Ilika PLC on Wednesday said it has reached its technology development target of lithium-ion energy density parity in its Goliath EV batter programme.

Ilika shares jumped 23% to 51.56 pence each on Wednesday morning in London.

The Romsey, England-based solid-state battery technology company explained that this means its Goliath solid-state pouch cell can now match the energy density of current lithium-ion pouch cells.

It noted that the effective energy density achieved was 250 watt-hours per kilogram, and a capacity of 0.715 ampere-hours.

The firm said the ‘significant milestone’ validates its approach, and ‘supports the justification for investment in a full-pilot facility configured to demonstrate that the technology can be licensed for third-party giga-scale implementation’.

Ilika added that the commercialisation of the Goliath cells will give EV producers the benefits of solid-state batteries, including improved safety, faster charging and longer lifespan, without requiring sacrifices on space and effective range.

Chief Executive Graeme Purdy said: ‘We have reached yet another major milestone on Ilika’s roadmap, validating the effectiveness of the Company’s technology development programme. This key achievement in our cutting-edge Goliath battery re-emphasizes the strength of our solution and further demonstrates Ilika’s differentiation as we strive for a more sustainable future.

‘Solid-state technology stands to transform the EV market in terms of performance, safety and accessibility. Indeed, as the technology continues to develop there is the potential for further energy density improvements that will allow additional size and weight reduction.’

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