Ilika shares jump amid scale-up of Goliath battery manufacturing

Wed, 05th Feb 2025 13:56

(Alliance News) - Ilika PLC on Wednesday said its collaboration with the UK Battery Industrialisation Centre has successfully demonstrated its ability to scale-up the manufacturing of its Goliath battery.

Shares in the Romsey, England-based solid-state battery technology company were up 30% at 35.00 pence in London on Wednesday afternoon. The stock remains down 1.1% over the last 12 months.

The scale-up is expected to reduce costs, increase the range of electric vehicles and reduce their charging time, as well as mark another step for Ilika towards commercialisation.

It follows 2024 progress in the launch of commercial testing, shipping of the first batch of prototype Goliath batteries to customers, and the release of validated safety data.

Ilika Chief Executive Officer Graeme Purdy said: "We are delighted with the teamwork at UKBIC, which has delivered an excellent outcome, demonstrating the large scale preparation of Goliath electrolyte and the coating of our composite electrode-electrolyte. We look forward to further collaboration on our commercialisation journey and welcome the UK government's recent announcement of GBP2 billion of funding which will catalyse faster progress in this space."

By Emily Parsons, Alliance News reporter

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