9 January 2025

Ilika plc

('Ilika,' the 'Company,' or the 'Group')

Stereax Micro-battery Manufacturing Equipment Commissioning Completed at Cirtec Medical's Facilities; Production of Batteries for Process Qualification Commenced

Ilika (AIM: IKA), an independent global expert in solid state battery technology, announces that the production of Stereax batteries for process qualification has now commenced.

In July 2024, Ilika confirmed that installation of its key equipment had been substantially completed in Cirtec Medical's facility in Lowell, MA, USA. Ilika can now confirm its equipment has been commissioned and successfully passed its User Acceptance Tests (UATs). These production tools include layer deposition machines as well as alignment and patterning machines. This final stage in the commissioning of Stereax new manufacturing facilities means that both Cirtec and Ilika are now satisfied that the equipment meets its requirement for the start of production transfer.

To support equipment commissioning, since June 2024, Ilika has delivered a series of batches of cathode-coated wafers to Cirtec, for further processing and verification of subsequent process steps. Process qualification has the aim of refining and tuning the process equipment to achieve specified product performance in preparation for the start of product manufacturing. Ilika currently retains and will operate part of the production equipment in the UK, including that for cathode deposition and cell formation and testing.

In August 2023, Ilika and Cirtec Medical announced that they had concluded contractual negotiations by signing a ten-year manufacturing licence to produce the Stereax range of mm-scale batteries at Cirtec's facility in Lowell. This partnership will reinforce Cirtec's ongoing activities in system level miniaturisation for the medical device industry, whilst Ilika will focus on advanced technology development and IP licensing in support of Cirtec's manufacturing and commercialisation activities.

Graeme Purdy, Ilika Chief Executive Officer, said: "We are delighted to announce that Stereax is now one step closer towards starting production and enabling its deployment into miniature active medical devices. We thank Cirtec and Ilika colleagues for their effort into completing the transfer of Stereax production equipment to the Lowell facilities."

Brian Highley, Cirtec Medical Chief Executive Officer, said: "This marks a pivotal achievement in the collaboration between Ilika, a leader in advanced miniaturised solid state battery technology, and Cirtec, renowned developing and manufacturing implantable medical devices and complex catheters and delivery systems. By leveraging our combined expertise, the Stereax battery integrates high-energy density with reliable durability and long battery life, offering enhanced efficiency and miniaturisation for a variety of medical applications."

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About Ilika plc - https://www.ilika.com

Ilika specialises in the developing and commercialisation of solid-state batteries. The Company's mission is to rapidly develop leading-edge IP, manufacture and license solid state batteries for markets that cannot be addressed with conventional batteries due to their safety, charge rates, energy density and life limits. The Company achieves this by using ceramic-based lithium-ion technology that is inherently safe in manufacture and usage, higher thermal tolerance and easier to recycle which differentiates our products from existing batteries.

The Company has two product lines. Its Stereax batteries which are designed for powering miniature medical implants, industrial wireless sensors and specialist Internet of Things (IoT) applications and the Goliath large format batteries designed for EV cars and cordless appliances.

About Cirtec Medical

Cirtec Medical is a vertically integrated, full-service outsource partner providing end-to-end product design, development and manufacturing of Class III and II medical devices and components. Cirtec specialise in today's most advanced product technologies including, neuromodulation, implantable drug delivery, cardiac rhythm management, ventricular assist and minimally invasive systems including TAVR/TMVR. Cirtec has a global footprint with facilities in Brooklyn Park, MN; Chandler, AZ; Enfield, CT; San Jose CA, Lowell, MA, Coyal Free Zone, Costa Rica and Birkenfeld, Germany.