LONDON: Ilika plc (AIM: IKA) reported progress across its two solid-state battery product lines—Stereax® for medical and sensor applications and Goliath™ for electric vehicles (EVs)—for the year ended April 30, 2025.
During the period, the company transferred Stereax manufacturing operations to U.S. partner Cirtec Medical LLC and validated its Goliath P1 battery prototypes. Ilika secured £4.2 million in post-year fundraising to accelerate development and commercialization efforts.
“Stereax enables innovative solutions for implantable devices with minimal competition,” said CEO Graeme Purdy. “Meanwhile, Goliath demonstrates performance gains in weight reduction, range, and charging speed for EVs.”
Ilika completed equipment installation for Stereax at Cirtec’s Massachusetts cleanroom facility and plans commercial M300 samples in 2025. It supported 21 AIMD customers with development pipelines.
For Goliath, Ilika executed grant-backed projects with BMW, Fortescue Zero, and Agratas, delivering a 50Ah prototype and expanding pilot production to 1.5 MWh annually. The company also advanced safety data validation and industrial-scale electrolyte preparation.
Ilika holds 78 granted patents and recorded turnover of £1.1 million, down from £2.1 million, and an EBITDA-adjusted loss of £5.2 million.
Looking ahead, Ilika expects Stereax revenue recognition in calendar year 2025 and the release of P2 Goliath prototypes by year-end, positioning both lines for commercial growth and licensing.