Advertiser Business
Energised by hi-tech deal
10:00am Friday 3rd February 2012
A TECH firm spun out of Southampton University has signed an agreement with world-leading US battery maker Energizer to develop advanced materials for the “next generation” of batteries.
Shares in Ilika plc, which offers fast-track discovery of hi-tech new materials for large multinational firms, rose on the announcement which comes weeks after electronics giant Toshiba become its sixth major Japanese multinational customer. Analysts said the contract win was “highly significant”.
Ilika CEO Graeme Purdy said: "We are delighted to have entered into this new commercial relationship with Energizer and become part of its global innovation network.
"Energizer has a clear vision for its next generation of products and well defined channels to market."
An Energizer spokesperson added: "Ilika's high throughput techniques are well-matched to our material development requirements and we look forward to rapid innovation in this collaboration."
Ilika, which employs 30 staff and is based on the 45-acre university science park in Chilworth, was founded in 2004 and is now valued at £20m.
Last month it revealed gross profit was up 67 per cent and losses were cut by 17 per cent to £1.6m in the six months to October 31. Analysts expect it to break even in the next two years.