Ilika Plc Regulatory News (IKA)

Ilika plc

("Ilika" or the "Company")

Key Technology Validation Milestone

Ilika ships first batch of prototype Goliath batteries to automotive customer

Ilika (AIM: IKA), a pioneer in solid-state battery technology, announces that it has shipped its first batch of prototype Goliath batteries for customer testing by a tier 1 automotive company.  

In May 2024, Ilika announced it had commenced in-house testing of its P1 Goliath prototype batteries in a customer-sponsored programme. Ilika has now shipped its first batch of P1 batteries to a customer for their external validation.

In November 2023, Ilika announced it had achieved its D4 development point, which is a design-freeze milestone in its Goliath roadmap upon which Ilika's first prototype for customer release, P1, is based. The P1 prototype is an intermediate milestone on Ilika's roadmap to its minimum viable product ("MVP") in 2025. The P1 prototype is a solid-state pouch cell with an NMC cathode and a silicon anode.

In line with the timeframe outlined when it published its last annual results in July 2023, Ilika confirms that it has successfully manufactured and tested batches of P1 pouch cells based on the D4 development point and is now engaged in a series of commercial programmes with automotive OEMs and Tier 1 companies.

Work is continuing on Ilika's roadmap through to MVP in CY25. Ilika's Goliath MVP, or P2 prototypes, will underpin licensing opportunities. Further detail regarding the product curve and development points can be found on page 11 of the Company's 2023 Annual Report, which is available by clicking here.

Graeme Purdy, Ilika CEO, stated: "Following up on the encouraging results from our P1 test programme, we are delighted to be engaging with a portfolio of interested OEMs and Tier 1 companies on commercially sponsored evaluation trials."

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

Ilika specialises in the developing and commercialisation of solid state batteries. The Company's mission is to rapidly develop leading-edge IP, manufacture and license solid state batteries for markets that cannot be addressed with conventional batteries due to their safety, charge rates, energy density and life limits. The Company achieves this by using ceramic-based lithium-ion technology that is inherently safe in manufacture and usage, higher thermal tolerance and easier to recycle which differentiates our products from existing batteries.

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