Ilika plc (AIM: IKA), the advanced cleantech materials discovery company, is pleased to announce it has renewed and extended the scope of contracts with a major existing customer for the development of novel battery materials. Together with other secured orders, these contracts bring the level of committed revenues to more than £1.8 million for the current financial year ending 30 April 2011. Committed revenues for the financial year ending 30 April 2012 are now in excess of £0.5 million in aggregate.
Commenting on the contracts, Graeme Purdy, CEO of Ilika, said:
"These renewals confirm customer appreciation of the value Ilika brings to product development programmes. We are delighted to extend our relationship with this particular customer into the next project phase. This collaboration reinforces Ilika's position as a globally-leading provider of materials expertise for the rapid development of next generation battery materials. In particular, Ilika's ability to rapidly synthesize candidate materials and test them using proprietary high-throughput electrochemical screening methods continues to be seen as a unique differentiator by our partners and customers."