Ilika PLC (AIM:IKA, OTCQX:ILIKF) CEO Graeme Purdy joined Proactive's Stephen Gunnion with details of the company's milestones over the past year.
Following the release of its full-year results to 30 April 2024, Purdy outlined the achievements in Ilika's Stereax and Goliath battery programs, starting with the successful shipment of M300 products and a landmark ten-year licensing agreement with Cirtec Medical. This deal includes the transfer of Stereax production technology to Cirtec's facility in Lowell, Massachusetts.
Purdy also highlights advancements in their Goliath program, including reaching lithium-ion energy density parity and scaling up production processes to demonstrate industrial relevance. He discusses the delivery of P1 prototypes to tier-one customers for validation and the positive feedback from these collaborations.
The Cirtec deal is emphasised as a pivotal move for Stereax's market entry, leveraging Cirtec’s robust manufacturing and OEM relationships. Purdy also touches on the regulatory environment’s role in supporting energy transition technologies, expressing optimism for a sector resurgence.
Ilika’s continued investment in its facilities, such as the recent upgrades for handling advanced materials and the commissioning of larger-scale equipment, showcases its dedication to innovation. Purdy also mentioned a significant £2.7 million project with Mpac Group (LSE:MPAC) plc and UK Battery Industrialisation Centre to build an automated assembly line for EV cells.
