Ilika plc Goliath Scale-up Update (3496P)

TIDMIKA

RNS Number : 3496P

Ilika plc

20 June 2022

Ilika plc

("Ilika" or the "Company")

Goliath Scale-up Update

Economic Assessment Commences on Integrating a 100 MWh Solid-State Battery Manufacturing Line at the UK Battery Industrialisation Centre

Ilika (AIM: IKA), a pioneer in solid-state battery (SSB) technology, announces it has started a six-month economic feasibility study in partnership with the UK Battery Industrialisation Centre (UKBIC) to understand what is required to create a dedicated 100 MWh SSB manufacturing line within the UKBIC facilities.

The Ilika-led collaborative project is supported by the Advanced Propulsion Centre (APC) through its Automotive Transformation Fund (ATF) which aims to clarify the way forward for industrialisation of solid-state batteries in the UK. Ilika will receive a GBP105,000 grant towards its related costs over the six-month project, which commenced on 1 May 2022.

The project follows the recent successful APC-funded SOLSTICE project between Ilika and Comau, part of Stellantis, which concluded that there were no barriers to scaling-up Ilika's Goliath solid-state battery technology for electric vehicles and delivered a plant design for a megascale manufacturing facility. The project with the UK battery manufacturing development facility will now look at the cost implications of placing a megascale solid-state battery line at UKBIC to enable Ilika's Goliath electric vehicle batteries to be manufactured at scale.

If feasible, and in the best interests of UKBIC and Ilika, this line would support Ilika's OEM customers' validation and testing programmes, and would follow Ilika's current plan to scale its pre-pilot line production capacity from 50 kWh per year to 2 MWh per year.

UKBIC is a publicly-funded battery product development facility in Coventry, in the West Midlands, which welcomes manufacturers, entrepreneurs, researchers and educators. Support from UKBIC can be accessed by any organisation with existing or new battery technology so long as that technology brings 'green jobs' and prosperity to the UK.

Ian Constance, Chief Executive of the APC, said: "We're really interested to see the outcomes of Ilika's feasibility study. To fully decarbonise the automotive sector we have to transition the EV supply chain at scale and pace and this study will explore opportunities for the UK to rapidly grow manufacturing in some of the most globally advanced and in-demand vehicle technologies, which in turn will lead to highly-skilled jobs and green growth."

Jeff Pratt, UKBIC's Managing Director, commented: "This feasibility study with Ilika has the potential to lead to a dedicated solid-state line being built at UKBIC. With demand for electrification increasing, it's important that there are a wide range of technologies available, for now, the mid-term and the long-term future. We're excited to find out what the future holds for solid-state batteries, a potentially game changing battery technology for the UK."

Graeme Purdy, Ilika CEO, stated: "This project represents the next logical step in Ilika's scale-up plans for its Goliath technology, building on important work in our earlier programmes. Ilika and UKBIC entered into a Framework Agreement at the end of 2020 on the basis that when the time was right, we would assess the feasibility of placing an Ilika megascale Solid-State Battery line at the UKBIC facility, utilising the expertise and existing equipment alongside the bespoke solid-state battery equipment identified in the SOLSTICE programme. The time is now right: the scale up of Ilika's manufacturing capability for Goliath solid-state batteries has gained strong momentum as we accelerate towards delivering the batteries to the automotive markets."

For more information contact:

 
 Ilika plc 
  Graeme Purdy, Chief Executive 
  Steve Boydell, Finance Director                       [phone] 
 
 Liberum Capital Limited 
  Andrew Godber, Cameron Duncan, 
  William Hall, Nikhil Varghese                        [phone] 
 
 Joh. Berenberg, Gossler & Co. 
  KG (Joint Broker) 
  Emily Morris, Detlir Elezi, Milo 
  Bonser                                               [phone] 
 
 Walbrook PR Ltd                [phone] or [e-mail] 
 Lianne Applegarth                                 Mob: [phone] 
 Nick Rome                                         Mob: [phone] 
 Tom Cooper                                        Mob: [phone] 
 
 

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June 20, 2022 02:00 ET (06:00 GMT)