SMALL CAP MOVERS: Ilika scores Goliath milestone with EV battery technology

Ilika achieved another major milestone this week in the development of its Goliath solid-state battery technology for electric vehicles.

The AIM-listed company has successfully tested Goliath’s 10Ah cells to industry standards, marking the next stage in its development journey.

In addition to EVs, Ilika’s technology is designed to meet the specific demands of medical technology, industrial IoT and consumer electronics applications.

Ilika is now preparing for the next phase of development, with the aim of completing a D7 design in early 2025.

This will lead to the introduction of improved prototype cells, providing car manufacturers with further proof of the technology’s capabilities.

The group’s progress has had City analysts’ heads turning of late. Earlier this month, broker Panmure Liberum drew parallels with the American midcap QuantumScape.

The main difference is the rating. QuantumScape is valued at £2 billion, while Ilika, after this week’s 40 percent rally, has a current market capitalization of £35 million.

Panmure said the disparity was “abnormal” and added that the current price offers an “attractive entry point” for investors new to the story.

Excitement wasn’t as high for the AIM All-Share Index this week, although it was largely green.

Coming Friday, the junior index rose about 0.3 percent to 729, while the FTSE 100 blue chip index rose more than 140 points to post a 1.7 percent gain.

There were particularly good stocks of all sizes on Friday, offsetting mid-week losses after UK inflation for October slightly exceeded expectations.

Nexxen International posted a strong performance following a series of positive catalysts for the ad tech group.

Last week, Nexxen reported healthy third-quarter numbers and said its AI expertise gave the company a competitive advantage in its field.

It followed the announcement of a $50 million share buyback program this week. Shares rose more than 31 percent in response.

Created Tech Group added 23 percent after the digital services provider reported robust trading above expectations.

At the annual meeting, chairman Joanne Lake announced that sales bookings for the current financial year reached £37.5 million, already exceeding the £36.0 million recorded for the entire previous year.

ValiRx shares rose 22 percent on news of a successful customer shipment from its subsidiary Inaphaea BioLabs Limited. The delivery concerns patient-derived cells (PDCs), part of the new Assay Ready Reagents (ARR) range.

More good news followed Friday when ValiRx announced a joint research initiative involving its wholly owned subsidiary, Inaphaea BioLabs, and The Open University.

Tavistock Investments rose 10 percent after the group announced its intention to acquire Alpha Beta Partners (ABP), an asset management company based in London and Bath with almost £3 billion in assets under management.

The acquisition marks the latest step in Tavistock’s plan to grow 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 fell in value after the gambling company announced plans to exit the AIM market.

Managing Director of Webis Ed Comins said: ‘After an in-depth review, the board of directors unanimously agrees that it is in the best interests of the company and its shareholders to delist AIM.’

Shares fell 85 percent.

Proton motor propulsion systems saw its share price drop 70 percent after announcing it would shut down operations due to failed financing talks.

The company, which designs and produces carbon-free fuel cells, revealed that talks with a potential German industrial partner had collapsed, leaving no viable route to securing financing.

Celadon drugs fell by 55 percent as the company expressed doubts about its financial position due to delayed financing.

Celadon reported that it had £300,000 in cash as of November 15, enough to cover operations through January.

Nostra Terra oil and gas fell 36 percent due to a technical price cut after the minnow strengthened its coffers in preparation for ramping up 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 improved cash flow.