Highlights

  • Ilika receives first revenue-generating Stereax electrode order from Cirtec Medical.
  • Order marks transition of Cirtec partnership from development to commercial supply phase.
  • Stereax M300 batteries are under evaluation by 21 medical device customers.

Ilika plc (LSE:IKA), a UK-based developer of solid state battery technology, announced that it has secured its first revenue-generating purchase order from Cirtec Medical for the supply of Stereax electrodes. The order follows approximately two years of joint development work and the successful delivery of prototype batteries in December 2025. This transaction represents Ilika’s entry into the commercial supply phase of its medical device battery technology.

The electrodes supplied under the order are critical conductive components required for battery functionality. Their delivery supports Cirtec’s planned ramp-up of Stereax M300 battery production at its facility in Massachusetts, United States.

Transition From Development to Commercial Supply
The partnership between Ilika and Cirtec was initially formalised in August 2023, when Ilika disclosed that it would retain certain battery manufacturing processes at its UK facility as a service to Cirtec. Under this arrangement, Cirtec assumed responsibility for primary manufacturing, while Ilika continued to supply specific components and expertise.

Following the delivery of early versions of the Stereax M300 batteries in December 2025, the relationship has now progressed to commercial orders. Cirtec has placed an order for production quantities of Stereax electrodes, marking a shift from prototype and qualification stages to routine commercial supply.

Medical Device Applications in Scope
The Stereax electrodes are intended for use in solid state batteries designed to power a range of active implantable medical devices (AIMDs). These include implanted sensors, neurostimulators, orthopaedic implants, orthodontic wearables, and ophthalmology-related devices. According to the announcement, the Stereax M300 batteries are currently being evaluated by 21 customers for integration into their respective medical applications.

Industry Engagement and Visibility
Ilika and Cirtec plan to jointly present their collaboration at upcoming industry events in North America. Ilika will support Cirtec at the North America Neuromodulation Society annual meeting in Las Vegas on 23–24 January 2026.

Share performance
Ilika shares rose 4.66% to GBX 38.20 in today’s trading session.