Ilika Plc Regulatory News (IKA)

Ilika plc

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

Goliath P1 Cells Validated by Customer Testing

Ilika (AIM: IKA), an independent global expert in solid-state battery technology, announces that it has received confirmation from OEM and Tier 1 testing partners that its P1 Goliath prototypes perform to specification.

Further to its RNS of May 2024 announcing commencement of testing of P1 prototype cells on behalf of, and subsequently by, commercial partners, Ilika confirms that the suite of tests including cell formation protocol, measurement of energy capacity, charge rate, power delivery capability and accelerated cyclability have confirmed the specification of its P1 cells. Furthermore, the tests demonstrated good reproducibility across the batch and delivered the expected electrochemical signature.

The tests were carried out under commercial agreements with confidentiality provisions designed to protect proprietary duty cycle protocols owned by the OEMs and Tier 1 companies. The test protocols used are representative of those used to evaluate batteries for electric vehicles and, while the protocols vary from one partner to another, the results have been consistent, and they are globally relevant.

The Head of Battery Development at an UK-based electrification Tier 1 supplying global OEMs, stated, "We can confirm that we have completed testing of Ilika's P1 prototypes and they perform to specification, putting them in the cohort of leading solid-state batteries we have tested. We look forward to evaluating further prototypes as Ilika progresses through its roadmap."

Graeme Purdy, Ilika CEO, stated, "Customer validation of our Goliath roadmap is of primary importance to us to ensure that we are progressing towards a minimum viable product that meets or exceeds customer expectations. Clearly, this set of validations increases our confidence in the attractiveness of our roadmap. We will continue to engage with a portfolio of potential manufacturing partners to minimise commercialisation risk."

In parallel with the validation programmes carried out on its P1s, Ilika has continued to develop its batteries as outlined in its 2024 annual report. In October 2024, Ilika announced compelling safety test data validated by the Faraday Institution's Safebatt programme. Ilika is currently conducting in-house testing of larger 10Ah cells associated with its materials design freeze before releasing its 10Ah (P1.5) prototypes in H2 CY25. Ilika's near-term roadmap extends through to 50Ah minimum viable product (MVP), with the first release expected at the end CY25. Ilika's Goliath MVP, or P2 prototypes, will underpin licensing opportunities.

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.