Ilika announced progress in developing its Goliath solid-state battery technology, supported by safety tests carried out by University College London (UCL). The tests demonstrated that Ilika’s Goliath prototypes offer significantly better safety than conventional lithium-ion batteries. This development is a notable step forward in the battery storage industry, as the technology not only provides greater safety but also delivers improved energy density.
During the independent nail penetration test, typically used to assess battery safety, conventional lithium-ion batteries tend to swell, explode, or catch fire. In contrast, Ilika’s Goliath P1 prototype remained stable, with its external temperature staying below 80°C, compared to the dangerous 600°C seen in standard batteries. These findings reinforce Ilika’s position at the forefront of solid-state battery innovation, with potential applications across various sectors.
Lacie Midgley, a research analyst at Panmure Liberum, remarked that these results highlight the enhanced safety profile of solid-state batteries and validate their potential alongside their higher energy density. In light of this, Panmure Liberum has reaffirmed its BUY recommendation for Ilika’s stock, with a target price of 70p, representing a significant increase from the current share price of 24p.
The Goliath battery project is viewed as one of Ilika’s key growth initiatives, with solid-state batteries offering both safety benefits and higher energy density. This positions the company to seize opportunities in markets like electric vehicles (EVs), where demand for safe and efficient batteries is rapidly rising. As the industry for solid-state batteries continues to evolve, Ilika stands out by prioritising both safety and performance.
Looking ahead, Ilika’s Goliath programme is expected to hit several important milestones, potentially paving the way for substantial licensing deals with major companies and equipment manufacturers. Analysts at Panmure Liberum believe that the company is undervalued and that the market will soon recognise the full potential of the Goliath project, which accounts for a large portion of the firm’s valuation.
Ilika is emerging as a leader in the solid-state battery field, with its Goliath technology offering great promise. The successful safety trials demonstrate the strength of the design, and with significant market opportunities on the horizon, the company is well-placed for growth. Panmure Liberum’s continued confidence, supported by their BUY recommendation, underscores Ilika’s bright future in the evolving battery industry. Investors may want to keep a close watch as Ilika moves towards commercialisation.
