Ilika plc Commencement of PowerDrive Line Collaboration (1976D)
October 08 2018 - 2:00AM
UK Regulatory
TIDMIKA
RNS Number : 1976D
Ilika plc
08 October 2018
Ilika plc
("Ilika" or the "Company")
Commencement of PowerDrive Line Collaboration
Ilika (AIM: IKA), a pioneer in solid-state battery technology
and materials innovation, announces the commencement of the
Ilika-led PowerDrive Line project and confirms that the Company has
now entered into a collaboration agreement governing the commercial
terms of the project with partners including Ricardo. Details of
the all the project partners were disclosed in the RNS of the 13
June 2018 and can also be found on the Innovate UK announcement:
https://bit.ly/2QhkUKi
Solid-state lithium battery technology is widely seen as having
the potential to transform the performance and safety of electric
and plug-in hybrid electric vehicles (EVs and PHEVs). The major
benefits of solid-state batteries derive from their use of
non-flammable solid electrolyte as opposed to the organic solvent
used in current lithium-ion batteries, which is both flammable and
has a relatively short useful life. In terms of performance,
solid-state lithium batteries offer the prospect of much faster
charging times, increased energy density, increased life cycle of
up to 10 years, and extremely low discharge leakage.
The PowerDrive Line project has been awarded funding under the
UK Government's Faraday Battery Challenge: Innovation R&D,
round 2, with balancing contributions from the project's commercial
partners. Funding will be provided via the UK's innovation agency,
Innovate UK. The Ilika-led PowerDrive Line project has attracted
grant funding of GBP4.4million in aggregate for all partners, of
which Ilika will receive GBP2.3 million.
This 30-month collaborative project will develop a lithium based
solid-state Stereaxä battery for plug in hybrid and electric
vehicles, establish a pre-pilot line for solid-state battery cell
technology and develop processes for a solid-state materials supply
chain. The innovative solid-state technology will enable safer,
more energy and power dense cells that will facilitate ultra-fast
charging (enabling PHEV or BEV drivers to charge their cars in
under 25 minutes).
Ricardo will design and construct a prototype battery module to
demonstrate its potential in-vehicle performance. Ricardo will also
apply its industry-leading expertise in EV Battery Management
Systems (BMS) technology. By its incorporation of high processing
power and model-based control capability, Ricardo's approach is
ideally suited to the evaluation of new and innovative cell
chemistries, where the careful monitoring and close control of
every aspect of battery cell and pack performance can be essential
for effective development and evaluation. Ricardo will additionally
develop the BMS to enable a capability for super and ultrafast
charging at ratings of 50-350 kW, in a manner that can be
demonstrated in the prototype battery module.
"Ricardo is pleased to be working alongside partners including
Ilika, in this important project for the future of electrified
vehicles," commended Ricardo director for the passenger car and
motorcycle market sector, Martin Tolliday. "Solid-state lithium
battery technology offers the potential of significant improvements
in performance and safety, in a more compact and lighter weight
package than current electric vehicle battery technology. If
successful, solid-state battery systems could have a transformative
effect on the market for EVs and PHEVs, helping the world
decarbonize road transportation more quickly and effectively than
would otherwise be possible."
"We have a strong consortium to deliver this product innovation,
with Ilika working together with a global leading automotive
manufacturer, the UK's leading automotive engineering consultancy
and two of the country's foremost process innovators. We are
looking forward to the rapid delivery of a globally significant
technology solution," added Ilika's CEO Graeme Purdy.
For more information contact:
Ilika plc
Graeme Purdy, Chief Executive Tel: 023 8011 1400
Steve Boydell, Finance
Director
Liberum Capital Limited Tel: 020 3100 2000
Andrew Godber, Cameron
Duncan, Trystan Cullen,
William Hall
Walbrook PR Ltd Tel: 020 7933 8780 / ilika@walbrookpr.com
Paul Cornelius Mob: 07866 384 707
Lianne Cawthorne Mob: 07584 391 303
Note:
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation ("MAR"). Upon the publication of this
announcement via Regulatory Information Service ("RIS"), this
inside information is now considered to be in the public domain. If
you have any queries on this, then please contact Steve Boydell,
Finance Director of the Company (responsible for arranging release
of this announcement) on 023 8011 1400.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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