Ilika Targets £3.5M Funding to Scale Solid-State Battery Efforts

May 2025 – Ilika PLC (AIM: IKA), a UK-based innovator in solid-state battery technology, has announced plans to raise up to £3.5 million through a combination of share placing, retail offer, and director subscriptions. The funding will be directed towards scaling its Stereax miniature batteries and Goliath large-format battery program, both key components in its strategy to commercialize next-generation energy storage solutions.

The company confirmed that £3 million will be raised via a placing of new shares at 33 pence each, reflecting a 2.9% discount to the market closing price on May 20. Additionally, a retail offer will allow existing UK shareholders to subscribe for up to 1.5 million new shares via the Bookbuild platform.

According to NextGen Intelligence Stats, solid-state batteries are expected to be a game-changer for industries seeking safer, longer-lasting, and more energy-dense alternatives to conventional lithium-ion batteries. The market is projected to grow rapidly as electric vehicles, wearables, and industrial systems increasingly adopt solid-state solutions.

Ilika intends to allocate £1.1 million toward its Stereax program, focusing on technology transfer to manufacturing partner Cirtec, testing, and customer support. The remaining £2.4 million will be invested in advancing its Goliath project, including prototype development, equipment acquisition, and deepening engagement with commercial partners.

This funding initiative underlines Ilika’s roadmap to bring Stereax to market while positioning Goliath for strategic licensing and commercial collaboration in the future. The company emphasized that the share sale is not conditional on shareholder approval and is being managed by Cavendish Capital Markets via an accelerated bookbuild process.

With solid-state batteries at the center of the energy storage revolution, Ilika’s latest capital raise marks a significant step toward securing its position in this high-growth market.

Explore more about the solid-state battery market here:
👉 Solid-State Battery Market – NextGen Intelligence Stats