Ilika receives 400,000 grant to help fund its “crusade toward net zero”
–News Direct–
Ilika PLC (AIM:IKA, OTCQX:ILIKF) CEO Graeme Purdy speaks to Thomas Warner from Proactive after the innovative battery developer announced it will receive 400,000 of a 2.7 million grant from the Automotive Transformation Fund (ATF).
The funding is part of a 16-month, 2.7 million collaboration programme that kicked off on 1 October. Ilika is collaborating with Mpac Group (LSE:MPAC) PLC and the UK Battery Industrialisation Centre (UKBIC) for this initiative.
Purdy explains that the funding will be used to enhance the production of their large "Goliath" battery. In collaboration with Mpac, Ilika plans to establish an assembly line, increasing their manufacturing capacity from 0.5 to 1.5 Watt hours annually. This move aligns with their strategy to implement a ful...