Ilika CEO Graeme Purdy joined Steve Darling from Proactive to deliver a trading update for the six months ended 31 October, outlining significant operational progress across the company’s Stereax and Goliath solid-state battery platforms.

The update comes ahead of Ilika’s full interim results, scheduled for release in January.
Purdy reported that the Stereax M300 micro-battery production line—now operated at Cirtec Medical’s facility in Massachusetts—has successfully completed process qualification, a major milestone that clears the path toward commercial output. With this achievement in place, Ilika is targeting initial deliveries to lead customers in Q4 2025, marking the first commercial rollout of the next-generation M300 product.

On the large-format battery side, Ilika confirmed that customer testing has validated its Goliath 2Ah P1 cells, demonstrating performance that aligns with expectations for early-stage prototypes. The company remains on track to ship 10Ah Goliath prototypes in December, with 50Ah prototypes to follow based on market demand.
Financially, Purdy noted that Ilika expects revenue of £0.6 million for the period, largely reflecting activity associated with the DRIVE35 automotive programme. The company anticipates an EBITDA loss of £3.2 million, which Purdy attributed to increased development expenses and prototype manufacturing costs as Ilika accelerates its transition toward commercialisation.

Overall, the company said it remains encouraged by customer engagement and the ongoing validation of its solid-state battery technologies, positioning Ilika for meaningful technical and commercial milestones in 2026 and beyond.


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