Ilika PLC has launched ORKA, a new brand for its larger solid-state battery platform, Goliath, designed for underwater applications like autonomous underwater vehicles (AUVs). Broker Cavendish rates Ilika as a 'buy' with a target price of 118p, implying a 424% upside from the current 22.5p share price. The ORKA batteries are pressure-tolerant, operate at depths up to 6,000 meters, and avoid heavy metal pressure vessels, making them ideal for marine use. Cavendish highlights growing interest in Goliath from sectors like e-bikes and defense, with recent positive feedback from UK defense testing and a new defense adviser appointment. The broker expects Ilika's revenue to rise to £2.0 million in 2027, with an adjusted loss of £6.9 million, while the company holds £5.3 million in net cash and a market value of £44.8 million.
Ilika PLC's new ORKA brand for underwater batteries is the story subject, with Cavendish assigning a 118p target price implying a 424% upside. For readers following the Technology sector, here is Pluang's market snapshot as of Oct 22, 2026 17:02 WIB: out of 150 priced US tech stocks, 19 rose and 129 fell. Notable movers include AEHR at USD 59.87 with 0% Sell / 100% Buy order activity, MSTR at USD 145.02 with 79% Sell / 21% Buy, and NTES at USD 116.31 with 88% Sell / 12% Buy. Typical hold times range from 16 to 113 days.
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