Ilika's broadening commercial pipeline supports broker's conviction in solid-state battery play

Ilika PLC (AIM:IKA, OTCQX:ILIKF, FRA:I8A), the solid-state battery developer, has delivered a trading update broadly in line with its broker's expectations while demonstrating meaningful progress on the commercialisation of both its miniature Stereax and larger-format Goliath battery platforms. Cavendish, which has a 'buy' rating with a 130p target price, implying 300% upside from the current 32.5p, said the update confirmed the breadth of Ilika's commercial development pipeline is expanding, with evaluation agreements now in place with 27 companies across the automotive, defence and consumer sectors.