Ilika Achieves Key Milestone in Goliath EV Battery Development
Why we think this is good
The RNS provides a positive update on the development progress of Ilika's Goliath EV battery technology, highlighting the successful prototyping of a 50Ah battery, which is a key milestone towards commercialization. The company has also demonstrated manufacturing capabilities in a giga-scale factory setting and made progress in 2024 with commercial testing and safety data release. There are no significant negative factors or red flags identified in the information provided.
Key Points
- Successful prototyping of a 50Ah Goliath EV battery, a key targeted outcome
- Demonstration of manufacturing in a giga-scale factory setting using industry standard equipment
- Progress made in 2024 including commercial testing, shipping of first prototype batteries, and release of validated safety data
- Targeting initial release of batteries of this capacity for partner evaluation from end of 2025
Summary
Ilika plc has successfully prototyped a 50Ah Goliath electric vehicle (EV) battery, which is a key targeted outcome of the Faraday Battery Challenge HISTORY programme. The 50Ah prototype is the capacity of battery Ilika will now optimise for its minimum viable product for EVs. The battery is expected to reduce costs, increase the range of EVs and reduce their charging time.
This successful prototype build follows the recently announced demonstration of manufacturing in a giga-scale factory setting, using industry standard equipment at the UK Battery Industrialisation Centre, marking the latest step towards commercialization. It builds on the progress made in 2024 which included the start of commercial testing, shipping of the first batch of prototype Goliath batteries to customers, and the release of validated safety data.
Ilika will now undertake further optimisation based on the initial test results, before commencing a build and test programme in H2 CY 2025. The Company is targeting an initial release of batteries of this capacity for partner evaluation from the end of CY 2025.