11th Jul 2014 08:07
LONDON (Alliance News) - Ilika PLC said Friday it has won a proof-of-concept contract with an existing, undisclosed original equipment manufacturer to provide solid state batteries in wireless sensor network applications.
The company said that, with the addition of this contract, its level of committed revenue for the current year is over GBP600,000, ahead of GBP215,000 in the previous year.
Financial details of the contract were not disclosed.
"Whilst we are confident this particular OEM is capable of delivering commercial revenues for Ilika, we remain in discussions with several other parties to ensure the success of our innovations and look forward to updating the market on our progress in due course," said Chief Executive Graeme Purdy said in a statement.
Shares in Ilika were trading up 9.1% at 67.61 pence Friday morning, putting it among the top 10 gainers on AIM.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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