Ilika plc
("Ilika" or the
"Company")
Key
Goliath Technology Validation Milestone
Ilika
commences customer-sponsored validation of first release of
prototype Goliath battery
Ilika (AIM: IKA),
an independent global expert in solid-state
battery technology, announces it has
commenced testing of its initial batch of P1 Goliath electric
vehicle ("EV") prototype batteries in a customer-sponsored
programme. This follows the successful completion of production and
in-house testing.
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") expected 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
in the last annual results published in July 2023, Ilika confirms
that it has successfully manufactured and tested batches of P1
pouch cells based on the D4 development point and has now commenced
a customer-designed and sponsored test programme in the first of a
series of commercial engagements with automotive OEMs and Tier 1
companies.
Work continues on Ilika's roadmap
through to MVP in calendar year 2025. 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: "Ilika has successfully delivered
another milestone on its Goliath roadmap. We are delighted to be
engaging with a portfolio of interested OEMs and Tier 1 companies
on commercially sponsored evaluation programmes.
"We continue to progress towards
commercialisation as planned and remain on track to demonstrate our
Goliath technology at pilot scale to underpin licensing
discussions and technology transfer. Our near-term focus is on
increasing battery testing capacity and upgrading our dry rooms,
with development strongly aligned to the market growth and
structural drivers within the EV sector."
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For
more information contact:
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Ilika plc
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www.ilika.com
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Graeme Purdy, Chief
Executive
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Via
Walbrook PR
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Jason Stewart, Chief Financial
Officer
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Liberum Capital Limited (Nomad and Joint
Broker)
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Tel: 020
3100 2000
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Andrew Godber, John More
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Nikhil Varghese, Joshua
Borlant
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Joh. Berenberg, Gossler & Co. KG (Joint
Broker)
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Tel: 020
3207 8700
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Mark Whitmore, Detlir Elezi, Natasha
Ninkov
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Walbrook PR Ltd
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Tel: 020
7933 8780 / Ilika@walbrookpr.com
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Nick Rome, Charlotte Edgar, Joe
Walker
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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.