SMALL LAYER MOVERS: Ilika achieves Goliath milestone with electric vehicle battery technology

Ilika This week it achieved another key milestone in the development of its Goliath electric vehicle solid-state battery technology.

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

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

Ilika is now preparing for its next phase of development, aiming to finalize a D7 design by early 2025.

This will lead to the launch of improved prototype cells, providing automakers with further proof of the technology’s capabilities.

The group’s progress has caught the attention of City analysts lately. Earlier this month, broker Panmure Liberum drew parallels with US mid-cap QuantumScape.

The key difference is the valuation. QuantumScape is valued at £2bn, while Ilika, following this week’s 40 per cent rally, has a current market capitalization of £35m.

Panmure said the disparity was “anomalous” and added 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 green for the most part.

On Friday, the junior index rose around 0.3 per cent to 729, while the blue-chip FTSE 100 index soared more than 140 points to record a 1.7 per cent gain.

Stocks of all types were particularly well bid on Friday, offsetting mid-week losses after UK inflation data for October was slightly ahead of expectations.

Nexxen International performed well following a series of positive catalysts for the ad tech group.

Last week, Nexxen reported healthy third-quarter numbers and said its expertise in artificial intelligence was giving it a competitive advantage in its space.

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

Technological group made added 23 percent after the digital services provider reported strong trading above expectations.

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

Valirx The shares rose 22 percent following news of a successful shipment to customers of its subsidiary, Inaphaea BioLabs Limited. The delivery is of patient-derived cells (PDCs), part of its new range of assay-ready reagents (ARR).

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 rebounded 10 per cent higher after the group announced its intention to acquire Alpha Beta Partners (ABP), a London and Bath-based asset management firm with around £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.

Actions in Webis Holdings Its value collapsed after the betting firm announced plans to withdraw from the AIM market.

Webis CEO Ed Comins said: “Following an in-depth review, the board of directors has unanimously agreed that it is in the best interests of the company and its shareholders to delist from AIM.”

Shares plummeted 85 percent.

Proton engine power systems saw its share price fall by 70 percent after announcing it would close operations due to failed financing talks.

The company, which designs and produces zero-carbon fuel cells, revealed that talks with a potential German industrial partner had failed, leaving no viable path forward to secure funding.

Celadon Pharmaceuticals plummeted 55 percent when the company revealed doubts about its financial situation due to delayed financing.

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

Nostra Terra Oil and Gas fell 36 percent in a technical downgrade after the minnow bolstered its coffers in preparation to increase production at the Pine Mills site in Texas.

The new funds will support the next phase, which will focus on four additional wells, with the goal of achieving further production growth and increased cash flow.