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Shares of solid-state battery technology firm Ilika plc (LON: IKA) are rallying on Tuesday after the company announced it is collaborating with Comau, part of the Fiat Group,
Comau, which is in the industrial automation field, will help Ilika scale up its existing Goliath pre-pilot line and deliver a plant design for a Goliath manufacturing line at a mega-scale facility.
The design study is being supported by the Advanced Propulsion Centre (APC), with Ilika receiving a £235,000 grant towards related costs over the 12-month project.
Ilika will lead the project with the first goal to design the scale-up of its existing Goliath pre-pilot line to increase the production of solid-state cells from 1kWh per week to 10kWh per week. Comau will complete a study of Ilika's processes and deliver a plant design for a megawatt-scale solid-state manufacturing line for ultimate installation at the UK Battery Industrialisation Centre (UKBIC).
Ilika will also be developing its Goliath solid-state technology concurrently so it can deliver cost-effective batteries.
“This project is an important step in the scale-up of our Goliath technology and represents an exciting opportunity to work with Comau, one of the world's leading designers of innovative engineering solutions. We are a strong team ideally placed to deliver a strong manufacturing capability for Goliath solid-state batteries,” commented Graeme Purdy, Ilika CEO.
Ilika shares are traded on the London stock exchange's AIM market (the alternative investment market), which is the submarket specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are Ilika shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies
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