Ilika raises £4.56M to push solid-state batteries toward market
What's the deal? IlikaDealroom has a profile for this one. Try Dealroom →, the AIM-listed solid-state battery developer, has raised roughly £4.56 million through an oversubscribed placing and director subscription priced at 28p per share. The company plans a further retail offer of up to £0.5 million.
What's the endgame? Ilika will use the proceeds to support the commercial launch of its Stereax micro-batteries, advance its large-format Goliath technology toward licensable products, and buy equipment for its first Goliath product. It targets medical implants, EVs, and defence applications through licensing deals with OEMs and manufacturing partners.
Why now? Solid-state battery developers are under pressure to move from lab results to commercial products as EV and grid-storage demand rises and investors scrutinise cash burn. Chief executive officer Graeme Purdy and chairman Keith Jackson both participated in the raise, signalling confidence.
By the numbers: Admission of the new shares to AIM is expected around July 9, 2026, taking total shares in issue to just under 199 million. The fresh equity marks a step-up against Ilika's previous round.
What could go wrong? Ilika's financials remain weak, with declining revenue, ongoing losses, and negative cash flow. Its current market cap sits at £52.44 million, and licensing timing remains uncertain.
The signal: Cleantech funding has grown more selective as rates stay higher, favouring companies that can show near-term revenue or industrial partnerships. For Ilika, the raise is mainly a runway extension in a field dominated by better-capitalised global players such as QuantumScape and Solid Power — useful for execution, but not enough to shift the competitive balance on its own.
Read more: Investegate
