IKA Ilika Plc

Ilika plc

("Ilika" or the "Company")

Trading Update & Notice of Results

Analyst and Investor presentations

Ilika (AIM: IKA), an independent global expert in solid-state battery technology, provides updates on trading, Stereax® manufacturing, and Goliath product development, as well as notice of its full year results for the year ended 30 April 2024 (the "Period").

Trading Update for FY24

Unaudited trading for the year ended 30 April 2024 has been in line with management expectations. The Company expects to announce revenues of approximately £2.1m (2023: £0.7m), and an EBITDA loss excluding share-based payments of around £4.5m (2023: EBITDA loss of £7m). Cash and cash equivalents at the period end were £11.9m (30 April 2023: £15.8m).

Operational Update

During the Period, significant progress was made with transferring manufacturing to Cirtec Medical LLC ("Cirtec") under the licence of Ilika's thin-film Stereax miniature solid-state batteries ("SSBs") for powering medical devices and industrial wireless sensors in specialist environments.

In addition, the Company achieved significant milestones in developing its large-format Goliath cells for electric vehicles ("EV") and cordless appliances. Recently the Company also announced that Agratas, a Tata Group global battery business, has joined its SiSTEM grant funded scale up activity.

In parallel to joining the SiSTEM project, Ilika and Agratas have entered into a 12-month agreement that will facilitate interactions between the companies to support Ilika's journey to its D8 (50Ah, chemistry frozen) development milestone in H1 2025 - which will underpin licencing opportunities, alongside exploring wider collaboration opportunities between the two parties.

On 10 May 2024, Ilika also announced a capital raising activity comprising of a conditional placing of new ordinary shares, raising gross proceeds of £1.7m, and an open offer for new ordinary shares, with the intention to raise up to an additional £1.7m, to provide additional support for the development of its Goliath solid-state battery.

Notice of Results

Ilika expects to announce its audited full year results for the year ended 30 April 2024 on Thursday 11 July 2024. 

Analyst Briefing

The management team will be hosting an in-person analyst briefing on the day, Thursday 11 July 2024, at 9.30am. Analysts who wish to attend should contact Nick Rome at Walbrook PR on +44(0)20 7933 8780 or email ilika@walbrookpr.com to register.

Investor Presentation

An investor presentation will be held on the day, Thursday 11 July 2024, at 4.30pm and will be hosted through the digital platform, Investor Meet Company. Investors can sign up to Investor Meet Company for free and add to meet Ilika plc via the following link: https://www.investormeetcompany.com/ilika-plc/register-investor or for more information please contact Walbrook PR at ilika@walbrookpr.com. 

About Ilika plc - https://www.ilika.com

Ilika specialises in the developing and commercialisation of solid state batteries. The Company's mission is to rapidly develop leading-edge IP, manufacture and license solid state batteries for markets that cannot be addressed with conventional batteries due to their safety, charge rates, energy density and life limits. The Company achieves this by using ceramic-based lithium-ion technology that is inherently safe in manufacture and usage, higher thermal tolerance and easier to recycle which differentiates our products from existing batteries.

The Company has two product lines. Its Stereax batteries which are designed for powering miniature medical implants, industrial wireless sensors and specialist internet of Things (IoT) applications and the Goliath large format batteries designed for EV cars and cordless appliances.