Ilika PLC (AIM:IKA, OTCQX:ILIKF) provided a trading update for the six months to 31 October, reporting progress across its Stereax and Goliath solid-state battery programmes.
The company, in a statement ahead of financial results to be released in January, confirmed its Stereax M300 micro-battery production line at Cirtec Medical’s Massachusetts facility had completed process qualification.
It also highlighted that customer testing had validated its Goliath 2Ah P1 cells.
“Initial deliveries of Stereax M300 batteries to lead customers are targeted to commence in Q4 2025,” Ilika added.
Ilika expects revenue for the period of £0.6 million, reflecting the early stages of the DRIVE35 programme, and anticipates an EBITDA loss of £3.2 million due to increased development and prototype manufacturing costs.
The company said it remains on course to ship 10Ah Goliath prototypes in December, followed by 50Ah versions depending on customer demand.