Diverso will be the companys business development representative in China, focusing on the energy sector, including PV, batteries, hydrogen storage materials and fuel cells.
Diversos mandate is to arrange and secure collaborative research projects or licensing agreements between the company and third party commercialization partners in the Peoples Republic of China. Ilika will reimburse Diverso based on the revenues it receives from such third party commercialization partners. Its appointment will initially last for three years.
Stephen Edkins, partner at Diverso, said: "We believe Ilikas ability to rapidly develop novel materials suitable for the cleantech sector is of tremendous value to companies based in China. Ilikas proprietary R&D technology makes it extremely attractive as a source of expertise to highly efficient, fast-growing Chinese manufacturers. Growth in Chinas R&D spending has averaged over 20 percent annually, and with strong government backing we expect this trend to continue."
Ilika chief executive Graeme Purdy added: "Diverso’s proven expertise in introducing innovative technology to Chinese manufacturing partners is a great attraction to us … we hope [the partnership] will unlock a major market for us."