10th Feb 2014 10:14
LONDON (Alliance News) - Ilika PLC Monday said it has renewed a commercial contract with an existing US multi-national customer, which it didn't name.
The advanced electronics company said the deal was with a company in the semi-conductor industry, and the objective of the programme is to develop advanced functional materials for use in electronics fabrication processes.
The news comes after the company announced on January 9 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.
"This contract renewal reinforces Ilika's business development in the US and will mean that our revenues for this financial year will, broadly, be balanced between the US, Europe and Asia," Chief Executive Officer Graeme Purdy said in a statement.
Ilika shares were up 1.5% to 67.50 pence Monday.
By Tom McIvor; [email protected]; @TomMcIvor1
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