Ilika PLC (AIM:IKA, OTCQX:ILIKF) were higher in early afternoon trading following positive safety results for its Goliath solid-state battery prototypes.
Independent testing was conducted by University College London and showed that the Goliath P1 cells outperformed their lithium-ion counterparts in terms of safety, the company highlighted. The assessment involved a nail penetration test, designed to simulate a catastrophic failure scenario.
Panmure Liberum, restating its 'buy' recommendation and 70p price target, told investors: "The tests highlight the well-documented improved safety of solid-state battery technology and provide more proof of the technology's use case alongside its higher energy density."
At 1.10 pm, the shares were 1.08p, or 4%, at 25.08p.