Ilika Reports Milestones in Solid‑State Battery Development

Ilika plc (AIM: IKA), the UK pioneer in solid‑state battery technology, has released a trading update for the six‑month period ending 31 October 2025 that outlined both financial pressures and operational breakthroughs. Operational Progress In the company’s Stereax micro‑battery programme—targeted at medical implants and wireless sensors—Ilika’s manufacturing partner Cirtec Medical Corp. completed the process qualification of the M300 production line at its Massachusetts facility in August 2025, marking the final technical milestone ahead of production. Deliveries to lead customers are now targeted for Q4 2025, barring any US–UK logistics delays. In the Goliath large‑format battery programme—for electric vehicles and consumer appliances—Ilika confirmed that its 2 Ah P1 cell prototypes were validated by OEM and Tier‑1 partners. In July the company received a £1.25 million grant under a £3 million UK programme run by the Advanced Propulsion Centre to support automotive “A‑Sample” development. An automated pilot production line has been commissioned, paving the way for 10 Ah prototypes due in December 2025 and 50 Ah cells thereafter, subject to customer feedback and demand. Financial Snapshot Revenue for the period is expected to be approximately £0.6 million, down from £1.0 million in H1 2024/25, largely due to the phasing of income from the government‑funded Drive35 Primed programme which began in August. EBITDA (excluding share‑based payments) is projected at a loss of £3.2 million, up from a £1.9 million loss in the previous year, attributed to ramping costs associated with development, manufacturing and testing of new prototypes. Cash and cash equivalents at period‑end were £6.9 million, compared with £10.1 million a year earlier. Outlook Ilika remains on course to release 10 Ah Goliath prototypes this December, followed by 50 Ah cells conditioned on external testing and demand. Meanwhile, initial customer deliveries of Stereax M300 micro‑batteries are targeted for Q4 2025. The company will publish its half‑year results on 22 January 2026. With the dual tracks of micro‑implant batteries and large‑format automotive cells, Ilika is positioning itself at the intersection of medical devices and EV battery innovation. The near‑term challenge will be cash‑management amid ongoing investment, while the longer‑term play hinges on scale‑up and licensing of its technologies. #BatteryTechnology #SolidStateBatteries #IlikaProgress #EVInnovation #SlimScan #GrowthStocks #CANSLIM