21st February 2013
Ilika plc (AIM: IKA), the advanced cleantech materials company, confirms that further to the announcement on 11 December 2012, it has renewed and extended the scope of another existing contract with the same major existing customer for the development of its battery technology.
This contract is in addition to the contract previously announced and regards the broadening of the scope of technical engagement within the battery field. The renewal marks the third phase of this contract with an order value of ca. £160,000 for a two month programme of work with a follow-on phase expected, subject to satisfactory initial results being achieved.
Commenting on the renewal, Graeme Purdy, CEO 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."