Publishers

Need unique free news content for your site customized to your audience?

Let's Discuss

PRESS RELEASE
By: News Direct
May 17, 2024

Curated TLDR

Ilika CEO highlights strong 2024 financial performance and key developments

--News Direct--

Ilika PLC CEO Graeme Purdy discusses the company’s positive trading update for the year to 30 April 2024 with Proactive London’s Stephen Gunnion.

The company expects to announce revenues of approximately £2.1 million from £0.7 million a year earlier and ended the period with cash and cash equivalents of £11.9 million, providing a solid foundation for future operations.

Key highlights included a ten-year licensing agreement with Cirtec Medical LLC in the US to commercialise miniature batteries for medical devices and wireless sensors. Additionally, Ilika announced a 12-month collaboration with the Tata Group’s Agratas to develop Goliath cells, aiming for a 50 amp-hour battery by the first half of 2025.

The company’s financial position is supplemented by a recent £1.7 million capital raise aimed at advancing the Goliath programme. Planned investments include upgrading dry room capabilities to handle moisture-sensitive materials and enhancing testing equipment for larger battery prototypes.

Purdy also provided an update on the Stereax production line, noting significant progress at the Massachusetts facility, with equipment commissioning and qualification underway.

Contact Details

Proactive UK Ltd

+44 20 7989 0813

uk@proactiveinvestors.com

View source version on newsdirect.com: https://newsdirect.com/news/ilika-ceo-highlights-strong-2024-financial-performance-and-key-developments-303289305

Blockchain Registration, Verification & Enhancement provided by NewsRamp™

This press release is distributed by News Direct. Blockchain Registration, Verification & Enhancement provided by NewsRamp™. The source URL for this press release is Ilika CEO highlights strong 2024 financial performance and key developments.

{site_meta && site_meta.display_name} Logo

News Direct

The News Direct platform offers a unique blend of technology and customization. Dive into a world of intuitive design, featuring compelling visuals, interactive elements, and seamless navigation.