Ilika plc First Customer Shipment of Stereax(R) Batteries (6996V)

TIDMIKA

RNS Number : 6996V

Ilika plc

11 April 2023

Ilika plc

("Ilika" or the "Company")

First Customer Shipment of Stereax(R) Batteries from UK Manufacturing Facility

Ilika (AIM: IKA), a pioneer in solid-state battery technology, announces it has made its first customer shipment of Stereax(R) batteries from its UK manufacturing facility. This shipment is the first of a series of planned deliveries to customers over the coming months. The first shipment consists of a batch of single layer Stereax(R) M50 cells, which Ilika has allocated to its customer Blink Energy, the provider of device-agnostic power and communications platforms for any ocular device. The M50 cells can be used individually, but they are also the building blocks for Ilika's M300 batteries, which are constructed from six M50 cells connected in parallel. Forthcoming Stereax(R) customer deliveries will also include M300 batteries.

The ultra-thin profile of M50 cells is of particular benefit to Blink Energy, which is designing products to power and connect smart ocular devices. Blink Energy's aim is to resolve unmet needs of patient compliance, reliability, connectivity, and pricing of the smart contact lens market. Blink Energy's solution, Blink IT(TM) (a smart patch device), fits onto the eyelid epicanthal fold, and contains a designated power and communication platform that wirelessly connects a smart lens to a mobile app.

Further to Ilika's announcement of 16 January 2023, Ilika and Cirtec Medical LLC ('Cirtec'), a strategic outsourcing partner of complex medical devices including minimally invasive and active implantable devices, are currently finalising the terms of their intended partnership. Ilika and Cirtec have signed a memorandum of understanding ('MOU') which outlines the transfer of Stereax(R) mm-scale battery manufacturing to Cirtec's facility in Lowell, Massachusetts, U.S. Following the transfer, Ilika will focus on advanced technology development and IP licensing in support of Cirtec's manufacturing and commercialisation activities.

Graeme Purdy, Ilika's Chief Executive Officer said: "We are delighted to have begun fulfilling our commitments to customers by shipping batteries from our UK facility. Starting with Blink Energy, we look forward to further supporting our customers' product roadmaps for miniature medical devices and industrial IoT applications. Our relationship with Cirtec will further support commercial ramp-up in due course".

Yariv Bar-on, Blink Energy co-founder and Chief Executive Officer, commented: " We are looking forward with great anticipation to the arrival of the first batch of Ilika's Stereax(R) cells. These are miniature batteries that offer the optimal form factor and power density necessary to power and facilitate communication for Blink's platform of smart ocular devices. As we continue to develop our product offerings, we eagerly anticipate evaluating the Stereax(R) cells to determine their potential impact."

 
 For more information contact: 
 Ilika plc                                                  www.ilika.com 
 Graeme Purdy, Chief Executive                            Via Walbrook PR 
 
 
 
 Liberum Capital Limited (Nomad                        Tel: 020 3100 2000 
  and Joint Broker) 
 Andrew Godber, 
 William Hall, Nikhil Varghese 
 
 
 Joh. Berenberg, Gossler & Co. KG                      Tel: 020 3207 8700 
  (Joint Broker) 
 Matthew Armitt, Mark Whitmore, Detlir 
  Elezi, 
 Mara Grasso 
 
 
 Walbrook PR Ltd                Tel: 020 7933 8780 / Ilika@walbrookpr.com 
 Lianne Applegarth                                     Mob: 07584 391 303 
 Nick Rome                                             Mob: 07748 325 236 
 Tom Cooper                                            Mob: 07971 221 972

About Ilika Technologies

Ilika specializes in the development of solid-state batteries. Its Stereax(R) product line is designed for miniature medical implants and specialist internet of Things (IoT) applications. Stereax(R) enables disruptive product designers looking for an intrinsically safe, long life (1000s recharges), low leakage (nA) and miniature power source in a rectangular form factor similar to ICs. For more information about Ilika, please visit: https://www.ilika.com.

About Blink Energy

Blink Energy is located in Haifa, Israel. Blink's ground-breaking and patented technology accelerates the adoption of intelligent ocular devices, reducing their time-to-market and total cost of ownership, with a minimal footprint. For further information please visit: https://www.blinkenrg.com/

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April 11, 2023 02:00 ET (06:00 GMT)

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