16th June 2010
Ilika plc (AIM:IKA), the advanced cleantech materials discovery company, has signed an agreement with Taiwan’s premier not-for-profit R&D organisation, the Industrial Technology Research Institute (“ITRI”), to scale-up and commercialise jointly the next generation fuel cell catalysts. The Company believes this agreement will be a vital component of the energy industry’s efforts to develop consumer-friendly fuel cell technology.
Since initially developing and patenting a lower cost, platinum-free fuel cell catalyst in 2006, Ilika has undertaken further development of the compound and is now confident that it offers cost and availability benefits relative to competing technology.
ITRI possesses state-of-the-art integrated abilities in fuel cell technology, including material and device development, manufacturing, application and evaluation, and has agreed to enter into a non-exclusive collaboration to scale-up Ilika’s catalyst materials.
Under this agreement the parties aim to have samples available to potential customers in approximately 18 months. ITRI will meet the cost of this scale-up work. Thereafter catalyst material should be available for large scale supply during the following 12 months.
The parties have also agreed to co-operate in the commercialisation and marketing of the new catalyst, taking full advantage of their global network of potential users.
Ilika’s Chief Executive, Graeme Purdy, said,
“This agreement is a great example of how Ilika develops innovative materials that solve complex industrial challenges together with our partners and shares in the commercial upside that these technological advances make possible. ITRI is a world leader with renowned capability in the field of fuel cell catalysts. We are very pleased it has agreed to enter into this agreement.”