(NewsDirect)
Ilika PLC CEO Graeme Purdy joinedProactive's Stephen Gunnion with details of a share placing andopen offer to retail investors aimed at raising up to £3.4 million.
Purdy explained the capitalinjection is targeted at furthering the development of its Goliathtechnology. The company recently entered into a 12-month collaborationwith Tata Group subsidiary Agratas to evaluate Goliath technology,during which Ilika intends to achieve its remaining milestones.
Additionally, Ilika plans to use the fundsto upgrade its dry room facilities to handle moisture-sensitivematerials more effectively. This involves lowering the dew points toreduce environmental humidity, crucial for its leading-edge batterydevelopment. The capital will also help in enhancing its testingfacilities to accommodate larger battery sizes, which are necessary tomeet increased power requirements and customerexpectations.
Purdy highlighted key achievements includingreaching the D4 development point and approaching the D8 milestone,which is set for Q1 2025. The advancements aim at achievinglithium-ion energy density parity and improving battery performance.
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