REG - Ilika plc - Goliath P1 Cells Validated by Customer Testing

IlikaAnnouncement

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RNS Number : 8702G  Ilika plc  01 May 2025

Ilika plc

("Ilika", the "Group", or the "Company")

 

Goliath P1 Cells Validated by Customer Testing

 

Ilika (AIM: IKA), an independent global expert in solid-state battery
technology, announces that it has received confirmation from OEM and Tier 1
testing partners that its P1 Goliath prototypes perform to specification.

 

Further to its RNS of May 2024 announcing commencement of testing of P1
prototype cells on behalf of, and subsequently by, commercial partners, Ilika
confirms that the suite of tests including cell formation protocol,
measurement of energy capacity, charge rate, power delivery capability and
accelerated cyclability have confirmed the specification of its P1 cells.
Furthermore, the tests demonstrated good reproducibility across the batch and
delivered the expected electrochemical signature.

 

The tests were carried out under commercial agreements with confidentiality
provisions designed to protect proprietary duty cycle protocols owned by the
OEMs and Tier 1 companies. The test protocols used are representative of those
used to evaluate batteries for electric vehicles and, while the protocols vary
from one partner to another, the results have been consistent, and they are
globally relevant.

 

The Head of Battery Development at an UK-based electrification Tier 1
supplying global OEMs, stated, "We can confirm that we have completed testing
of Ilika's P1 prototypes and they perform to specification, putting them in
the cohort of leading solid-state batteries we have tested. We look forward to
evaluating further prototypes as Ilika progresses through its roadmap."

 

Graeme Purdy, Ilika CEO, stated, "Customer validation of our Goliath roadmap
is of primary importance to us to ensure that we are progressing towards a
minimum viable product that meets or exceeds customer expectations. Clearly,
this set of validations increases our confidence in the attractiveness of our
roadmap. We will continue to engage with a portfolio of potential
manufacturing partners to minimise commercialisation risk."

 

In parallel with the validation programmes carried out on its P1s, Ilika has
continued to develop its batteries as outlined in its 2024 annual report
(https://www.ilika.com/images/uploads/general/44827-Ilika-AR24-BOOK-WEB-v2.pdf)
. In October 2024, Ilika announced compelling safety test data validated by
the Faraday Institution's Safebatt programme. Ilika is currently conducting
in-house testing of larger 10Ah cells associated with its materials design
freeze before releasing its 10Ah (P1.5) prototypes in H2 CY25. Ilika's
near-term roadmap extends through to 50Ah minimum viable product (MVP), with
the first release expected at the end CY25. Ilika's Goliath MVP, or P2
prototypes, will underpin licensing opportunities.

 

ENDS

 

--

Enquiries:

 

 Ilika Plc                                             www.ilika.com (http://www.ilika.com/)
 Graeme Purdy, Chief Executive

                                                     Via FTI Consulting
 Jason Stewart, Chief Financial Officer

 Cavendish Capital Markets Limited (Nomad and Broker)  +44 (0)131 220 9772
 Peter Lynch

                                                     +44 (0)131 220 9771
 Neil McDonald

 FTI Consulting (Comms Advisors)                       ilika@fticonsulting.com

 Ben Brewerton

 Elizabeth Adams

 Dwight Burden

 

 

About Ilika plc - https://www.ilika.com (https://www.ilika.com/)

 

Ilika is a global expert in the development of solid state battery technology
for electric vehicles, medical devices and consumer appliances. The Company's
pioneering next-generation technologies aim to provide scalable, affordable
alternatives to conventional batteries, to industries which need to
incorporate a smaller, lighter, and safer power source in their products.

 

The Company has two product lines. Its Stereax batteries are designed for
powering miniature medical implants, industrial wireless sensors and Internet
of Things (IoT) applications and the Goliath large format batteries designed
for EV cars and cordless appliances.

 

Through its licensing business model, Ilika supplies its IP portfolio to both
OEMs and manufacturing partners in exchange for a license fee and future
royalties.

 

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