Ilika chief executive Graeme Purdy discusses 2024 revenue growth and strategic milestones

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–News Direct–

Ilika PLC (AIM:IKA, OTCQX:ILIKF) chief executive Graeme Purdy discusses a trading update and the latest company milestones with Proactive's Stephen Gunnion.

Purdy highlighted that Ilika's financial performance for the year ending in April is expected to be in line with projections, noting a significant revenue increase from 0.8 million the previous year to approximately 2 million. This growth is largely attributed to grant support for their Goliath development programme. He provided an update on the Goliath batteries, mentioning that they had reached a milestone in late 2023, which allowed them to start producing P1 prototypes for external evaluation. These prototypes are currently being tested, with results expected to be shared with partners soon.

Additionally, Purdy touched on achieving lithium ion parity with their Goliath batteries, marking a significant technological advancement. He also discussed the progress with their Stereax product following a tech transfer and licence agreement with Cirtec in the USA, which is moving forward with the initial production line installed and operational.

Purdy said investors can participate in a Q&A session with Ilika on 26 April at 11am BST on the Investor Meet Company (IMC) platform by registering here:

Contact Details

Proactive UK Ltd

+44 20 7989 0813

[email protected]

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