Ilika Plc Share Price (IKA)

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Cleantech company Ilika has renewed and extended the scope of an existing contract with a 'major' existing customer for the development of its battery technology. The new agreement broadens the scope of technical engagement within the battery field. The renewal marks the third phase of this contract with an order value of around �160,000 for a two month programme of work with a follow-on phase expected, on the condition that satisfactory initial results are achieved. Graeme Purdy, the Chief Executive Officer of Ilika, said: "We are delighted that this world-leading automotive customer continues to invest in broadening and deepening its relationship with Ilika and we look forward to accelerating their materials development in next generation batteries for hybrid vehicles."

Cleantech company Ilika has renewed and extended the scope of an existing contract with a 'major' existing customer for the development of its battery technology. The new agreement broadens the scope of technical engagement within the battery field. The renewal marks the third phase of this contract with an order value of around £160,000 for a two month programme of work with a follow-on phase expected, on the condition that satisfactory initial results are achieved. Graeme Purdy, the Chief Executive Officer of Ilika, said: "We are delighted that this world-leading automotive customer continues to invest in broadening and deepening its relationship with Ilika and we look forward to accelerating their materials development in next generation batteries for hybrid vehicles."

The company stated that the granting of the patent represented a "significant step forward" in securing the intellectual property in the major markets where Ilika intends to commercialise its proprietary technology. Further grants of the patent family in other jurisdictions around the world are expected in 2013, the company statement added. The patent further underpins product development work, which is being supported by the Carbon Trust through a £150,000 equity investment Ilika announced in September 2012. Commenting on the patent grant, Graeme Purdy, Chief Executive Officer of Ilika, said: "The grant of this patent by the USPTO confirms the novelty and inventiveness of Ilika's intellectual property in this area. The Ilika team is very focussed on ensuring the successful commercialisation of this technology with our key partners".

AIM-listed advanced cleantech materials company Ilika has secured a US patent for its fuel cell catalyst, according to a statement issued by the company on Friday morning. The patent covers the use of Ilika's lower cost metal alloys as electro-catalysts in Polymer Electrolyte Membrane (PEM) fuel cells. Platinum-free catalyst In a fuel cell, a controlled reaction occurs between hydrogen and oxygen. This reaction requires electro-catalysts, which are currently based on the precious metal, platinum. Ilika has developed a novel platinum-free catalyst which, the company states, has been shown to be 70% cheaper than the current industry standard on a cost/performance basis. The electro-catalysts were originally discovered using Ilika's high throughput materials development platform at its facility in Southampton, UK and have been manufactured to Ilika's specification by a partner using an industrially-scalable process.

Commenting on the renewal, Graeme Purdy, CEO of Ilika, said: "We are delighted that this world-leading automotive customer continues to appreciate the value of Ilika's expertise for the rapid development of next generation battery materials for hybrid vehicles. Their multi-million spend to date with Ilika is a clear endorsement of the value delivered by Ilika's unique approach to accelerated materials development."