(NewsDirect)
Ilika PLC CEO Graeme Purdy discusses thecompany’s positive trading update for the year to 30 April 2024 withProactive London’s Stephen Gunnion.
The company expects to announce revenues of approximately £2.1million from £0.7 million a year earlier and ended the period withcash and cash equivalents of £11.9 million, providing a solidfoundation for future operations.
Key highlights included a ten-year licensing agreement withCirtec Medical LLC in the US to commercialise miniature batteries formedical devices and wireless sensors. Additionally, Ilika announced a12-month collaboration with the Tata Group’s Agratas to developGoliath cells, aiming for a 50 amp-hour battery by the first half of2025.
The company’s financialposition is supplemented by a recent £1.7 million capital raise aimedat advancing the Goliath programme. Planned investments includeupgrading dry room capabilities to handle moisture-sensitive materialsand enhancing testing equipment for larger batteryprototypes.
Purdy also provided an update on the Stereaxproduction line, noting significant progress at the Massachusettsfacility, with equipment commissioning and qualification underway.
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