Ilika secures US patent for fuel cell catalyst

AIM-listed advanced cleantech materials company Ilika has secured a US patent for its fuel cell catalyst, according to a statement issued by the company on Friday morning.

AIM-listed advanced cleantech materials company Ilika has secured a US patent for its fuel cell catalyst, according to a statement issued by the company on Friday morning.

The patent covers the use of Ilika's lower cost metal alloys as electro-catalysts in Polymer Electrolyte Membrane (PEM) fuel cells.

Platinum-free catalyst

In a fuel cell, a controlled reaction occurs between hydrogen and oxygen. This reaction requires electro-catalysts, which are currently based on the precious metal, platinum.

Ilika has developed a novel platinum-free catalyst which, the company states, has been shown to be 70% cheaper than the current industry standard on a cost/performance basis.

The electro-catalysts were originally discovered using Ilika's high throughput materials development platform at its facility in Southampton, UK and have been manufactured to Ilika's specification by a partner using an industrially-scalable process.

'Step forward'

The company stated that the granting of the patent represented a "significant step forward" in securing the intellectual property in the major markets where Ilika intends to commercialise its proprietary technology.

Further grants of the patent family in other jurisdictions around the world are expected in 2013, the company statement added.

The patent further underpins product development work, which is being supported by the Carbon Trust through a £150,000 equity investment Ilika announced in September 2012.

Commenting on the patent grant, Graeme Purdy, Chief Executive Officer of Ilika, said: "The grant of this patent by the USPTO confirms the novelty and inventiveness of Ilika's intellectual property in this area. The Ilika team is very focussed on ensuring the successful commercialisation of this technology with our key partners".

Ilika's share price was up 4% to 26p at 08:53 on Friday morning.

MF

Recommended

A new legal headache for Haleon
Stocks and shares

A new legal headache for Haleon

Haleon, GSK’s former consumer-products arm, spun off last month, has made a dismal debut on the stockmarket.
17 Aug 2022
Persimmon yields 12.3%, but can you trust it to deliver?
Share tips

Persimmon yields 12.3%, but can you trust it to deliver?

With a dividend yield of 12.3%, Persimmon looks like a highly attractive prospect for income investors. But that sort of yield can also indicate compa…
17 Aug 2022
Cineworld faces a bleak future – investors should stay away
Share tips

Cineworld faces a bleak future – investors should stay away

Weighed down by crippling debts and with consumers tightening their belts, Cineworld's future does not look bright, says Rupert Hargreaves. Investors …
17 Aug 2022
Britain’s ten most-hated shares – w/e 12 August
Stocks and shares

Britain’s ten most-hated shares – w/e 12 August

Rupert Hargreaves looks at Britain's ten most-hated shares, and what short-sellers are looking at now.
16 Aug 2022

Most Popular

Don’t listen to the doom-mongers – the future is bright
Economy

Don’t listen to the doom-mongers – the future is bright

With volatile markets, raging inflation and industrial unrest, it may feel like things are bad and likely to get worse. But the end of the world is no…
15 Aug 2022
Investors should get ready for a political revolution
UK Economy

Investors should get ready for a political revolution

Liz Truss will beat Rishi Sunak, cut taxes, and then shake up the Bank of England, says Helen Thomas
15 Aug 2022
How solar panels could lower your energy bill
Energy

How solar panels could lower your energy bill

Solar-panel installation firms are reporting a four-fold increase in orders this year compared with 2021. Ruth Jackson-Kirby explains how solar can he…
14 Aug 2022