Ilika renews and extends lithium-ion battery contract

Ilika, a clean-tech materials discovery company, has confirmed that, further to its trading update on 22 October, it has renewed and extended the scope of a contract with an existing customer for the development of lithium-ion battery technology.

This is the seventh phase of this contract, which extends the relationship into its fifth successive year.

The order value of around £330,000 corresponds to approximately 20 per cent of the expected annual revenue for Ilika’s current financial year.

Additional discussions with the same customer regarding a broadening of the scope of technical engagement within the battery field are currently in an advanced state and are expected to yield another, similarly sized, order within this financial year.