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RNS Number : 1574F  Ilika plc  21 May 2026

21 May 2026

Ilika plc

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

 

Ilika Trading Update and Notice of Results

 

Ilika (AIM: IKA), the UK pioneer in solid-state battery technology, provides
an update on trading as well as issuing its notice of full year results for
the year ended 30 April 2026.

 

Stereax Update - Delivering First Revenues

Ilika continues to implement the ten-year manufacturing licence in place with
Cirtec Medical LLC (Cirtec) to produce the Stereax range of miniature
batteries at Cirtec's facility in Lowell, Massachusetts, US. Cirtec is an
industry-leading strategic outsourcing partner of complex medical devices,
including minimally invasive and active implantable devices. In August 2025,
Ilika and Cirtec completed the manufacturing process qualification for Stereax
batteries. This was followed by the dispatch of prototype batteries to
customers in December 2025. Cathode manufacturing initially remains at Ilika's
UK facility as a sub-contract service to Cirtec. In January 2026, Ilika
secured its first revenue-generating purchase order from Cirtec for the supply
of Stereax electrodes, marking the commercial transition of this strategic
partnership. In March 2026, Ilika successfully delivered its initial batch of
Stereax electrodes to Cirtec.

 

Goliath Update - Broadening End Use Optionality

At the beginning of the period, Ilika received automotive customer validation
of its large format 2Ah P1 prototype batteries, confirming they "perform to
specification, putting them in the cohort of leading solid-state batteries."
In July 2025, Ilika announced it had secured £1.25m grant funding from the UK
Government's DRIVE35 programme to produce Goliath A-Samples on industrial
equipment, working with the UK Battery Industrialisation Centre (UKBIC) with
steering support from Jaguar Land Rover and the University of Oxford. In
October 2025, Ilika commissioned its automated assembly line for the
manufacture of prototype 10Ah Goliath cells, which it started shipping at the
end of 2025 to customers for evaluation.

 

In March 2026, Ilika received positive feedback from a UK defence agency on
safety tests of its batteries under battlefield conditions, highlighting the
potential of the technology for use in high-risk, mission-critical
environments where safety is paramount. The Ilika commercial team is building
on this positive feedback by engaging with a portfolio of defence companies
which are looking to supply European defence forces with power solutions for
the modern defence environment, where automation has become dominant.

 

The following month, in April 2026, Ilika announced a joint development
programme to integrate its 10Ah Goliath prototypes into Brompton's battery
packs for its next generation of foldable e-bikes. Brompton is globally
regarded as a category leader in folding bikes, supported by strong brand
equity, export reach, and a reputation for engineering quality.

 

The announcements regarding suitability of Goliath for defence applications
and e-bikes result from Ilika's continued interaction with a portfolio of
automotive, defence and consumer appliance original equipment manufacturers
(OEMs) and Tier 1 suppliers globally, resulting in a pipeline of evaluation
agreements with 27 companies.

 

Trading Update for FY26

The Company expects to announce revenues of approximately £1.1m, including
£100k of commercial revenue from Stereax electrode sales (2025: £1.1m),
and an EBITDA loss excluding share-based payments of
approximately £6.2m (2025: EBITDA loss of £5.2m). Cash and cash
equivalents at the period end were £5.3m (30 April 2025: £8.0m).

 

 

Notice of Results

Ilika expects to announce its audited full year results for the year ended 30
April 2026 on Wednesday 29 July 2026.

 

Analyst Briefing

The management team will be hosting a hybrid analyst briefing on Wednesday 29
July 2026, at 9.30am BST. Analysts who wish to attend should contact FTI
Consulting at ilika@fticonsulting.com to register.

 

Investor Presentation

An investor presentation will be held on Wednesday 29 July 2026, at 4.30pm BST
and will be hosted through the digital platform, Investor Meet Company.

 

The presentation is open to all existing and potential shareholders. Questions
can be submitted pre-event via your Investor Meet Company dashboard up until
Tuesday 28 July 2026, 9.00 am BST, or at any time during the live
presentation.

 

Investors can sign up to Investor Meet Company for free and add to meet Ilika
plc via the following
link: https://www.investormeetcompany.com/ilika-plc/register-investor
(https://www.investormeetcompany.com/ilika-plc/register-investor)  .

 

Investors who already follow Ilika on the Investor Meet Company platform will
automatically be invited. For more information, please contact FTI Consulting
at: ilika@fticonsulting.com.

 

ENDS

 

Enquiries:

 

 Ilika Plc                                             www.ilika.com (https://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

 

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 are
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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