Ilika accelerates the discovery of new and patentable materials using a ‘high throughput technologies’ process. Materials are developed for use in the energy, electronics and biomedical sectors at a speed of between 10 and 100 times faster than using traditional techniques (the latter take, on average, between seven and ten years to move from initial discovery to the first commercial prototype). Ilika’s process enables hundreds of scalable materials to be made in a single, automated operation and subsequently tested for key properties.
Ilika’s strategy is to enter into joint development or licensing agreements with large multinational companies which are seeking to commercialise products developed using the IP created through jointly-funded programmes. Examples of Ilika’s work in the energy sector include the development of new materials for lithium-ion batteries with Toyota; the development of hydrogen storage materials with Shell and Johnson Matthey; a project to develop cheaper alternatives to platinum electrodes for fuel cells (funded by the Carbon Trust); and in-house research on film photovoltaic solar cells.
The company generates revenues from licensing and milestone payments from joint development programmes. It also generates fees for service from contract research projects.
Ilika shares ended the month at 56.5p, almost 11% ahead of the issue price.
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