Stereax Manufacturing Update

RNS Number : 2605Q

Ilika plc

25 February 2021

 

Ilika plc

("Ilika" or the "Company")

Stereax ^Ò Manufacturing Update

Ilika (AIM: IKA), a pioneer in solid-state battery technology, provides an update on the implementation of its Stereax manufacturing plans, Ilika's miniature solid-state batteries designed for industrial wireless sensors in hostile environments and medical implants.

Further to Ilika's Half-year Results on 14 January 2021, the Company confirms continued progress with the implementation of its manufacturing scale-up plans for Stereax, including the below milestones being reached:

· Completed a lease on a 1,650m² facility (FAB) within four miles of Ilika's headquarters

· Awarded outfitting contract for the construction of the cleanroom facilities within the FAB to house the Stereax manufacturing line

· Completed fabrication of the industrial evaporator, previously referred to as "Tool 1", with which Ilika will deposit Stereax battery cathodes, pending successful completion of the impending factory acceptance tests

· Progressed on-track fabrication of the multi-wafer sputterer, referred to as "Tool 2", which Ilika will use for deposition of the other active layers in Stereax batteries

The Company has been made aware that some construction materials suppliers are experiencing supply chain delays, particularly from Europe, which the Company is managing in order to minimise any impact on overall project implementation and do not believe this will have a fundamental effect on expected timings. The Company continues to expect installation of Stereax manufacturing equipment in its FAB to commence in the first half of calendar year 2021, enabling commissioning and process qualification to be carried out in the second half of 2021. This will result in a 70x increase in Stereax production capacity by the end of 2021. Following product qualification, initial product sales continue to be expected in the first half of 2022.

Ilika's CEO, Graeme Purdy, stated: "We are closely monitoring the implementation of our Stereax manufacturing facility. Key equipment fabrication is progressing in a timely manner and importantly within budget, we remain in regular dialogue with our FAB outfitting contractors to coordinate facility readiness with equipment availability. Engagement with a portfolio of Stereax customers, from the IIoT and medical device sectors, remains strong and we look forward to providing further updates to the market on project progress and our expectations on the timing of the ramp up of revenue generation from our new facility."

For more information contact: Ilika plc	www.ilika.com
Graeme Purdy, Chief Executive	Via Walbrook PR
Steve Boydell, Finance Director
Liberum Capital Limited	Tel: [phone]
Andrew Godber, Cameron Duncan, William Hall, Nikhil Varghese
Walbrook PR Ltd	Tel: [phone] /  [e-mail]
Tom Cooper	Mob: [phone]
Lianne Cawthorne	Mob: [phone]
Nick Rome	Mob: [phone]

Notes to editor:

Ilika plc (LON: IKA) is a pioneer in solid-state battery technology with their innovative Stereax micro batteries designed for Industrial IoT and MedTech markets, and their Goliath large format batteries for the electric vehicle and consumer electronics markets. Stereax battery technology offers compelling advantages over conventional lithium ion batteries, including smaller footprint, high energy density, non-toxic materials, faster charging, increased cycle life, low leakage and reduced flammability. Stereax solid-state batteries are also customisable in shape and form, stackable and operational at high temperatures.

 

END

 

 

UPDKZGZZNDKGMZM