Ilika announces key Goliath development milestone

(Sharecast News) - Solid-state battery technology developer Ilika announced a key development milestone on Thursday, with the successful completion of testing on its Goliath D5 prototypes. The AIM-traded firm said the tests confirmed that Ilika's batteries offered superior safety compared to traditional lithium-ion cells, marking significant progress in the development of solid-state batteries for electric vehicles (EVs).

It said the Goliath D5 prototypes demonstrated enhanced safety across key variables, reinforcing their potential to provide lighter, safer, and cheaper EV batteries with longer ranges and faster charging capabilities.

The D5 tests, conducted as part of Ilika's minimum viable product (MVP) roadmap, confirmed its progress since its D4 data point, achieved in 2023.

The tests, which were supported by the Faraday Institution's 'Safebatt' programme, showed that puncturing the D5 prototypes resulted in a EUCAR 3 hazard classification - no leakage, no fire, and no explosion - compared to a more severe EUCAR 6 event for lithium-ion batteries, which involved rupture, fire, and flame.

Additionally, the D5 cells were found to operate at failure temperatures around 300 degrees Celsius lower than their lithium-ion counterparts, further enhancing safety.

The D5 prototypes also demonstrated improved capacity at higher discharge rates, with the ability to discharge at twice the rate of previous P1 prototypes without loss of capacity.

Ilika said the improved safety profile meant EV designers could reduce the mechanical protection needed for battery packs, enabling lighter and less expensive designs while extending the vehicle's range.

Ilika said it was continuing to develop its Goliath roadmap, with further advancements expected in 2025 as the company worked towards its MVP samples and future licensing opportunities.

"While our test programme will continue throughout our journey to a minimum viable product, we're delighted with this positive outcome," said Ilika chief executive officer Graeme Purdy.

"The validity of the results is enhanced by the independent execution of the tests carried out by University College London and the University of Oxford under the Faraday Institution's Safebatt Industrial Sprint programme and by DEKRA.

"Meeting our D5 milestone pushes our technology further along the curve towards D6, which is a data point for larger area 10Ah batteries, the results of which we expect to announce in November 2024."

At 1225 BST, shares in Ilika were up 2.96% at 24.19p.

Reporting by Josh White for Sharecast.com.