Shares in Ilika PLC (AIM:IKA, OTCQX:ILIKF) rose 4% to 44.2p after the solid-state battery developer began shipping its latest 10Ah Goliath prototypes, a step the company said keeps it on schedule for commercialisation.
The new cells, aimed at customers across several industries, including automotive, offer five times the capacity of the 2Ah versions released in July 2024. They are the first to be produced on Ilika’s automated pilot line, completed in October, which achieved a 93 per cent yield on its initial manufacturing run.
Ilika has also produced early samples of larger 50Ah P2 cells, although these will not be dispatched until customers have evaluated the 10Ah generation, which is expected in 2026.
Graeme Purdy, chief executive, said: “We are excited that our new automated pilot line is now producing high-quality, consistent battery prototypes for our partners to evaluate. This achievement is a significant milestone toward bringing our technology to market, further opening the window for licensing discussions with manufacturers.”
Broker Cavendish reiterated its 'buy' call and 130p price target. In a note, it told investors: "These developments have been important milestones in the commercial development of the Goliath product range."