Ilika PLC (AIM:IKA, OTCQX:ILIKF) said it is making good progress on its Steareax miniature solid-state batteries and Goliath electric vehicle (EV) power units towards commercial sales.
Over the next six months, it will work on a commercial ramp-up for Stereax with US partner Cirtec and in the UK towards requests for quotations from car makers for Goliath.
Graeme Purdy, chief executive, commented: "We were delighted to successfully convert our memorandum of understanding with Cirtec into a ten-year licensing arrangement.
“Both companies are now working hard to implement Stereax manufacturing at Cirtec's facility in the US.
"Regarding Goliath, we have successfully delivered against our technology roadmap, with two key milestones achieved at the end of 2023.
“Having reached lithium-ion energy density parity, and continuing to work towards further energy and power density milestones, we have proved that our batteries stand to deliver the clear benefits of solid-state architecture, and from here we will continue to pursue further energy and power density milestones.”
Revenues in the six months to the end of October 2023 rose to £1.33 million, comprising research grants, while half-year losses cropped to £2.94 million (£5.03 million).
Cash at the end of the period was £13.2 million.