Ilika Plc Regulatory News (IKA)

6 March 2025

Ilika plc

('Ilika,' the 'Company,' or the 'Group')

Goliath Development Progress

Significant development milestone achieved at conclusion of collaboration programme

Ilika (AIM: IKA), the UK pioneer in solid-state battery technology, announces it has successfully prototyped a 50Ah Goliath electric vehicle (EV) battery, which is a key targeted outcome of the Faraday Battery Challenge HISTORY programme. The 50Ah prototype is the capacity of battery Ilika will now optimise for its minimum viable product for EVs. The battery is expected to reduce costs, increase the range of EVs and reduce their charging time.

This successful prototype build follows the recently announced demonstration of manufacturing in a giga-scale factory setting, using industry standard equipment at the UK Battery Industrialisation Centre, marking the latest step towards commercialisation. It builds on the progress made in 2024 which included the start of commercial testing, shipping of the first batch of prototype Goliath batteries to customers, and the release of validated safety data.

Ilika will now undertake further optimisation based on the initial test results, before commencing a build and test programme in H2 CY 2025. The Company is targeting an initial release of batteries of this capacity for partner evaluation from the end of CY 2025.

Graeme Purdy, CEO of Ilika, said: "This milestone marks the successful conclusion of a grant-funded collaboration, which has enabled Ilika to prototype large EV batteries in readiness for closer engagement with automotive partners. We look forward to securing further support for Goliath commercialisation through the UK government's recent announcement of £2 billion of funding for the electrification of the transport sector."

Paul Shearing, Professor of Sustainable Energy Engineering at the Department of Engineering Science and Director of the ZERO Institute at Oxford University, said: "Through the HISTORY programme, Ilika has exemplified what the Faraday Battery Challenge funding was designed to achieve. Through strong collaborations which span industry and academia, this impressive demonstration is a significant milestone in the successful delivery of the programme, which we have been delighted to participate in."

Ilika announced in January 2023 receipt of grant support from the Faraday Battery Challenge in a 24-month, £8.2 million 8 partner collaboration programme to integrate high silicon content electrodes into its Goliath solid-state batteries ('SSB') to enable automotive level performance. BMW Group and Fortescue Zero (formerly Williams Advanced Engineering) joined the programme's steering committee.

ENDS

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About Ilika plc - https://www.ilika.com

Ilika is a global expert in the development of solid state battery technology for electric vehicles, medical devices and consumer appliances. The Company's pioneering next-generation technologies aim to provide scalable, affordable alternatives to conventional batteries, to industries which need to incorporate a smaller, lighter, and safer power source in their products.

The Company has two product lines. Its Stereax batteries are designed for powering miniature medical implants, industrial wireless sensors and Internet of Things (IoT) applications and the Goliath large format batteries designed for EV cars and cordless appliances.

Through its licensing business model, Ilika supplies its IP portfolio to both OEMs and manufacturing partners in exchange for a license fee and future royalties.