Morning all22 Jan 2015 07:31
Operational Highlights
· Grant of two patents covering methods for producing solid state batteries
· 25 x increase in solid state battery size
· Proof of concept contract win with European partner for development of batteries for wireless sensor networks
· Keith Jackson, CTO of Meggitt plc, appointed as NED to the board
· Successful factory acceptance test of £3.3m pilot production line
Post Period End Events
· Official opening of pilot line by Rt. Hon Greg Clark MP
· 20 x larger deposition area of key battery materials
· 5 x increase in materials deposition rate
Financial Summary
· Total revenue for the period at £0.6m is in line with prior period (1H 2013: £0.6m)
· Loss per share has reduced to 2p (1H 2013: 3p per share)
· Net cash inflow in the period £0.1m (1H 2013: outflow £1.7m)
· Cash balance at period end £7.3m (1H 2013: £1.4m)