(NewsDirect)
Ilika PLC (AIM:IKA, OTCQX:ILIKF) CEOGraeme Purdy speaks to Thomas Warner from Proactive after theinnovative battery developer announced it will receive £400,000 of a£2.7 million grant from the Automotive Transformation Fund(ATF).
The funding is part of a16-month, £2.7 million collaboration programme that kicked off on 1October. Ilika is collaborating with Mpac Group (LSE:MPAC) PLC and theUK Battery Industrialisation Centre (UKBIC) for this initiative.
Purdy explains that the funding will beused to enhance the production of their large "Goliath"battery. In collaboration with Mpac, Ilika plans to establish anassembly line, increasing their manufacturing capacity from 0.5 to 1.5Watt hours annually. This move aligns with their strategy to implementa fully automated pilot line.
Additionally, the grant will support their partnership with theUK Battery Industrialisation Centre in Coventry, focusing on electrodeproduction for pouch cells using giga factory scaleequipment.
Purdy emphasised that this grant underscoresIlika's commitment to the automotive sector and their alignmentwith the UK's industrial strategy towards achieving Net Zero. Thecompany reported a robust cash balance of £14.6 million at the end oftheir last fiscal year.
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