Last checked at 21 Oct 2010 07:00
Ilika plc
("Ilika" or the "Company")
Agreement with Ministry of Defence agency
Ilika awarded Dstl contract for thermoelectric screening technology development
Ilika plc (AIM:IKA), the advanced cleantech materials discovery company, is pleased to announce it has signed an initial six-month development contract with the Defence Science and Technology Laboratory (Dstl) - an agency of the Ministry of Defence (MOD) - to develop high throughput, screening technologies for the identification and optimisation of next generation thermoelectric materials, in return for stage payments. Ilika is recognised for its expertise in discovering high-performing energy conversion materials and this contract will allow the company to extend its capability to the field of thermoelectric materials and to broaden its collaborations within this area.
Thermoelectric materials have the potential to increase significantly the efficiency of conventional engines and generators through the harvesting of waste heat. The use of thermoelectric converters for automotive waste heat recovery could lead to a 10% improvement in fuel efficiency. Moreover, thermoelectric materials and devices are also relevant to other applications such as the cooling of microprocessors and the provision of battery- and cable-free power.
Commenting on the award of the contract, Graeme Purdy, Chief Executive of Ilika, said:
"Securing a contract from an agency of the Ministry of Defence is an impressive achievement at a time when all public sector expenditure is under scrutiny. However, not all areas are being cut and this commitment not only underlines the importance of energy saving, but is also testimony to Ilika's technical abilities in this area."
Dr Maura Jolliffe, Business Development Director at Ilika, added:
"The discovery of high-performing and cost effective energy materials is one of the key enablers to the widespread adoption and commercialisation of the clean technologies required to meet future global energy needs. Ilika is a leading company in the discovery, patenting and commercialisation of such materials and we are very pleased to be able work with Dstl to accelerate the optimisation of thermoelectric materials."
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For more information contact:
| Ilika plc Graeme Purdy, Chief Executive Steve Boydell, Finance Director | +44 (0) 23 80111400
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| Nomura Code Securities Limited Phil Walker / Christopher Golden | +44 (0) 20 7776 1200 |
| Pelham Bell Pottinger Archie Berens / Olly Scott / Francesca Tuckett | +44 (0) 20 7861 3232
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About Ilika
Ilika is an advanced materials company which accelerates the discovery of new and patentable materials using its unique high throughput technologies (''HTT'') process for identified end uses in the energy, electronics and biomedical sectors. This process enables hundreds of scalable materials to be made in a single, automated operation and subsequently tested for key properties.
Traditionally, materials development has been a slow and arduous task, with manual, sequential methods used to make samples of material that are then tested for suitability. On average, it takes between 7 and 10 years to move from an initial discovery through to the first commercial prototype. Experiments carried out by the Company can be executed 10 to 100 times faster than using traditional techniques.
The Company focuses on three principal sectors and has a number of active development programmes addressing markets within each sector:
Energy - developing innovative new materials for Lithium-ion batteries for vehicles for Toyota; developing high capacity hydrogen storage materials with Shell Hydrogen and Johnson Matthey through joint development programmes; developing cheaper alternatives to Platinum electrodes for use in fuel cells through a grant-funded project with the Carbon Trust; developing new materials for use in fuel cells for the transport sector for a major vehicle manufacturer; and carrying out in-house research on film photovoltaic solar cells.
Electronics - developing lead-free piezoelectric materials through a joint development programme with CeramTec; and developing phase change memory materials for high capacity memory chips and is currently in negotiations with a major electronics manufacturer.
Biomedical - developing polymers to enable the filtering of somatic stem cells from blood with a major global supplier of filters; it has been selling its Cryoskin and Myskin products for the treatment of burns and wounds in the UK through a specialist distributor and intends to commence clinical trials of its corneal bandage candidate.
The Group's commercialisation strategy is to enter into joint development or licensing agreements with large multinational companies which are seeking to commercialise products developed using the intellectual property created through jointly-funded programmes. Current commercialisation partners include large multinational companies such as Toyota, Shell, Johnson Matthey and CeramTec. The Company generates revenues from three sources: licensing and milestone payments from joint development programmes; fee for service from contract research projects; and from sales of Cryoskin and Myskin.