Key Technology Validation Milestone

Ilika (AIM: IKA), a pioneer in solid-state battery technology, announces that it has shipped its first batch of prototype Goliath batteries for customer testing by a tier 1 automotive company.

In May 2024, Ilika announced it had commenced in-house testing of its P1 Goliath prototype batteries in a customer-sponsored programme. Ilika has now shipped its first batch of P1 batteries to a customer for their external validation.

In November 2023, Ilika announced it had achieved its D4 development point, which is a design-freeze milestone in its Goliath roadmap upon which Ilika's first prototype for customer release, P1, is based. The P1 prototype is an intermediate milestone on Ilika's roadmap to its minimum viable product ("MVP") in 2025. The P1 prototype is a solid-state pouch cell with an NMC cathode and a silicon anode.

In line with the timeframe outlined when it published its last annual results in July 2023, Ilika confirms that it has successfully manufactured and tested batches of P1 pouch cells based on the D4 development point and is now engaged in a series of commercial programmes with automotive OEMs and Tier 1 companies.

Work is continuing on Ilika's roadmap through to MVP in CY25. Ilika's Goliath MVP, or P2 prototypes, will underpin licensing opportunities. Further detail regarding the product curve and development points can be found on page 11 of the Company's 2023 Annual Report, which is available by clicking here.

Graeme Purdy, Ilika CEO, stated: "Following up on the encouraging results from our P1 test programme, we are delighted to be engaging with a portfolio of interested OEMs and Tier 1 companies on commercially sponsored evaluation trials."