Ionic Technologies International Limited

Ionic Technologies International Ltd, based in Leicester, UK, is a small holding company with an active status. Founded eight years ago in 2016, it employs sixteen people and holds £1,033,061 in assets. The company operates from a real address and is overseen by four directors and one owner. It's a regular importer, specializing in machinery, boilers, and mechanical appliances—parts, with five months of recent import activity.

The company’s website reveals a fascinating story. Ionic Technologies is leading the charge in permanent magnet recycling, pioneering a patented process to create the world’s first sustainable magnet. The company’s journey began with research at QUB, leading to the formation of Seren Technologies, which was later acquired by Ionic Rare Earths Limited. The business now processes ore samples and is building a 30tpa demonstration plant in Belfast. The site highlights a focus on rare earth recycling for EV, wind energy, military, and aerospace applications. Current opportunities are advertised, and visitors are encouraged to sign up for a newsletter and download a "Speak Up" policy.

Financially, Ionic Technologies shows a mixed picture. Current assets have decreased by 16% to £1,000,000, while net assets have plummeted 85% to -£3,800,000. Bank borrowings have surged by 87%, reaching £6,000,000, and cash reserves remain at £69,000. Creditors decreased by 76%, suggesting improved debt management. The company’s small size (meeting two of three criteria for turnover under £10.2m, assets under £5.1m, and fewer than 50 employees) helps it remain flexible, but the significant equity drop raises concerns. The company is exempt from full auditing, and the financial statements are unaudited.

The company's reliance on its parent, Ionic Rare Earths Limited, for future funding is a key concern, as highlighted in the financial statements. This dependence, along with other matters, casts significant doubt on its ability to continue as a going concern. While the recycling technology appears promising, the company’s financial health requires close monitoring.

Registered in England/Wales under the registration number 10245432, with a registered address at LE1 7RU, United Kingdom, Leicester, Leicestershire, Mark J Rees Llp Granville Hall, Granville Road.

WARNING:The numbers have been rounded for simplicity and may be inaccurate.Please, refer to the latest financial report for verification.