Ilika PLC (AIM:IKA, OTCQX:ILIKF) CEO Graeme Purdy described as a 'key marker' successful testing of the 10Ah cells in its Goliath batteries for electric vehicles.
By achieving its 'D6 milestone' the company has confirmed the increased capacity of the Goliath batteries and follows recent safety data from earlier prototypes.
Ilika is now preparing for its next development phase, aiming to finalise a D7 design by early 2025.
This will lead to the release of upgraded prototype cells, providing automotive manufacturers with further proof of the technology's capabilities.
Ilika's Goliath batteries are designed to offer advantages over current lithium-ion models, including improved safety, higher energy density, and faster charging.
Early modelling by Balance Batteries, a UK-based company, suggests that a Goliath-powered battery pack could weigh up to 100 kilograms less than existing models, potentially increasing vehicle range and lowering costs.
The company plans to release a minimum viable product with 50Ah capacity by the end of 2025, paving the way for licensing opportunities and broader industry adoption.
"Meeting our D6 development milestone on schedule is a key marker to ensure that we are progressing towards an MVP that meets or exceeds customer expectations," said CEO Purdy.
"Safety is a key differentiator for solid-state technology in the electric vehicle market but also differentiates Ilika versus its solid-state peers as it seeks to lead the sector on this point. Today's test results demonstrate the additional capacity of our cells at 10Ah."