sale of existing ordinary shares at 170p giving a market cap of £130m. Expected 4 April Bacanora Lithium—Readmission. No new money. Mkt cap £140m. Due 21 March. the new holding company for Bacanora Minerals Ltd Core Industrial REIT—established to invest in Irish-based industrial properties, predominantly located in the Greater Dublin Area. Vendor placing and new funds to a total of €225m, Target gross proceeds €207m. Expected Mid March Polarean - Medical drug-device combination company operating in the high resolution medical imaging market. Offer TBC. Due 26 March
IKA MER NAH WYN IQE PEN RED AMPH EVG ANR
20 Mar 18
Small Cap Breakfast
Belluscura— Provider of premium medical devices at value prices to address part of the global unmet need for affordable, premium quality medical devices. Raising £7.5m to £10m. Offer TBA. Due early Dec Miriad Advertising—Global video advertising company incorporated in 2015 and is engaged in the development of native invideo advertising . 2016 rev £0.7m and £7.3m operating loss. Offer TBA Keystone Law Group— full service law firm with over 250 self-employed lawyers . Due 27 Nov. Raising £10m at 160p. Mkt Cap £50m. Revenue of £25.6 million and EBITDA of £2.1 million. In FYJan17. 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 raising £46.6m at 170p with market cap £96m. 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.
IKA NMRP STR bmn AERO GYG MPM NSCI KETL
21 Nov 17
Small Cap Breakfast
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.
IKA MYN TPG KRS ESCH FEN XTR AKR
14 Nov 17
LoopUp—The provider of conference calls and online meetings is seeking to join AIM. 2015 revs of £9.2m and EBITDA of £1.02m | Bacanora Lithium— To list on AIM around 28 Sep as holding company for TSX listed Bacanora Minerals at £100m market cap | Aura Energy—ASX listed uranium developer (ASX:AEE) expected to join AIM 6 September | Autins Group plc - The acoustic and thermal insulation specialist now looks to join AIM late August
IKA PEG COG OMI EZH MMH IQG CIRC EPO
16 Aug 17
Advanced Materials – the building blocks of Tomorrow’s World
Whether we know it or not, advanced materials are a core component in the everyday life of the everyday person. They are the key material in items we often disregard, such as printer inks and lotions, to objects which defy the laws of gravity like the Airbus A380 and London’s Shard. Furthermore, these materials are not only essential to many objects and structures, but, due to their superior qualities, are the key to the advancement of many industries. One such example is the use of carbon fibre which offers five to ten times more rigidness, stiffness, and strength than its aluminium counterpart. As a result of these impressive qualities, motorsport and athletics have improved ten-fold since their mainstream use and new records are broken every year.
IKA AGM AUTG BIOM BOY CAR CKT EMH EXO GRPH HAYD ITX CRPR MGAM NANO OXIG SYN SCE SYM VCT ZEN HDD
26 Jul 17
Ilika launches Stereax P180 solid-state battery platform for hostile environments
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.
26 Apr 17
Toyota brings artificial intelligence into accelerated materials discovery with Ilika
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.
31 Mar 17
Licensing revenue timing and recognition prompts top line forecast reduction
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.
17 Mar 17
Small Cap Brunch
REACT Group (REAT.L) | CPP Group (CPP.L) | Range Resources (RRL.L) | Adgorithms (ADGO.L) | Cerillion (CER.L) | Ilika (IKA.L) | Private & Commercial Finance Group (PCF.L) | Panmure Gordon & Co (PMR.L) | Ortac Resources (OTC.L) | Oxford BioDynamics (OBD.L)
IKA REAT CPP ALB CER PCF PMR OBD OTC
17 Mar 17
Ilika enters £1m bioelectronics deal with GSK and Verily Life Sciences partnership company Galvani Bioelectronics
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.
14 Mar 17
Ilika signs 12 month new materials development deal with Toyota
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.
09 Mar 17
Ilika receive £0.37m grant from Innovate UK to develop hard disk drive materials with Seagate Technology
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.
02 Feb 17
Interims show solid-state progress
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.
09 Jan 17
Ilika lead collaboration with Sharp and McLaren to create an autonomous IoT wireless sensing device.
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.
14 Dec 16
Small Cap Breakfast
Ultimate Products—The Telegraph reports Jim McCarthy, former chief of Poundland has been appointed Chairman of Ultimate Products ahead of a £100m listing in H1 2017. Ultimate Products owns the Beldray cleaning brand and the licence to sell Russell Hobbs and Salter electrical products in the UK. RM Secured Direct Lending - The secured direct lending fund intends to float on the Main Market on 15 December raising up to £100m
IKA MDZ BOS BOO HUNT TPG PHC VCP BOOM
14 Dec 16
Positive trading update including £1.4m of post-period solid-state battery grants
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.
23 Nov 16
Ilika successfully raises £6.3m in preparation for full commercialisation of Stereax™ solid-state battery technology
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
18 Oct 16
REDX Pharma (REDX.L) | Netcall (NET.L) | Pennant Group (PEN.L) | Alternative Networks (AN.L) | Chaarat Gold Holdings (CGH.L) | Immedia Group (IME.L) | Earthport (EPO . L) | Mercia Technologies (MERC.L) | Ilika (IKA.L) | CloudTag Inc (CTAG.L)
IKA REDX NET PEN AN CGH EPO MERC CTAG IME
27 Sep 16
Ilika receive £365k award to finance Johnson Matthey led Lithium Sulphur battery development program
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:
16 Aug 16
CAMBRIDGE COGNITION HLDGS PLC (COG LN) | CIRCLE HLDGS PLC (CIRC LN) | EARTHPORT PLC (EPO LN) | EASYHOTEL PLC (EZH LN) | ILIKA PLC (IKA LN) | MARSHALL MOTOR HLDGS PLC (MMH LN) | OROSUR MINING INC (OMI CN) | PETARDS GROUP (PEG LN) | ROXI PETROLEUM PLC (RXP LN) | UBISENSE GROUP PLC (UBI LN)
IKA PEG COG OMI CASP EZH MMH IQG CIRC EPO
16 Aug 16
Solid-state battery commercialisation on schedule; 2016 finals in line.
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.
08 Jul 16
Ilika StereaxTM M250 solid-state battery a transformational breakthrough for Internet of Things (‘IoT’) devices.
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.
29 Apr 16
Ilika launch world-first commercial solid-state battery micro battery
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.
15 Mar 16
Interims in-line. Excellent progress in solid-state battery commercialisation
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.
12 Jan 16
Trading update reflects a shift in emphasis toward commercialisation of solid-state batteries
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.
04 Dec 15
Conviviality across the Universe, Pivotal moment for ProMetic, OptiBiotix going up scale
7DIG Half Yearly Reports, AVG Final Results, BMR Potential, COS Agreement, IKA Patent grant, MGR Half Yearly Report, MXO* Half Yearly Report and Update, OBT Half Yearly Report, OPTI* Completion of Study, ORM Half Yearly Report, PLI* Meeting with US FDA, SVR Interim Results, VLG Interim Results, UNG New Contract Win .
IKA 7DIG AVG BMR COS MXO WBI OPTI PLI SVR VLG UNG ORM PMI
05 Oct 15
Chinese solid-state battery patent grant strengthens Ilika’s IP position in key market
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.
29 Sep 15
Small Cap Wrap - First light for Advanced Oncotherapy, Clinigen’s lateral thinking, Wolf unleashed in Devon
The Hybridan Small Cap Wrap is a weekly review of some of the most interesting small cap stories of the past week. Our review will usually be of those companies whose market capitalisations are less than £50m although we may occasionally cover larger companies.
IKA COG CLIN COS ECK FIF NWT BLTG SAR ORPH WLFE AVO
24 Sep 15
£466k 3D printing grant with BAE systems as project partner
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.
22 Sep 15
Ilika wins Innovate UK grant to develop smart electronic data storage materials
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.
25 Feb 15