18 December 2025

Ilika plc

('Ilika,' the 'Company,' or the 'Group')

Ilika Announces Initial Stereax M300 Shipments

Commencement of Shipping Marks Important Commercial Milestone

Ilika (AIM: IKA), the UK pioneer in solid state battery technology, announces it has commenced shipping prototype Stereax M300s to customers, meeting an important commercial milestone.

These initial deliveries will be allocated to the 21 customers which form Ilika's existing order book, many of whom have previously received Stereax batteries for evaluation from the Company's UK pilot line. A number of batteries from the initial batches will be allocated to the extensive M300 testing programme, which is designed to generate a larger body of test data relevant to exciting applications in active implantable medical devices (AIMDs). Applications include powering implanted sensors, neurostimulators, orthopaedic implants, orthodontic wearables and ophthalmology devices. With its small footprint and enhanced charging capabilities, Stereax is ideally suited to meet the needs of AIMDs, offering benefits that include: reduced surgery time, the ability to place the implant closer to the point of therapy, long-lasting performance, user recharging at home and the ability to power Bluetooth radio. Ilika and its strategic partner, Cirtec Medical Corp, will solicit feedback from this core customer group to verify customer experience before ramping production.

This milestone progresses the 10-year manufacturing agreement signed in August 2023, in which Cirtec Medical, a leading US medical device manufacturer, will produce Ilika's Stereax battery portfolio.

Daniel Weinstein, Co-Founder and Chief Executive Officer at Lura Health, a provider of non-invasive health management solutions using continuous salivary monitoring, said: "As one of the first customers to receive M300 prototypes, we are excited to be working with Ilika and Cirtec Medical to demonstrate the deployment of Stereax miniature batteries in our range of non-invasive microsensors for salivary health markers."

Shawn Martin, Vice President at Cirtec Medical, said: "The Stereax product is an excellent addition to our world-leading capabilities in advanced miniaturised electronics designed for life-changing medical devices."

Graeme Purdy, CEO of Ilika, said: "After successfully transferring Stereax technology to Cirtec Medical's world-class manufacturing facility in Lowell, Massachusetts, we are looking forward to intensifying our customer engagement and servicing their needs for implantable power management devices. The applications form a market of over $40bn with high single digit CAGR, with the miniature battery component alone worth over $250m."

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 which is part of UK law by virtue of the European Union (withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

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About Ilika plc

Ilika is a global expert in the development of solid-state battery technology for electric vehicles, medical devices and consumer appliances. The Company's pioneering next-generation technologies aim to provide scalable, affordable alternatives to conventional batteries, to industries which need to incorporate a smaller, lighter, and safer power source in their products.

The Company has two product lines. Its Stereax batteries are designed for powering miniature medical implants, industrial wireless sensors and Internet of Things (IoT) applications and the Goliath large format batteries are designed for EV cars and cordless appliances.

Through its licensing business model, Ilika supplies its IP portfolio to both OEMs and manufacturing partners in exchange for a license fee and future royalties.

About Cirtec Medical‍

Cirtec Medical is a global leader in design, development, and manufacturing of complex Class II and III medical devices, specializing inactive implant systems, interventional devices, precision components, and thin film and microelectronics. Since 1987, Cirtec Medical has built extensive in-house capabilities that enable the company to serve as a single-source partner and collaborate with customers to transform their technology into innovative medical devices across a wide array of therapies, including cardiology, neurology, orthopedics and other minimally invasive device applications. Cirtec Medical's deep expertise in precision component design and manufacturing supports every stage of the product lifecycle, ensuring uncompromising quality and performance. With 11 global facilities and a vertically integrated approach, Cirtec Medical aims to expedite time to market, reduce risk, and accelerate revenue generation for our partners. Learn more at CirtecMed.com.