Battery technology developer Ilika (LON: IKA) is raising up to £3.4m at 28p/share to spend on the Goliath solid-state battery. This cash should last at least 12 months.
Goliath is a solid state battery that is non-flammable and easier to recycle than rival battery technologies. There is also higher energy density and reduced cell degradation. The main focus is automotive.
A placing and subscription raised £1.7m and a one-for-26 open offer could raise up to £1.7m more. The open offer closes on 28 May.
There will be £750,000 earmarked for the development of the Goliath battery and this...
