Ilika plc Award of Scale-up Grant Funding for Goliath (0438P)

TIDMIKA

RNS Number : 0438P

Ilika plc

09 October 2023

Ilika plc

("Ilika" or the "Company")

Award of Scale-up Grant Funding for Goliath

Further funding secured from Automotive Transformation Fund, partnered with Mpac Group plc and The UK Battery Industrialisation Centre

Ilika (AIM: IKA), a pioneer in solid state battery technology, announces it is receiving further grant support to scale-up its Goliath pilot production capability. The support is being provided from the Automotive Transformation Fund ('ATF') in a 16-month, GBP2.7 million collaboration programme, of which Ilika will receive GBP400,000. In the programme, which commenced on 01 October 2023, Ilika is partnering with Mpac Group plc ('Mpac') (AIM: MPAC) and the UK Battery Industrialisation Centre ('UKBIC').

Mpac is a global engineering and service provider of automation and packaging solutions. They design, precision engineer and manufacture high-speed automation solutions within key sectors including Clean Energy. Ilika and Mpac will work closely to design, build and commission a 1.5MWh solid state battery ('SSB') assembly line capable of delivering Ilika's Goliath SSB prototype large-format pouch cells to automotive OEMs and Tier 1 suppliers. The SSB assembly line is expected to be fully operational at Ilika's facility by the end of H1 2025.

The UKBIC facility, based in Coventry, UK, provides the missing link between battery technology which has proved promising at laboratory or prototype scale and successful mass production. The UKBIC will build on the work carried out in the completed BUS100 programme by undertaking physical trials to produce Ilika's SSB electrodes at GWh scale.

The ATF is a funding programme created to support large-scale industrialisation. Up to GBP850 million of funding will be invested in developing a high-value end-to-end electrified automotive supply chain in the UK. The fund is highlighted as an important mechanism to reach targets in UK Government's 10-Point Plan for a green industrial revolution and its Transport Decarbonisation Plan.

This collaboration, codenamed Project SiSTEM, will run in parallel with Project HISTORY, announced on 26 January 2023 , which will develop prototype automotive A-sample SSBs that will be produced on the scaled Ilika pilot facility.

Graeme Purdy, Ilika CEO, stated: "Project SiSTEM builds upon previous ATF support in Project BUS100 which found that with minor adaptations, Ilika's electrodes could in principle be produced in volume on the UKBIC lines. Project SiSTEM will undertake those physical trials, proving Ilika's technology can be successfully scaled. Our collaboration with Mpac 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. This is an important step in Ilika's roadmap, enabling us to engage closer with OEMs as we start to deliver SSB cells into their test programmes."

Julian Hetherington, Director of the Automotive Transformation Fund, said: "We are delighted to be able to support Ilika's project seeking to validate higher-scale SSB manufacturing processes and which utilises the world-class facilities at UKBIC to demonstrate roll-to-roll coating of solid state materials. SSB technologies have the potential to be transformational in vehicle battery pack design due to their stable nature and open up applications possibilities at higher safe operating temperatures."

Adam Holland, Chief Executive Officer at Mpac Group plc, expressed his enthusiasm: " We are thrilled to announce our new partnership with Ilika and UKBIC after the successful award of the prestigious ATF grant for Project SiSTEM. Mpac is a market leader in complex automation, and we are eager to leverage our expertise in developing a cutting-edge innovative solution that will enable the reliable assembly of solid state batteries. This project not only demonstrates our commitment to technological advancement but also aligns with the UK government's vision for a cleaner and more sustainable world ."

Sean Gilgunn, Managing Director of UKBIC, said: " We're delighted to be working with Ilika on trials to support the development of the Company's solid state battery technology. Being able to scale up and demonstrate manufacturing innovation for battery technologies at UKBIC is a valuable resource for the UK's growing battery sector. "

The information contained within this announcement is deemed by the Company to constitute inside information for the purposes of Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310. Upon the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

 
 For more information contact: 
 Ilika plc                                                   www.ilika.com 
 Graeme Purdy, Chief Executive                             Via Walbrook PR 
 Jason Stewart, Chief Financial Officer 
 
 
 
 Liberum Capital Limited (Nomad                         Tel: 020 3100 2000 
  and Joint Broker) 
 Andrew Godber, 
 Nikhil Varghese 
 
 
 Joh. Berenberg, Gossler & Co. KG                       Tel: 020 3207 8700 
  (Joint Broker) 
 Matthew Armitt, Mark Whitmore, Detlir 
  Elezi, 
 Natasha Ninkov 
 
 
 Walbrook PR Ltd                 Tel: 020 7933 8780 / Ilika@walbrookpr.com 
 Lianne Applegarth                                      Mob: 07584 391 303 
 Nick Rome                                              Mob: 07748 325 236 
 
 
   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.

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October 09, 2023 02:00 ET (06:00 GMT)

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