Ilika, a company based in Romsey, anticipates reporting revenues of approximately £2.1 million for the year ending April 30, a significant increase from £0.7 million in 2023. This growth is driven by advancements in manufacturing its Stereax miniature solid-state batteries and Goliath cells for electric vehicles and cordless appliances.
The AIM-listed company noted in a stock market statement that unaudited trading for the year has met management expectations. For the same period, Ilika projects an earnings before interest, tax, depreciation, and amortisation (EBITDA) loss, excluding share-based payments, of around £4.5 million, an improvement from the £7 million EBITDA loss in 2023.
As of April 30, Ilika’s cash and cash equivalents were £11.9 million, compared to £15.8 million on the same date the previous year.
Operational achievements included transferring the manufacturing of its thin-film Stereax miniature solid-state batteries (SSBs) to Cirtec Medical. These batteries are used to power medical devices and industrial wireless sensors in specialised environments.
Additionally, Ilika recently announced that Agratas, a global battery business from the Tata Group, joined its SiSTEM grant-funded scale-up activity.
Ilika and Agratas have also entered into a 12-month agreement to support Ilika’s development milestone, D8 (50Ah, chemistry frozen), expected in the first half of 2025. This partnership aims to create licencing opportunities and explore broader collaborations.
Ilika plc (LON:IKA) is a pioneer in solid state battery technology enabling solutions for applications in Industrial IoT, MedTech, Electric Vehicles and Consumer Electronics.
