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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Ilika plc    IKA   GB00B608Z994

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Ilika : Partnership with Wind Turbine Manufacturer

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11/14/2017 | 08:11am CEST

Ilika plc

('Ilika' and the 'Company')

New Partnershipwith Wind Turbine Manufacturer in China

Ilika to deploy StereaxÒsolid state batteriesfor condition monitoringof wind turbine blades

Ilika (AIM: IKA), a pioneer in solid-state battery technology and materials innovation, announces a partnership to deploy StereaxÒsolid state battery powered devices for the condition monitoring of wind turbines with Titan Wind Energy, the largest manufacturer of wind turbine products in China.

The deployment will be part of a two-year collaborative project with the Chinese wind turbine manufacturer Titan Wind Energy, with expert support from Chester University and Nanjing University of Aeronautics and Astronautics (NUAA). The £1.0 million development project is supported by Innovate UK funding of £0.4 million. The Chinese partners will receive similar funding from Jiangsu Province.

Wind energy is one of the leading renewable sources to replace fossil fuels. China and the UK together contribute ca. 40% of the world's 500 GW wind power capacity. However, the ever-increasing operation and maintenance costs have become a critical constraint for the sustainability of wind energy growth. The primary objective of this project is to develop an integrated smart sensor powered by a combined vibration harvester and a StereaxÒbattery, to be incorporated into the composite structure of wind turbine blades. The smart composite will be able to perform autonomous structural condition monitoring of the blades, to detect the early signs of damage and enable predictability in maintenance scheduling and prevent the icing of the blades. This will ensure operational efficiency, whilst also self-sustaining the power supply of these functionalities without the need for battery replacement.

Business Development In China

In addition, the Company has appointed Lou Ming, as business development officer with responsibility for driving future collaborations and commercial partnerships in China.

Mr. Ji Jun, President of Titan Wind, stated;'We are very excited about the opportunity of using Ilika's StereaxÒsolid state battery technology in the globally significant market of wind turbine blade condition monitoring.'

Commenting on this grant award, Graeme Purdy, Ilika CEO, said; 'This partnership is expected to bring about a step change reduction in the operating costs of wind turbines, which is of paramount importance in sustaining the economic viability of wind energy. In China, growth of industrial applications for Internet of Things (IoT) solutions such as this one is outstripping consumer IoT. We are delighted to be working with our esteemed Chinese collaborators and look forward to a long and rewarding partnership.'

For more information contact:

Ilika plc

Graeme Purdy, Chief Executive

Tel: 023 8011 1400

Steve Boydell, Finance Director

Numis Securities Limited

Tel: 020 7260 1000

Oliver Cardigan/ Paul Gillam /

James Black

Walbrook PR Ltd

Paul Cornelius

Mob: 07866 384 707

Lianne Cawthorne

Mob: 07584 391 303

About Ilika

Ilika plc (LON: IKA) is a pioneer in materials innovation and solid-state battery technology. The Company has been inventing new materials for energy and electronics markets for over a decade, including in automotive, aeronautical and electronic components sectors. Global brands such as Rolls Royce and Toyota collaborate with Ilika's development teams to create innovative products or improve the performance of existing components. By applying that heritage of patented materials invention, the Company has developed ground-breaking solid-state batteries to meet the specific demands of a wide range of applications in the Internet of Things (IoT).

Ilika is now licensing its battery technology IP to partners for IoT sensors for the Smart Home/Building; Medical; Automotive and Transportation sectors around the world. Ilika's StereaxÒbattery technology IP family offers compelling advantages over conventional lithium ion batteries, including: smaller footprint (energy density), non-toxic properties, faster charging, increased cycle life, low leakage and reduced flammability. Ilika is working to help build the connected world, removing the constraints of energy source for designers and engineers by delivering 'fit once and forget' power wherever it is needed. The company is headquartered in the UK and has operations in the USA and Japan. Find more information at www.ilika.com

About Titan Wind Energy

Titan Wind Energy (Suzhou) Co., Ltd. engages in the research, design, manufacture, and distribution of wind towers worldwide. The company distributes its towers to the United States, Canada, Brazil, Germany, Sweden, the United Kingdom, Romania, Spain, Australia, New Zealand, Thailand, India, and Outer Mongolia, as well as other parts of the world. Titan Wind Energy (Suzhou) Co., Ltd. was founded in 2005 and is headquartered in Taicang, China.

Ilika plc published this content on 14 November 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 14 November 2017 07:08:10 UTC.

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Financials (GBP)
Sales 2019 3,17 M
EBIT 2019 -2,13 M
Net income 2019 -
Finance 2019 0,07 M
Yield 2019 -
P/E ratio 2019 -
P/E ratio 2020
EV / Sales 2019 5,86x
EV / Sales 2020 6,20x
Capitalization 18,6 M
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Graeme Purdy Chief Executive Officer & Executive Director
Michael James Inglis Non-Executive Chairman
Stephen John Boydell Secretary, Executive Director & Finance Director
Brian Elliott Hayden Executive Director & Chief Scientific Officer
Clare Mary Joan Spottiswoode Non-Executive Director
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