Company Announcements

Ilika plc

("Ilika", the "Group", or the "Company")

Further Goliath Technical Milestone Achieved

D5 testing complete; safety characteristics confirmed to be superior to lithium-ion equivalents

Ilika (AIM: IKA), an independent global expert in solid-state battery technology, announces it has completed testing of its Goliath D5 prototypes, thereby further confirming the safety characteristics of Ilika's batteries.

The testing reconfirmed the benefits of Goliath relative to lithium-ion equivalent across a number of key variables - reinforcing the fact that Ilika's cells have the potential to provide electric vehicles (EV) with lighter, safer, cheaper batteries with longer ranges and faster charging capabilities.

Further to the RNS Reach  dated 05 September 2024 https://tinyurl.com/xeydwhkp, the completion of the testing of the D5 prototypes is a key milestone, with the Company focused on delivering on its minimum viable product (MVP) roadmap, which will underpin licensing opportunities.

The D5 prototype is designed to build on the characteristics of the D4 data point achieved in 2023. This was achieved by optimising the cell architecture to increase Goliath's unique safety value proposition without compromising cell energy density.  The key findings from the testing programme provide further validation along the development curve to D8 and MVP samples during calendar year 2025:

·    Exceptional results from the nail penetration test carried out by University College London as part of the Faraday Institution funded Safebatt Industrial Sprint programme.

o  The results classify puncturing the D5 prototypes as a EUCAR 3 hazard event, with no leakage, no venting, no fire or flame, no rupture and no explosion. In contrast, puncturing the benchmark lithium-ion battery resulted in a higher EUCAR 6 event, i.e. a rupture accompanied by flying parts of the active mass, fire and flame.

·    Components confirmed to be non-flammable by DEKRA, the world's largest independent, non-listed expert organisation in testing, certification and inspection.

·    Temperatures during failure approximately 300°C lower than comparable Li-ion cells shown in Accelerated Rate Calorimetry testing carried out as part the Industrial Sprint, by the University of Oxford.

·    Improved capacity at higher discharge rates.

o  D5 prototypes can be discharged at twice the rate of P1 prototypes without impacting their capacity.

Improved safety performance of Goliath batteries relative to conventional lithium ion means that EV designers can reduce the mechanical protection and reinforcement that would otherwise be required to protect the battery pack. In turn, this enables lighter and less expensive EV designs that have a longer range for the same amount of energy. The D5 data point makes this improved safety performance clear.

Ilika's CEO, Graeme Purdy, stated: "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.

"Meeting our D5 milestone pushes our technology further along the curve towards D6, which is a data point for larger area 10Ah batteries, the results of which we expect to announce in November 2024."

The Faraday Institution's CEO, Professor Martin Freer, stated:

"We congratulate Ilika on achieving this milestone on their roadmap to a minimum viable product. The collaboration is a terrific example of the transfer of knowhow from the Faraday Institution community - in this case at UCL and the University of Oxford on the science of battery safety - to deliver impact for a UK battery SME via the Industry Sprint programme."

About Ilika plc - https://www.ilika.com

Ilika specialises in the developing and commercialisation of solid-state batteries. The Company's mission is to rapidly develop leading-edge IP, manufacture and license solid state batteries for markets that cannot be addressed with conventional batteries due to their safety, charge rates, energy density and life limits. The Company achieves this by using ceramic-based lithium-ion technology that is inherently safe in manufacture and usage, higher thermal tolerance and easier to recycle which differentiates our products from existing batteries.

The Company has two product lines. Its Stereax batteries which are designed for powering miniature medical implants, industrial wireless sensors and specialist internet of Things (IoT) applications and the Goliath large format batteries designed for EV cars and cordless appliances.

About SafeBatt: https://www.safebatt.ac.uk

The Faraday Institution's SafeBatt project is a collaboration, led by the University of Oxford, of seven universities (Oxford, University College London, King's College London, Newcastle, Sheffield, Warwick and Cambridge) as well as industrial partners, each bringing unique capabilities to the investigation of the science of battery safety.