GCIIlika achieves key milestone in Goliath battery roadmap
Achieving the D4 milestone means meeting key data targets, such as energy and power density, indicating progress towards reaching lithium-ion energy parity by year-end. This achievement enables the creation of P1 samples for sale to OEMs for testing. Ilika intends to manufacture and test pouch cells based on D4 before supplying fully characterised P1 cells to 15 customers in 2024, primarily automotive OEMs and Tier 1 suppliers.
Its roadmap continues advancing towards the D8 milestone by late 2024, marking the path to the MVP with P2 prototypes stackable to 30 layers.
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Goliath is Ilika's Wh-level solid state battery technology for electric vehicles and cordless consumer electronics. These cells combine an oxide solid electrolyte and a silicon anode, providing substantial safety benefits throughout manufacturing, storage, and usage phases.
They can operate to higher temperatures than lithium ion, enabling a less complex battery management system and resulting in a higher cell to pack ratio, lighter vehicles, higher energy and power density, extended range and fast charging.
On the financial front, Ilika reported a total revenue of £0.8m in FY23, with its EBITDA loss improving to £7.0m in 2023 compared to £6.4m in 2022. As of April 30, 2023, Ilika holds £15.9m in cash, down from £23.4m in 2022.
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