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Ilika investors find a lot to 'lika' about Chinese deal as shares shoot up 14%

Earlier, the UK firm said its Stereax internet-enabled packs will be used to power condition monitoring units used by Titan Wind Energy
Ilika investors find a lot to 'lika' about Chinese deal as shares shoot up 14%
The company's packs will be used to power condition monitors on wind turbines

Investors found a lot to ‘lika’ about Ilika plc (LON:IKA) after the solid state battery pioneer unveiled a deal with the largest manufacturer of wind turbine products in China.

At 1.30pm, the shares, down 44% in the year to date, were up 14.3%.

Earlier, Ilika said its Stereax internet-enabled packs will be used to power condition monitoring units used by Titan Wind Energy.

Expert support for the collaboration will come from Chester University and Nanjing University of Aeronautics and Astronautics.

Step change

“This partnership is expected to bring about a step change reduction in the operating costs of wind turbines, which is of paramount importance in sustaining the economic viability of wind energy,” said Ilika chief Graeme Purdy.

"In China, growth of industrial applications for Internet of Things (IoT) solutions such as this one is outstripping consumer IoT [internet of things].

“We are delighted to be working with our esteemed Chinese collaborators and look forward to a long and rewarding partnership."

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Ilika Timeline

April 16 2013

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