SMALL CAP MOVERS: Ilika scores Goliath milestone with EV battery tech
Ilika secured another key milestone in the development of its Goliath solid-state electric vehicle battery technology this week.
The AIM-listed company successfully tested Goliath’s 10Ah cells to industry standards, marking the next stage in its development roadmap.
As well as EVs, Ilika’s tech is designed to meet the specific demands of applications in medtech, industrial IoT and consumer electronics.
Ilika is now preparing for its next development phase, aiming to finalise a D7 design by early 2025.
This will lead to the release of upgraded prototype cells, providing automotive manufacturers with further proof of the technology’s capabilities.
The group’s progress has turned City analysts’ heads recently. Earlier this month, broker Panmure Liberum drew parallels to US mid-cap QuantumScape.
The key difference being valuation. QuantumScape is valued at £2 billion, while Ilika, following this week’s 40 per cent rally, has a current market capitalisation of £35 million.
The Goliath solid-state electric vehicle battery marks the next stage in Ilika’s development roadmap
Panmure said the disparity was ‘anomalous’ adding that the current price offers an ‘attractive entry point’ for investors new to the story.
The voltage wasn’t as high for the AIM All-Share Index this week, although it trended in the green for the most part.
Come Friday, the junior index was up around 0.3 per cent to 729, while the FTSE 100 blue-chip index soared more than 140 points to clock a 1.7 per cent gain.
Stocks of all stripes were particularly well bid on Friday, offsetting mid-week losses after the UK inflation print for October slightly overshot expectations.
Nexxen International put in a good showing following a raft of positive catalysts for the advertising technology group.
Last week, Nexxen reported healthy third-quarter numbers and said its AI expertise was giving it a competitive edge in its space.
It followed up with the announcement of a $50 million share repurchase programme this week. Shares rallied over 31 per cent in response.
Made Tech Group added 23 per cent after the digital services provider reported robust trading ahead of expectations.
At its annual meeting, chair Joanne Lake announced that sales bookings for the current financial year reached £37.5 million, already surpassing the £36.0 million recorded for the entirety of the previous year.
ValiRx shares rose 22 per cent following news of a successful customer shipment from its subsidiary, Inaphaea BioLabs Limited. The delivery is of patient-derived cells (PDCs), part of its new Assay Ready Reagents (ARR) range.
More good news followed on Friday when ValiRx announced a collaborative research initiative involving its wholly owned subsidiary, Inaphaea BioLabs, and The Open University.
Tavistock Investments bounced 10 per cent higher after the group announced its intention to acquire Alpha Beta Partners (ABP), an asset-management firm based in London and Bath with close to £3 billion in assets under management.
The acquisition marks the latest step in Tavistock’s plan to enhance its presence in the UK retail investment market.
Tavistock will make an initial payment of £6 million, with the total acquisition cost potentially reaching £18 million depending on ABP’s financial performance over the next five years.
Shares in Webis Holdings collapsed in value after the betting firm announced plans to delist from the AIM market.
Managing Director of Webis Ed Comins stated: ‘Following an in-depth review, the board has unanimously agreed that it is in the best interests of the company and its Shareholders to delist from AIM.’
Shares crumbled 85 per cent.
Proton Motor Power Systems saw its share price plummet by 70 per cent after announcing it would wind down operations due to failed financing talks.
The company, which designs and produces zero-carbon fuel cells, revealed that discussions with a potential German industrial partner had collapsed, leaving no viable path to secure funding.
Celadon Pharmaceuticals tanked 55 per cent as the company disclosed doubts about its financial position due to delayed funding.
Celadon reported it had £300,000 in cash as of 15 November, sufficient to cover operations through to January.
Nostra Terra Oil and Gas fell off 36 per cent in a technical markdown after the minnow bolstered its coffers in preparation to lift production at the Pine Mills site in Texas.
The new funds will support the next phase which will focus on four additional wells, aiming for further production growth and enhanced cash flow.
DIY INVESTING PLATFORMS
AJ Bell
AJ Bell
Easy investing and ready-made portfolios
Hargreaves Lansdown
Hargreaves Lansdown
Free fund dealing and investment ideas
interactive investor
interactive investor
Flat-fee investing from £4.99 per month
Saxo
Saxo
Get £200 back in trading fees
Trading 212
Trading 212
Free dealing and no account fee
Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.
Some links in this article may be affiliate links. If you click on them we may earn a small commission. That helps us fund This Is Money, and keep it free to use. We do not write articles to promote products. We do not allow any commercial relationship to affect our editorial independence.
Discover more from Сегодня.Today
Subscribe to get the latest posts sent to your email.
