Ilika PLC (AIM:IKA, OTCQX:ILIKF, FRA:I8A) CEO Graeme Purdy talked with Proactive about the company’s latest operational milestones, early revenues, and progress across both its Stereax and Goliath solid-state battery programmes following the release of Ilika’s half-year results.
Purdy explained that Ilika has resumed deliveries of Stereax batteries after successfully completing the technology transfer to manufacturing partner Cirtec Medical in the US. Customers are now receiving physical product again, allowing them to restart engineering work and integrate Stereax batteries into their own technology platforms. Importantly, Ilika has also announced its first follow-on commercial order for electrodes, a manufacturing step retained in the UK, marking the start of revenue generation from Stereax.
Turning to Goliath, Purdy outlined how customer validation has now been completed on both the 2Ah and larger 10Ah solid-state cells. Feedback from early testing helped identify the strengths of the technology and confirmed Ilika’s competitive position. He noted that a Tier One customer described Ilika as being “in the leading cohort of solid state battery developers”, which he said was reassuring as the company scales up.
The 10Ah Goliath cells are now with customers and represent a credible size for module and pack integration. Purdy highlighted the potential value proposition for electric vehicle manufacturers, including lower pack costs, weight reductions of around 20%, improved range, and faster charging times.
Looking ahead, Purdy said Ilika is focused on further validation, agreeing minimum viable products with customers, and identifying early commercial opportunities, potentially at the 10Ah scale, in order to freeze product design and begin generating revenues.
Proactive: Graeme, great to speak to you again. You’re out with your half-year report to the end of October today and you’ve hit lots of milestones. Stereax moved from qualification into initial production. What does that change in practical terms for customers and for your revenues?
Graeme Purdy: It’s very exciting that we’re able to resume deliveries of our Stereax batteries. A couple of years ago, before we initiated the tech transfer to Cirtec Medical, we were delivering evaluation samples from our pilot line. We’ve helped Cirtec set up this production line in the US and, just before Christmas, we were able to resume deliveries. Customers are delighted to get the physical product again and resume their engineering activities, building Stereax batteries into their technology platforms and applications.
Proactive: And you’ve had your first sale as well?
Graeme Purdy: Yes. Just yesterday, we announced our first follow-on order for electrodes, which is part of the manufacturing process we’ve retained in the UK. That’s generating revenue and will go onto our P&L.
Proactive: On Goliath, customers have now validated both your 2Ah power and your 10Ah cells. What’s the most important feedback you’re getting at this stage?
Graeme Purdy: The 2Ah cells were sent out in 2024 and we received feedback at the beginning of the current financial year. That feedback was really useful and highlighted the strengths and weaknesses of the technology. We received a great quote from a Tier One developer who said we’re in the leading cohort of solid-state battery developers. We’ve now scaled up five times from 2Ah to 10Ah, and those batteries are currently with customers, including OEMs and Tier Ones. We’re looking for further validation because 10Ah is now credible for integration into modules and packs.
Proactive: The 10Ah Goliath cells promise big savings on cost and weight. How close does that put you to something an EV maker could adopt?
Graeme Purdy: You need a compelling proposition. People have invested heavily in gigafactories and established supply chains, so they’re looking for a real differentiator. The saving of around £2,500, or $3,000, at the battery pack level is a driver, alongside a 20% reduction in weight, a corresponding increase in range, and a reduction in charge time from 18 minutes to 12 minutes. That’s a very compelling value proposition for vehicle designers.
Proactive: Grant funding has been key, but revenues are still modest. How do you balance funding, cash burn, and momentum as you scale up?
Graeme Purdy: Grant funding has been very important. We currently have an active programme called PRIMED, managed by the Advanced Propulsion Centre in the UK. It allows us to collaborate with Jaguar Land Rover, receive guidance from Professor Paul Shearing at the University of Oxford, and work with the UK Battery Industrialisation Centre, which manufactures some of the components that go into our devices.
Proactive: Looking ahead into 2026, what needs to go right for Ilika to move from evaluation programmes into real commercial traction?
Graeme Purdy: We’re focused on getting positive feedback on the 10Ah cells and refining the design if needed. We want to agree minimum viable products with customers. We’ve previously indicated we could go as far as a 50Ah pouch cell, but we’re looking for early opportunities to commercialise, perhaps closer to the 10Ah scale. Ultimately, we want to freeze a product design and start generating revenue, then scale manufacturing through partnerships, similar to what we’ve done with Cirtec for Stereax.