Ilika PLC on Friday said its annual guidance was unchanged as it anticipated a revenue decline due to the timing of grant funded projects, while noting progress for its Goliath programme.
The Romsey, England-based solid-state battery technology company said it expects to report revenue of £1.0 million for the six months to October 31, down 23% from £1.3 million a year ago. This reflected the timing of grant funded projects, it said.
The company’s full-year guidance remains unchanged.
Ilika aims to release its half-year results on January 21.
The company highlighted that its Goliath programme made ‘strong progress’ during the financial-half year, with increased activity with customers and the start of commercial customer-sponsored validation.
Goliath batteries are large format solid state batteries designed for electric vehicles and consumer appliances, Ilika explained.
On October 3, Ilika said it completed testing of its Goliath D5 prototypes, noting that safety characteristics are confirmed to be superior to lithium-ion equivalents.
Chief Executive Officer Graeme Purdy said back then: ‘While our test programme will continue throughout our journey to a minimum viable product, we’re delighted with this positive outcome. The validity of the results is enhanced by the independent execution of the tests carried out by University College London and the University of Oxford under the Faraday Institution’s Safebatt Industrial Sprint programme and by DEKRA.’
Ilika shares rose 1.7% to 15.00 pence each on Friday morning in London.
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