Ilika PLC (AIM:IKA, OTCQX:ILIKF) shares rose by more than 22% this morning to 51.4p per share after it revealed its electric vehicle (EV) battery programme had achieved lithium-ion energy density parity.
The company said today that its Goliath large-format EV battery programme has achieved lithium-ion energy density parity, reaching its 2023 intermediate technology development target.
This milestone indicates that Ilika’s Goliath solid-state pouch cell can now match the energy density of traditional lithium-ion pouch cells, boasting an energy density of 250 watt-hours per kilogram (Wh/kg) and a capacity of 0.715 ampere hours (Ah).
It could justify building a full-pilot facility to demonstrate that the technology can be licensed for third-party gigafactory-scale implementation.
This advancement marks a step forward in its plan to commercialise Goliath cells, offering electric car producers the option of solid-state batteries.
The potential benefits of the technology include faster charging, a longer lifespan, better temperature resilience and improved safety, without compromising on size, space or range.