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
--
Enquiries:
|
Ilika Plc
Graeme Purdy, Chief Executive
Jason
Stewart, Chief Financial Officer
|
www.ilika.com
Via FTI
Consulting
|
|
|
|
|
Cavendish Capital Markets
Limited (Nomad and Broker)
Peter
Lynch
Neil
McDonald
|
+44 (0)131 220 9772
+44 (0)131
220 9771
|
|
|
|
|
FTI Consulting (Comms
Advisors)
Ben
Brewerton
Elizabeth
Adams
Dwight
Burden
|
ilika@fticonsulting.com
|
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.
