28th Jan 2014 08:34
LONDON (Alliance News) - Shares in Ilika PLC rose 22% Tuesday morning after it announced that the electrochemical testing of its stacked solid-state batteries, manufactured using its recently discovered process, had shown the battery to produce twice the voltage and power of a single cell battery.
The company said it is continuing further development work to increase the number of cells in each stacked battery it produces, and expects the result to be batteries that can be commercialised for network sensor applications.
A solid-state battery is a battery in which both the electrodes and electrolyte are solid-state materials.
Ilika 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.
The company's single solid-state lithium ion battery has also been in testing since mid-October 2013, and Ilika said it has been rapidly charged and discharged 2,200 times, demonstrating an equivalent lifetime of six years.
The data from the tests is being shared with its original equipment manufacturers, which Ilika said has helped accelerate discussions with some partners.
Shares in Ilika were trading up 19% at 48.88 pence Tuesday morning, having touched 53.50 pence at the open.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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