Ilika PLC (AIM:IKA, OTCQX:ILIKF) hailed a year of important technical and commercial achievements in the development of its Stereax and Goliath solid-state battery technologies as it reported full-year results for the twelve months to 30 April.
The period saw manufacturing of its Stereax miniature batteries transferred to US-based partner Cirtec Medical, with key equipment installed at a cleanroom facility in Massachusetts.
Trial production runs are being supported ahead of planned deliveries of commercial M300 samples this year, with a total of 21 customers engaged in application development for active implantable medical devices.
The Goliath programme for electric vehicles and appliances saw P1 prototype batteries validated and released to customers, along with the publication of third-party safety data.
A 50Ah prototype was produced through the HISTORY project with BMW and Fortescue Zero. The company also added a 1.50 MWh/a assembly line via the SiSTEM project in partnership with MPac and others.
There are currently 21 evaluation agreements in place for Goliath with OEMs and Tier 1 suppliers. Manufacturing processes have been demonstrated at the UK Battery Industrialisation Centre.
Ilika recorded turnover of £1.1 million and an adjusted EBITDA loss of £5.2 million.
Cash and deposits at the period end were £8 million, and were topped up post-period with a £4.2 million fundraising, with a £1.25 million grant from the DRIVE35 programme also secured.
CEO Graeme Purdy said: "Ilika has achieved a significant number of important technical and commercial milestones over the past twelve months…
"We expect the forthcoming period to be equally exciting, presenting opportunities for increased product-related revenue and further commercial engagement."