Ilika Plc - ILIKF stock
Ilika is a company that specializes in the development and commercialization of solid-state battery technology. It was founded in 2004 and is headquartered in the United Kingdom, with additional operations in the United States and Asia. Ilika's primary focus is on the design, development, and manufacture of advanced materials for batteries and other energy storage devices.
The company has developed a unique high-throughput methodology, called the "Accelerated Materials Innovation," which enables the rapid screening and optimization of materials for various applications, including batteries, fuel cells, and catalysts. This approach allows Ilika to accelerate the discovery and development of new materials, reducing the time and cost traditionally associated with research and development.
Ilika's main product is its solid-state battery technology, which offers several advantages over conventional lithium-ion batteries. Solid-state batteries use solid electrolytes instead of liquid or gel electrolytes, which makes them safer, more stable, and potentially more energy-dense. These batteries have the potential to significantly improve the performance and safety of various electronic devices, electric vehicles, and renewable energy systems.
The company's solid-state battery technology has gained recognition and partnerships with leading companies in different industries. Ilika collaborates with major automotive manufacturers, consumer electronics companies, and energy storage system providers to develop and integrate its solid-state batteries into various applications. This includes partnerships with companies such as Toyota, Honda, and the UK Battery Industrialization Centre.
In addition to solid-state batteries, Ilika also develops other advanced materials, including supercapacitors, hydrogen storage materials, and catalysts for fuel cells. The company's expertise in materials discovery and optimization allows it to explore a wide range of energy storage and conversion technologies.
Solid State Batteries for Transportation
Ilika has developed Goliath, an advanced solid-state battery technology specifically designed for electric vehicles and cordless consumer electronics. These batteries utilize a solid electrolyte made of oxide and a silicon anode, offering significant safety advantages during manufacturing, storage, and usage. Compared to traditional lithium-ion batteries, Goliath cells can withstand higher temperatures, which simplifies the battery management system. As a result, vehicles equipped with these batteries can achieve a higher cell to pack ratio, leading to lighter weight, increased energy and power density, extended range, and faster charging capabilities.
In addition to our research and development efforts, we are actively preparing for the scaling up of our operations. Our initial plan is to scale up to the MWh (megawatt-hour) level, and we have already established a Framework Agreement with the UK Battery Industrialisation Centre to facilitate this process. Our ultimate goal is to license our technology for Giga (gigawatt) scale production.
With the support of funding from the APC's Automotive Transformation Fund, we collaborated with Comau, a part of Stellantis, to assess the costs associated with equipment and processes involved in a three-stage scale-up plan. This plan encompasses scaling up from kWh (kilowatt-hour) to MWh and eventually to GWh (gigawatt-hour). The study confirmed the feasibility of using existing technologies and machines in scaling up the production of Goliath batteries for electric vehicles.
Solid State Batteries for Healthcare
Ilika manufactures Stereax, a compact solid-state battery technology specifically designed for active medical implanted devices, small wearable devices, and industrial IoT sensors. These batteries are ultra-thin, measuring only millimeters in scale, and are completely safe and rechargeable. Importantly, Stereax batteries do not contain any liquid or polymer components.
Stereax batteries offer numerous advantages for innovative product designers. They provide a long lifespan with the ability to be recharged thousands of times. The batteries also have very low leakage, measured in nanoamperes (nA), ensuring efficient power management. Additionally, Stereax batteries come in a miniature rectangular form factor, similar to integrated circuits (ICs), making them ideal for applications where space is limited. The first product in the Stereax line will have a volume of 20 mm3, further emphasizing its compact size.
Ilika has entered into a ten-year manufacturing license agreement with Cirtec Medical for the production and commercialization of miniature Stereax solid-state batteries. The deal involves Cirtec, a full-service outsourcing partner located in Brooklyn Park, Minnesota, taking on the responsibility of manufacturing Ilika's millimeter-scale batteries at its facility in Lowell, Massachusetts, USA. According to the terms of the arrangement, the two companies will initially share profits, followed by Cirtec bearing royalties for manufacturing in line with industry standards. While Ilika will retain control over the cathode deposition process and battery formation at its UK facility, it will subcontract these services to Cirtec. Furthermore, some machine sets will be transferred to the US for temporary operation by Cirtec, beginning in the latter half of 2023.
On 10 September 2021, OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 11000 U.S. and global securities, announced Ilika PLC. (LSE: IKA) (OTCQX: ILIKF) has qualified to trade on the OTCQX® Best Market. Ilika was upgraded to the OTCQX from the Pink® market. Graeme Purdy, Ilika plc CEO commented, "We are very pleased to be graduating to the OTCQX Market. This will provide our valued US investors with greater liquidity and execution services through OTCQX. It will also help us to build our visibility among US investors." Galanopoulos & Company was Ilika’s OTCQX sponsor.
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The leadership team at Ilika Plc includes Prof. Keith Jackson (Chairman), Graeme Purdy (CEO), Stephen Boydell (Finance Director), and Prof. Brian Hayden (Chief Scientific Officer). Graeme Purdy and Prof. Brian Hayden have been part of Ilika since its inception with Stephen Boydell joining the team in 2009. The leadership team at Ilika Plc is a group of well-seasoned executives with years of experience and technical expertise in their respective domains.
On 22 February 2022, Ilika Plc announced that the current chief financial officer, Steve Boydell, would step down from his role with effect from July 2022. The company stated that Boydell was leaving to pursue other opportunities. In order to ensure an orderly transition, it is said that Boydell would remain a part of the company until after the completion of its current financial reporting period. A statement by the company revealed that they are already looking for successors with announcements to be made within due time. “Steve has been a thoroughly dependable member of the management team, supporting us through our IPO and subsequent placings and we wish him all the best with his future career,” said chief executive Graeme Purdy.
- Yahoo Finance. ILIKF Stock Profile. Accessed on 6/8/2023.
- Ilika.com. Large Format Solid State Batteries. Accessed on 6/8/2023.
- Ilika.com. Micro Solid State Batteries. Accessed on 6/8/2023.
- TS2. Ilika Signs Ten-Year Manufacturing License with Cirtec Medical for Stereax Batteries. August 4, 2023.
- PRNewswire. OTC Markets Group Welcomes Ilika PLC. to OTCQX. September 10, 2021.
- Ilika.com. Leadership. Accessed on 11/12/2022.
- Proactive Investors. Ilika announces Steve Boydell will leave his position as CFO. February 25, 2022.
OTC Market: ILIKF • Industry: Green Tech