Ilika Secures Stereax Electrode Order from Cirtec

21 January 2026

Ilika plc

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

Ilika Secures First Stereax Electrode Order from Cirtec

Strategic Partnership Advances to Revenue Generation Phase

Ilika (AIM: IKA), the UK pioneer in solid state battery technology, has secured its first revenue-generating purchase order from Cirtec Medical (Cirtec) for the supply of Stereax electrodes, marking the commercial transition of this strategic partnership. This milestone order for the critical conductive elements that enable battery functionality follows two years of development work and successful prototype delivery in December 2025.

The Stereax electrodes will support the ramp up of Stereax M300 production at Cirtec, targeting a wide range of applications across active implantable medical devices (AIMDs), including powering implanted sensors, neurostimulators, orthopaedic implants, orthodontic wearables and ophthalmology devices. This purchase represents Ilika's entry into the commercial phase of its medical device battery technology.

In August 2023, Ilika announced an agreement whereby the Company would retain specific battery manufacturing processes at its UK facility as a service to Cirtec. After successfully delivering early versions of Stereax M300 batteries in December 2025 (with primary manufacturing occurring at Cirtec's Massachusetts facility), this relationship has now progressed to commercial orders, with Cirtec purchasing production quantities of electrodes from Ilika. The Stereax M300 batteries are currently being evaluated by 21 customers for their applications.

Shawn Martin, Vice President at Cirtec Medical, said: "This marks an important transition from the earlier stages of technology transfer to commercial production coordinated from our facility here in the USA."

Graeme Purdy, CEO of Ilika, said: "The receipt of this first commercial electrode order validates the strong market momentum building behind our Stereax technology and demonstrates the successful execution of our production strategy. This revenue-generating phase of our partnership with Cirtec positions us to support their manufacturing scale-up while accelerating product integration across numerous high-value medical device applications."

The companies will showcase their partnership at upcoming industry events, with Ilika supporting Cirtec at the North America Neuromodulation Society (NANS) annual meeting in Las Vegas on January 23-24, 2026. Additionally, Cirtec will exhibit and represent Stereax technology at MD&M West in Anaheim on February 3-5, 2026, further highlighting the commercial readiness of this innovative battery solution.

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.