Ilika plc (LSE:IKA) has secured £1.25 million in funding from the UK Government’s DRIVE35 initiative to support the production of its Goliath A-Sample batteries designed for electric vehicle applications. The grant is part of a wider £3 million collaborative project involving the High Speed Sustainable Manufacturing Institute (HSSMI) and the UK Battery Industrialisation Centre. The project, known as PRIMED, aims to accelerate the industrialization of Ilika’s solid-state battery technology and strengthen the UK’s leadership in advanced battery innovation.
The funding marks a positive step for Ilika as it continues to scale its Goliath platform, although broader financial challenges and valuation concerns remain a drag on sentiment. While the grant and strategic progress in product development offer encouraging signs, the company’s financial position still presents key risks for investors.
About Ilika plc
Ilika plc is a pioneer in solid-state battery technology, specializing in next-generation energy storage solutions for sectors such as electric vehicles, medical devices, and smart consumer electronics. The company’s product portfolio includes the Stereax line for miniature medical and IoT applications, and the Goliath platform, targeting large-format uses like EVs and power tools. Operating primarily under a licensing model, Ilika provides intellectual property to original equipment manufacturers and partners in exchange for licensing fees and future royalties.
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