20th Feb 2014 09:31
LONDON (Alliance News) - Ilika PLC said Thursday that it had raised GBP2.9 million in a share placing to support the development of its solid-state battery technology, including marketing, sales activities and intellectual property protection.
Ilika raised the funds through the placing of 4.9 million shares at a placing price of 60 pence each.
The advanced electronics company announced in January that it had found a method to produce its stacked solid-state cell battery and was actively pursuing commercial partnerships to bring the product to market as soon as possible.
A solid-state battery is a battery in which both the electrodes and electrolyte are solid-state materials. Following this announcement, Ilika posted positive results from electrochemical testing of the solid state batteries, and announced its intention to continue further development work to increase the number of cells in each stacked battery it produces.
It expects the result of this development to be batteries that can be commercialised for network sensor applications.
Shares in Ilika were trading up 0.3% at 68.20 pence Thursday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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