Analysts at broker Liberum reiterated its buy rating on Ilika PLC (AIM:IKA, OTCQX:ILIKF) shares, highlighting the group’s £3.4 million capital raise to support the advancement of its Goliath solid-state battery (SSB) projects.
This initiative aims to expand the target capacity from 0.5 to 1.5 MWh/a, enabling the company to scale production volumes and refine its technology.
The increased capacity is designed to meet the stringent requirements of the automotive industry, allowing Ilika “to scale production volumes and mature its technology to the level required to respond to automotive requests for quotation (RFQ) by the end of 1H 2025”, said Liberum.
“This should take Goliath through to (minimum viable product) and partner prototype, which is a crucial precursor to commercial ramp up,” added the broker.
Liberum gave the stock a 65p price target against a 29.5p publication price.