Ilika not anticipating change to expectations from coronavirus pandemic
Solid state battery technology company Ilika updated the market on Wednesday, on the actions it had taken to minimise the impact of the Covid-19 coronavirus pandemic on its business.
The AIM-traded firm said that in order to prioritise the safety of its staff, their families and its customers, it was ensuring its compliance with UK government directives to avoid non-essential travel and maximise home-working.
It said any employees falling into at-risk categories and those showing Covid-19 symptoms were following self-isolation procedures.
Ilika said it was liaising with its supply chain partners to “manage and mitigate” the consequences of any localised business disruption.
Through the deployment of effective remote working practices, it added it was maintaining momentum with planned business discussions, and was continuing to mature its commercial pipeline.
The company's pilot line at the University of Southampton had temporarily closed due to the pandemic but, given its ability to maintain essential existing operations and with the proposed third-party fabrication facility expected to proceed as planned, on the basis of current government guidance, it said it did not currently expect any material change to market expectations for the financial years ending 30 April 2020, 2021, 2022 and 2023 to arise as a result of the pandemic.
“We have taken a proactive approach to managing the operational risks posed by Covid-19,” said chief executive officer Graeme Purdy.
“In particular, we are ensuring continued momentum with our strategy of implementing a manufacturing route for our ‘Stereax’ miniature batteries and also the development of our large format ‘Goliath’ programme.
“I would like to extend my thanks to our loyal team of staff, partners, advisors and shareholders through these turbulent times.”
At 1400 GMT, shares in Ilika were up 11.84% at 24p.