Ilika (IKA)

Sector:

Electronic and Electrical Equipment

Index:

FTSE AIM All-Share

34.50p
   
  • Change Today:
      0.50p
  • 52 Week High: 51.00
  • 52 Week Low: 14.75
  • Currency: UK Pounds
  • Shares Issued: 168.11m
  • Volume: 87,404
  • Market Cap: £58.00m
  • Beta: 0.00

Ilika announces key Goliath development milestone

By Josh White

Date: Thursday 03 Oct 2024

LONDON (ShareCast) - (Sharecast News) - Solid-state battery technology developer Ilika announced a key development milestone on Thursday, with the successful completion of testing on its Goliath D5 prototypes.
The AIM-traded firm said the tests confirmed that Ilika's batteries offered superior safety compared to traditional lithium-ion cells, marking significant progress in the development of solid-state batteries for electric vehicles (EVs).

It said the Goliath D5 prototypes demonstrated enhanced safety across key variables, reinforcing their potential to provide lighter, safer, and cheaper EV batteries with longer ranges and faster charging capabilities.

The D5 tests, conducted as part of Ilika's minimum viable product (MVP) roadmap, confirmed its progress since its D4 data point, achieved in 2023.

The tests, which were supported by the Faraday Institution's 'Safebatt' programme, showed that puncturing the D5 prototypes resulted in a EUCAR 3 hazard classification - no leakage, no fire, and no explosion - compared to a more severe EUCAR 6 event for lithium-ion batteries, which involved rupture, fire, and flame.

Additionally, the D5 cells were found to operate at failure temperatures around 300 degrees Celsius lower than their lithium-ion counterparts, further enhancing safety.

The D5 prototypes also demonstrated improved capacity at higher discharge rates, with the ability to discharge at twice the rate of previous P1 prototypes without loss of capacity.

Ilika said the improved safety profile meant EV designers could reduce the mechanical protection needed for battery packs, enabling lighter and less expensive designs while extending the vehicle's range.

Ilika said it was continuing to develop its Goliath roadmap, with further advancements expected in 2025 as the company worked towards its MVP samples and future licensing opportunities.

"While our test programme will continue throughout our journey to a minimum viable product, we're delighted with this positive outcome," said Ilika chief executive officer Graeme Purdy.

"The validity of the results is enhanced by the independent execution of the tests carried out by University College London and the University of Oxford under the Faraday Institution's Safebatt Industrial Sprint programme and by DEKRA.

"Meeting our D5 milestone pushes our technology further along the curve towards D6, which is a data point for larger area 10Ah batteries, the results of which we expect to announce in November 2024."

At 1225 BST, shares in Ilika were up 2.96% at 24.19p.

Reporting by Josh White for Sharecast.com.

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Ilika Market Data

Currency UK Pounds
Share Price 34.50p
Change Today 0.50p
% Change 1.47 %
52 Week High 51.00
52 Week Low 14.75
Volume 87,404
Shares Issued 168.11m
Market Cap £58.00m
Beta 0.00

Ilika Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
36.5% below the market average36.5% below the market average36.5% below the market average36.5% below the market average36.5% below the market average
21.21% above the sector average21.21% above the sector average21.21% above the sector average21.21% above the sector average21.21% above the sector average
Price Trend
58.22% above the market average58.22% above the market average58.22% above the market average58.22% above the market average58.22% above the market average
82.35% above the sector average82.35% above the sector average82.35% above the sector average82.35% above the sector average82.35% above the sector average
Income Not Available
Growth
60.78% above the market average60.78% above the market average60.78% above the market average60.78% above the market average60.78% above the market average
54.84% above the sector average54.84% above the sector average54.84% above the sector average54.84% above the sector average54.84% above the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
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Ilika Dividends

No dividends found

Trades for 28-May-2025

Time Volume / Share Price
15:59 22,888 @ 34.90p
16:27 3,745 @ 34.10p
16:00 17 @ 35.00p
16:00 11 @ 34.00p
16:00 4 @ 35.00p

Ilika Key Personnel

CEO Graeme Purdy
Chair Keith Jackson

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