Ilika begins UK Stereax production, wins first Cirtec order, retains 48p target
Ilika cleared customer qualification for its Stereax platform and will begin manufacturing at its UK facility, while Cavendish Securities retained its 48p target price. The company booked its first commercial order from Cirtec Medical, expects follow-on Stereax battery orders this year and shipped a 10Ah Goliath prototype for customer evaluation.
1. Ilika Clears Key Commercial Hurdle and Enters Execution Phase
Ilika has successfully completed customer qualification for its Stereax solid-state battery platform, a critical step that unlocks full-scale manufacturing at its R&D and pilot production facility in South Wales. This achievement follows a rigorous testing regime with leading electronics OEMs and positions the group to commence serial production later this quarter. Cavendish Securities highlighted the milestone as evidence of ongoing operational momentum and reiterated confidence in Ilika’s long-term growth trajectory.
2. Follow-On Orders Expected as Production Milestones Hit
Having met a series of production and delivery targets in H2 2025, Ilika is forecasting its first wave of repeat orders for its miniature Stereax cells before year-end. The company also dispatched a 10 amp-hour Goliath prototype for evaluation by major automotive and appliance manufacturers, marking its most advanced solid-state design to date. Management aims to accelerate scale-up of Goliath towards a commercial-ready format, with pilot line commissioning planned in mid-2026.
3. First Commercial Supply Agreement Seals Transition to Production
Ilika confirmed its maiden commercial contract with US medical device partner Cirtec Medical for the supply of electrode components used in Stereax cells. This order caps two years of joint development work and signifies Ilika’s shift from R&D into revenue-generating manufacturing. The news underpinned a 77% uplift in the company’s share value over the past 12 months, reflecting growing investor confidence in its solid-state roadmap.