REG - Ilika plc - Key Technology Validation Milestone

IlikaAnnouncement

02/07/2024 07:00

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RNS Number : 6870U  Ilika plc  02 July 2024

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
(https://www.ilika.com/images/uploads/general/41992-Ilika-AR23-WEB.pdf) .

 

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."

 

 For more information contact:
 Ilika plc                                               www.ilika.com (http://www.ilika.com/)
 Graeme Purdy, Chief Executive                           Via Walbrook PR
 Jason Stewart, Chief Financial Officer

 Panmure Liberum Limited (Nomad and Joint Broker)        Tel: 020 3100 2000
 Andrew Godber, John More,
 Nikhil Varghese, Josh Borlant

 Joh. Berenberg, Gossler & Co. KG (Joint Broker)         Tel: 020 3207 8700
 Mark Whitmore, Detlir Elezi,
 Natasha Ninkov

 Walbrook PR Ltd             Tel: 020 7933 8780 / Ilika@walbrookpr.com
 Nick Rome                                               Mob: 07748 325 236

 

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

 

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