Ilika Hits Key Solid-State Battery Milestones as Commercial Rollout Gathers Pace

Ilika plc ( (GB:IKA) ) has provided an announcement.

Ilika reported half-year results showing it has met key technical and commercial milestones across both its Stereax and Goliath solid-state battery programmes, despite lower revenues and a widened EBITDA loss. The group completed process qualification and initiated production of Stereax batteries at Cirtec Medical’s US facility, began delivering M300 prototype samples and secured an initial revenue-generating purchase order for Stereax electrodes, while maintaining active engagement with 21 customers in medical and industrial applications. On the Goliath side, Ilika’s 2Ah prototypes were validated by a customer as being among the leading solid-state offerings, its new 1.5MWh pilot line was commissioned and the first 10Ah prototypes—promising substantial cost and weight savings per EV—were shipped for evaluation, expanding its evaluation pipeline to 27 automotive, appliance and defence customers. Financially, the company generated £0.6m in revenue, all from grant funding, posted an EBITDA loss of £3.2m and ended the period with £6.9m in cash after a £4.2m fundraising, while signalling that existing DRIVE35 grant funds will be fully deployed in early 2026 and that continuity of future grant support may be uneven, a factor investors will watch closely as Ilika pushes towards full commercialisation and gigafactory-scale adoption.

The most recent analyst rating on (GB:IKA) stock is a Hold with a £39.00 price target. To see the full list of analyst forecasts on Ilika plc stock, see the GB:IKA Stock Forecast page.

Spark’s Take on GB:IKA Stock

According to Spark, TipRanks’ AI Analyst, GB:IKA is a Neutral.

Ilika plc’s overall stock score is primarily influenced by its financial challenges and bearish technical indicators. However, the company’s strategic advancements in solid-state battery technology and collaborations with industry partners provide a positive outlook for future growth. The valuation remains unattractive due to negative earnings, but corporate events suggest potential for long-term improvement.

To see Spark’s full report on GB:IKA stock, click here.

More about Ilika plc

Ilika plc is a UK-based developer and commercialiser of solid-state battery technology, using ceramic-based lithium-ion designs that offer higher safety, thermal tolerance and recyclability than conventional batteries. The company focuses on two product lines: Stereax miniature solid-state batteries for medical implants, industrial wireless sensors and specialist IoT applications, and large-format Goliath cells targeting electric vehicles and cordless appliances, with a business model centred on IP development, pilot-scale manufacturing and licensing for high-performance markets.

Average Trading Volume: 190,568

Technical Sentiment Signal: Sell

Current Market Cap: £66M

For detailed information about IKA stock, go to TipRanks’ Stock Analysis page.