Ilika showed commercial progress in Stereax and Goliath solid-state battery businesses - ICYMI

Ilika PLC ( AIM:IKA OTCQX:ILIKF ) this week outlined continued commercial progress across its Stereax and Goliath solid-state battery businesses, with chief executive Graeme Purdy highlighting the company's transition into revenue generation alongside several commercial catalysts expected over the next 12 to 18 months.

Purdy, in an interview in the Proactive studio, said the most significant development for the Stereax business had been its move into commercial production, with Ilika now supplying commercial-grade electrodes to Cirtec for incorporation into the M300 medical device product, which is expected to reach the market later this year.

He said the company had already recognised approximately £100,000 in revenue during the previous financial year, describing it as an early indicator of future growth.

Purdy added that a second revenue stream is expected to emerge through royalty payments once products incorporating Stereax batteries are sold to end customers.

Here, we take a closer look at what was said when Graeme Purdy joined the Proactive studio.

Proactive: You've described the past year as one of strong commercial progress. What do you see as the standout achievements across both the Stereax and Goliath programmes?

Graeme Purdy: The biggest achievement for Stereax is that the business has transitioned into generating product revenue by selling commercial-grade electrodes to Cirtec for incorporation into the M300 product, which is expected to launch later this year.

On Goliath, shipping 10Ah prototypes to OEM and commercial customers for validation represents a major commercial milestone that is creating new opportunities.

Proactive: Stereax has now moved into commercial production and is generating revenue. How significant is that milestone?

Graeme Purdy: It is highly significant because Ilika expects that reven...