Ilika plc (LON: IKA) is a pioneer in solid-state battery know-how, saying full-year results for the yr ended April 30, 2019.
· Implementing Stereax® Development Packages with Five Business Companions:
- Combined with Light-weight Solar Photovoltaic Know-how for Marking Priceless Assets
- Utilizing Titan Wind Energy in Wind Turbine Surveillance Units
- Creating and Deploying Monitor Management Units in Network Strip
- ] Creating Small Medical Implant Batteries with Main Bioelectronics Company
· Stereax® reaches vital milestones in technological development within the following methods: 19659002] o Launching of M50 Cells, a brand new mm-mm product for MedTech
o P180's capability to face up to high ramp heels here for temperatures in industrial purposes
· Creating Stereax® Manufacturing Collaboration with Semefab
· Launching Goliath's Giant-Scale Cell Program:
o Making certain 4.2 Million Pounds of Faraday Battery Fund Financing to Develop Giant Strong State Cells in the Automotive Business
o Launching PowerDrive Co-operation with Honda and Ricardo for the development of fast rechargeable batteries
o Launch of McLaren Automotive-led MoSESS collaboration for efficient automobiles.
· Appointment of Keith Jackson as Chairman and Dr. Monika Biddulph and Jeremy Millard, Leaders
· Turnover 26% and £ 2.6 million (2018: EUR 2.1 million)
· Loss r tax from £ 2.3m (2018: £ 2.9m)
· Loss per share 2.4p (2018: three.7p)
· Cash, cash and financial institution deposits £ four.0m (2018: £ 2.8m)
· Elevated c. £ 4.1 per 20 hectares per share in July 2018
Commenting on the outcomes, Ilika plc's chairman Keith Jackson stated:
”This yr, Ilika has used this technical know-how to set up a multi-million pound program for automotive towing, supported by the UK Faraday Battery Problem financial stream to allow green transportation. Ilika's micro-battery know-how has now reached a record-breaking perpetual, match and forget-to-power power that can’t be dealt with by present cell know-how. In addition to prototypes and pilot manufacturing strains, Ilika types partnerships for industrialization of battery manufacturing. The expansion in financing for R&D tasks is reflected in virtually 30% of internet gross sales progress and quicker than anticipated money. This strong technical and commercial progress is a strong basis for future progress.
Administrators present their strategic report for the yr ended April 30, 2019.
Ilika plc is the holding firm of Ilika Applied sciences Limited, a pioneer in fastened battery know-how. Ilika has developed pioneering strong battery know-how (Stereax®). The Stereax® roadmap was launched with miniature batteries designed to satisfy the requirements of wireless units, referred to as the "Internet of Things", and expanded to cover large-scale cells within the automotive business.
The company's mission is to integrate Stereax® strong state batteries into market-leading merchandise bought by the world's main commercial partners. Originally concentrating on premium market boundaries, the company expects these end products to be value greater than $ 1 billion in end-of-year markets, with executives believing that most of the company's commercial partners are within the lead.
The company's revenue mannequin has three phases: a) commercially funded and sponsored development tasks; b) IP licensing; c) receiving royalties when there are products on the Ilika IP product market. Ilika is at present in its first part of operation, and its revenue comes from a number of development packages. The company has built up licensing alternatives to help the launch of its second part
Ilika has been engaged on solid-state battery know-how since 2008 and has developed a lithium-ion battery that makes use of ceramic as an alternative of liquid or polymer electrolyte. Ionic Cable
The Ilya Strong State Batteries have several advantages over lithium ion batteries, together with:  · Non-flammable
· 6x quicker charge
· 2x power density by weight
· 10x storage with out charging loss
Ilika Stereax® batteries use proprietary materials and processes that permit superior power effectivity per footprint of the battery, as much as 40% enchancment in other strong solutions. The batteries in the duct don’t include free lithium metallic, which makes them more moisture resistant. In addition, strong state batteries are anticipated to be easier to recycle because, in contrast to typical batteries, they do not include poisonous liquids.
Stereax® Know-how Roadmap
Ilika chose to concentrate on the unique mobile development of small units which are appropriate for sensors, typically referred to as IoT finish nodes, due to the potential and the velocity of the market. The planet already has as much as 15 billion sensors, most of that are at present either fastened or disposable. Fastened sensors are costly to install due to cabling prices, but after that they have low upkeep prices. Sensors utilized by disposable batteries are comparatively cheap to put in, however pricey to take care of, as the maintenance employees pays to exchange and eliminate batteries at regular intervals. The Ilya's miniature units are designed to be related to a small power machine (often photovoltaic) so they can be charged and used for a very long time, often up to ten years. This idea is designed to offer low value set up costs compared to fastened units and lower maintenance costs compared to disposable cash.
Wi-fi IoT units supply quite a lot of battery challenges in comparison with other electronic units. They’ve comparable pressures, corresponding to prices and availability, but additionally they have certain specific necessities relying on the surroundings during which they’re used:
o Small footprint and thickness
o Load power  o Charging only when power collector can get power
o Longer lifetime with sensors and microcontrollers
o Help wider temperature ranges
Battery product packages
Based mostly on its present Stereax® M250 and the IP supply of P180 fastened battery this yr Ilika launched this yr MedTech's MM-scale M50.
Stereax® M250 works at temperatures above 100 ° C, 30 ° C greater than different strong merchandise. The benefit of Stereax® P180 is that the temperature is as much as + 150 ° C. This larger temperature is required for a lot of industrial IoT and Automotive purposes that all the time permit self-charging power efficient sensor options for extra demanding environments. As digitization of commercial processes is fast, extra and more elements are needed, with a better tolerance to temperature, humidity and vibration. The M50 is made utilizing a photolithographic process suitable with semiconductor manufacturing processes. It also allows Ilika to fabricate totally different sizes of batteries of various sizes from one manufacturing disc. The method additionally has a bonus over the touch masks as they’re able to create smaller options which might be smaller than microns. Examples of MedTech units that may profit from Stereax battery know-how embrace coronary heart units, blood strain screens, neurostimulators, gastric stimulators, clever contact lenses, and a sensible toothbrush
Battery products to be developed
The Ilika Stereax® roadmap focuses on three principal areas:
· Miniaturization. This seems to be at units that use small measurement sensors, together with scale-scale batteries, making them ultimate for medical units.
· Capacity. For both M250 and P180 deployment, Ilika designed and manufactured wireless sensor nodes that measure temperature, humidity, and mild depth. The facility necessities of the sensors differ relying on the nature of the sensor. For example, the motion detector has a better power requirement than a temperature sensor. To ensure that Ilika to make use of a wider range of kit, Ilika will improve the power capability of the batteries. Sometimes, the sensors are situated in difficult-to-reach places where the lengthy service lifetime of the gadget is extraordinarily low to realize complete value.
· Nice form. Strong state batteries are of nice interest to the automotive business as a result of a change in battery capability is required to make electrical transport a reality. Ilika started engaged on strong materials in cooperation with Toyota in 2008. Many automotive corporations now have strong state cells in their electric car roadmap, and Ilika has been responding to the rising number of incoming queries by launching a large-scale cell development program.
Stereax Development and Deployment Tasks
Through the period, Ilika secured two new OEM partners based mostly on three ongoing development and deployment packages with international OEMs.
Integrated Power Processing System and Battery  In December 2016, the company launched a Sharp Laboratories of Europe (now referred to as Lightricity), which creates an unbiased power harvesting stream that connects the Ilyca battery to Lightricity's photovoltaic know-how for compact, self-charging. power pack. This integration undertaking is consistent with the development of Stereax battery capability. Beta prototype samples have been shared with commercial partners for evaluation
Miniature Medical Implant
In March 2017, the company announced a collaboration venture with a well-funded bioelectronics firm to develop a battery for small medical implants to offer remedies for critical health circumstances by means of the physique's personal nervous system. Innovate UK and the Medical Analysis Council help the program
Situation monitoring of wind turbines
In November 2017, Ilika announced its co-operation to take a position Stereax engines in condition monitoring of wind generators with Titan Wind Power. wind turbine manufacturer in China and fourth largest worldwide.
In January 2019, Ilika launched an indication venture to introduce Stereax batteries to use an unbiased wi-fi sensor for environmental identification and asset tracking.
Rail monitor condition monitoring
In March 2019, Ilika began testing the wireless sensors for monitoring railway infrastructure at Community Rail. Initially, the sensors measure the stress on the monitor as a consequence of high temperatures. The power of the batteries in the duct to face up to temperatures up to 150 ° C makes them notably appropriate for a hostile monitor setting.
Innovate UK Faraday Battery Problem
Innovate UK expects 50% of auto manufacturing by 2030 as electric automobiles (EV) or hybrid automobiles (PHEV). In July 2017, the UK government introduced that commitments for automotive battery development, cell manufacturing, modules, battery design and commissioning in four years will amount to £ 246 million. In November 2017, this was adopted by the announcement of a £ 80 million Nationwide Battery Industrialization Middle in Warwick. Innovate UK manages quite a lot of competitions to promote battery innovation. In June 2018, Ilika announced that she had acquired a grant of £ four.1 million to co-operate with Honda, Ricardo, McLaren and A123 batteries. Two tasks in progress
The primary, targeted on Honda and Ricardo, focuses on the development of high-speed rechargeable batteries. The second battery know-how developed with McLaren and A123 batteries develops environment friendly automobiles. The batteries of a hard and fast battery are notably appropriate for these purposes
The development of large-sized cells makes use of a special technique with micro-cells and Ilika builds a lower-cost printing platform suitable for printing mass materials. Work is now underway to arrange a pilot line near the current Southampton facility. This line can be deployed in the summer of 2019. It is expected that the second part of the pilot line could possibly be achieved in cooperation with the National Battery Industrialization Middle. Ilika validates its manufacturing process on the pilot line in order that they can be delivered to commercial companions for proof, the same mannequin as Stereax
The Ilikka intellectual property portfolio for fastened battery batteries has continued to focus this yr. Ilika believes her patent circuit is protected and protects essential IP so that rivals can’t work around one patent. Ilika now maintains a number of 11 patent families in strong state batteries, three of that are owned by Toyota. This portfolio consists of 15 patents granted
Quality Administration System
In December 2018, Ilika announced that its QMS was independently audited yearly. ISO 9001 is the world's greatest recognized QMS and helps organizations meet their clients' expectations and wants. Certification promotes the development of steady enchancment, customer satisfaction, traceability and international greatest practices.
Key Efficiency Indicators
The Board of Administrators screens a small number of KPIs defining the Group's progress. KPI benchmark battery development objectives and patent purposes. Commercial KPIs combine technical development packages with sales channels and the involvement of commercial companions. Useful KPIs be sure that overheads and money are strictly managed.
The primary monetary KPIs are the Group's cash move, internet sales and profitability, which are still centralized and reviewed in the financial evaluate.
The monetary statement ought to be read along side the consolidated financial statements of the corporate and Ilika Technologies Restricted (together with the “Group”) and its appendices. The consolidated monetary statements are introduced in Worldwide Monetary Reporting Standards as adopted by the European Union. The Firm's monetary statements are further ready in accordance with worldwide accounting requirements authorised by the EU.
Turnover from continuing operations for the yr ended 30 April 2019 was GBP 2.6 million (2018: GBP 2.1 million). This consists of revenue of £ 2.2 million, acknowledged by ten of the companies launched by Innovate UK (2018: £ 1.3 million out of 9 packages). Details of larger packages are described in the above deployment tasks.
More company actions are supported by scholarships or commercial funding than in the earlier yr, and operational assets have been more targeted on internally funded battery development packages.
Administrative Bills and Losses for the Season
Administrative costs for the yr decreased slightly by three.6 million pounds in 2019 to three.eight million pounds in 2018. This does not embrace a share-based cost.
sales and administration costs have been £ 5.zero million a yr, up from four.9 million kilos in 2018, and are related to elevated direct costs because of the elevated variety of commercial and grant-supported packages.
prices are wages that stayed at £ 2.8 million, regardless that the employees rose from 40 to 44.
752,546 options lapsed through the yr and 1,834,908 failed as a result of market-based efficiency criteria. The share-based cost made through the yr included a cost of £ 162,461 in relation to non-contingent choices.
A lower share-based cost plus a revenue margin meant that the loss from persevering with operations before tax was lowered from GBP three.3 million in 2018 to £ 2.7 million in 2019.
Statement of Monetary Statements and Money Flows
Internet Belongings was 30 p. kilos (2018: £ 2.8m).
The web cash inflow for the yr ending on April 30, 2019, mainly in the amount of £ 1.2 million, was:
· Funds raised through the yr EUR 4.1 million Putting and providing of a bid (2018: £ nil)
· Working cash move is £ 2.2 million (2018: £ 2.6 million);
· Improve in trade receivables by £ zero.5 million (2018: lower by £ zero.1 million) resulting from larger end-of-year grants
· Debt progress of £ zero.four million (2018: £ 0.1 million decrease), as a consequence of acquisitions.
· R & D tax credits of GBP zero.3 million (2018: EUR 0.4 million)
· Purchase of plant, property and gear £ 1.0 million (2018: EUR zero.3 million),  MAIN RISKS AND UNCERTAINTIES
The group competes with rivals who can develop more refined and cheaper various know-how environments. present supplies and supplies presently underneath development. The Group is essentially dependent on its partners to commercialize end-products containing the Group's supplies.
The Group goals to scale back this danger by constantly assessing aggressive applied sciences and rivals. The Group strives to commercialize its batteries and different materials via a variety of channels to scale back excessive dependence on particular person companions and, in agreements with partners, to ensure that there are commercialization paths that have to be met in order for the companion to retain the rights to commercialize mental property rights.
The Group depends on a small number of vital clients, companions and grant suppliers. Termination of these agreements or help policies might have a cloth effect on the Group's outcome or operations or financial place. The Group expects to proceed operating losses because of the continued development packages
The Group strives to scale back this danger by increasing the variety of clients and partners and thereby decreasing dependency on particular person major corporations and using its IP assets and assets a number of occasions in tasks.
Mental property danger
The Group faces the danger that the intellectual property rights needed to utilize research and development will not be adequately protected or protected. The Group's mental property rights may additionally grow to be out of date before products and providers might be absolutely commercialized.
The Group reduces this danger by employing inner staff with in depth worldwide expertise in patenting and licensing by means of commercially obtainable patent search and landscaping software program. Exterior patent attorneys and legal professionals are used to advise on the preparation and submitting of patent purposes
Dependence on senior management and key personnel
Sure employees members are thought-about very important to successful business development.
The Group aims to scale back this danger by providing applicable incentives to its staff by means of aggressive pay packages and by collaborating in long-term stock choice schemes and good work.
The Group has thought-about the potential impression of Brexit on the above dangers and believes that, whereas the danger of mental property stays largely unchanged, the longer term capability of the Group to attract
could also be affected and constantly monitored by this Group. formulates its response on the proper time and Brexit's inconvenience has not been brought on thus far.
In line with the federal government
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