Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTProactiveFri, July 3, 2026 at 8:36 AM GMT+2 2 min readlika raises £4.56m to commercialise solid-state batteries technology Proactive uses images sourced from ShutterstockIlika PLC (AIM:IKA, OTCQX:ILIKF, FRA:I8A), the UK developer of solid-state battery technology, has raised £4.56 million before expenses through an oversubscribed share placing and subscription.Solid-state batteries replace the flammable liquid electrolyte found in conventional lithium-ion cells with a solid material, which promises greater safety, energy density and a longer lifespan.The AIM-listed company issued 16.3 million new ordinary shares at 28 pence each, with Cavendish acting as bookrunner.It plans to raise up to a further £500,000 through a retail offer to existing shareholders at the same price.The net proceeds will fund the commercialisation of Ilika's two battery lines, the small-format Stereax and the large-format Goliath.Up to £2 million will support the rollout and scaling of Stereax, which is designed for active implantable medical devices such as pacemakers and neurostimulators.That work includes product optimisation with Cirtec Medical, a US medical device manufacturer, alongside testing and validation of the M300 battery to enable sales and trigger initial royalty payments.Ilika described those royalties, which would be triggered by delivering M300 batteries into customer testing programmes, as a critical commercial milestone that would validate its licensing model.Up to £3 million will support Goliath, the company's electric vehicle battery, as it moves from finalising technical specifications towards licensing.That budget covers prototype and production optimisation, the purchase of battery formation equipment, test programmes and delivery of a 10 ampere-hour minimum viable product.Ilika expects that product to generate initial revenues from Goliath in markets including defence and consumer electronics, ahead of wider commercialisation in electric vehicles.The company is also progressing discussions with electric vehicle manufacturers over a 10 ampere-hour cell, which alongside earlier development work opens up options to license the technology in the automotive market.The company said the Goliath roadmap had reached an intersection point with what it called the urgent sovereign needs of the defence sector.Graeme Purdy, chief executive, thanked new and existing investors and said the money would help optimise Goliath prototypes and fund equipment for the company's first Goliath product.Ilika held cash and cash equivalents of £5.3 million as at 30 April, and said the fundraising would provide working capital to reach several technical and commercial milestones.Terms and Privacy PolicyEU DSA contactPrivacy & Cookie SettingsMore Info