Ilika begins shipping next-generation solid-state batteries

Ilika has begun shipping its new Goliath 10Ah solid‑state battery prototypes to customers including carmakers, offering five times the capacity of its 2Ah units launched in July 2024; the cells were produced on an automated pilot line completed in October 2025 that achieved a 93% yield, signaling manufacturing scalability and advancing the company toward commercial production and licensing discussions. Early 50Ah P2 samples have been made but will only be shipped after customer feedback expected in 2026. Ilika is emphasising a proprietary oxide coating to enhance safety and claims the technology could cut pack weight by about 20% and roughly £2,500 from the cost of an EV per analysis by Balance Batteries, a potential competitive advantage for OEMs and suppliers.

Analysis

Ilika has commenced deliveries of its Goliath 10Ah solid-state battery prototypes to customers including carmakers, with the new cells offering five times the capacity of the 2Ah units released in July 2024. These 10Ah prototypes were produced on an automated pilot line completed in October 2025, and Ilika reported a 93% yield on the first run, a metric the company highlights as a threshold proof point for scaling beyond lab production.

Management frames the pilot-line achievement as a step toward commercial production and licensing discussions, and the group has already produced early 50Ah P2 samples that will be shipped only after customer feedback expected in 2026. A proprietary oxide coating is being promoted to enhance safety and enable lighter, cheaper packs; consultancy Balance Batteries estimates the coating could lower pack weight by about 20% and reduce roughly £2,500 from the cost of each EV.

Key near-term readouts are customer evaluations and any OEM validation of safety and pack-level performance; until those are public, commercial revenue and licensing timing remain unproven. The pilot yield and prototype shipments materially de-risk development but do not eliminate execution risk around scale-up, integration into vehicle platforms, or verification of the claimed weight and cost benefits.

Key Decisions for Investors

• Consider a limited, staged exposure rather than a full position given the positive pilot-line yield (93%) and prototype shipments but unproven commercial adoption
• Monitor three near-term triggers closely: customer feedback due in 2026, OEM validation/integration of the 10Ah cells, and independent verification of the oxide coating’s pack-level weight and cost benefits
• Avoid heavy allocation until Ilika demonstrates repeatable commercial-scale yields and announces concrete licensing or supply agreements, since pilot success does not guarantee profitability
• Use position sizing or hedges to manage execution risk and reassess after the decision to ship 50Ah P2 samples or any announced licensing deals