Enovix Reaches Development Agreement with a Leading Smartphone OEM
01 Mai 2024 - 10:01PM
Enovix Corporation (“Enovix”) (Nasdaq: ENVX), a global
high-performance battery company, today announced it has reached a
development agreement with one of the top five smartphone OEMs in
the world by unit volume.
“We are thrilled to announce we have advanced our engagement
further with one of our top customers by reaching a formal
development agreement, underscoring the value and competitive
advantage our silicon batteries can provide to the next generation
of smartphones, beginning with EX-1M,” said Dr. Raj Talluri,
President and CEO, Enovix. “Smartphone battery requirements are
incredibly rigorous and set the standard for consumer electronics
more broadly. Our goal is to provide our customers with a
leading-edge battery that will enable demanding AI applications
without compromising battery life.”
Enovix has begun manufacturing its EX-1M battery cells based on
smartphone customer specifications and is on track to deliver first
samples in the second quarter of 2024. High volume production will
take place at the company’s Fab2 facility in Penang, Malaysia.
About Enovix Enovix is on a mission to deliver
high-performance batteries that unlock the full potential of
technology products. Everything from IoT, mobile, and computing
devices, to the vehicle you drive, needs a better battery. Enovix
partners with OEMs worldwide to usher in a new era of user
experiences. Our innovative, materials-agnostic approach to
building a higher performing battery without compromising safety
keeps us flexible and on the cutting-edge of battery technology
innovation.
Enovix is headquartered in Silicon Valley with facilities in
India, Korea and Malaysia. For more information visit
www.enovix.com and follow us on LinkedIn.
Forward Looking Statements This press release
contains forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended, about us and our
industry that involve substantial risks and uncertainties.
Forward-looking statements generally relate to future events or our
future financial or operating performance. In some cases, you can
identify forward-looking statements because they contain words such
as “believe”, “will”, “may”, “estimate”, “continue”, “anticipate”,
“intend”, “should”, “plan”, “expect”, “predict”, “could”,
“potentially", “target”, “project”, “believe”, “continue” or the
negative of these terms or similar expressions. Forward-looking
statements in this press release include, but are not limited to,
statements regarding the Enovix’s design win, ability of Enovix to
sell Enovix products to mobile phone OEM customers, support of the
company’s growth and scale up, and beginning production in 2024 and
mass volume production of mobile phone products in 2025. Actual
results could differ materially from these forward-looking
statements as a result of certain risks and uncertainties. For
additional information on these risks and uncertainties and other
potential factors that could affect our business and financial
results or cause actual results to differ from the results
predicted, please refer to our filings with the Securities and
Exchange Commission (the “SEC”), including in the “Risk Factors”
and “Management’s Discussion and Analysis of Financial Condition
and Results of Operations” sections of our most recently filed
annual periodic reports on Form 10-K and quarterly report on Form
10-Q and other documents that we have filed, or that we will file,
with the SEC. Any forward-looking statements made by us in this
press release speak only as of the date on which they are made and
subsequent events may cause these expectations to change. We
disclaim any obligations to update or alter these forward-looking
statements in the future, whether as a result of new information,
future events or otherwise, except as required by law.
For media inquiries, please contact:
Enovix CorporationKristin AtkinsPhone: +1 (650) 815-6934Email:
katkins@enovix.com
For investor inquiries, please contact:
Enovix CorporationCharles AndersonPhone: +1 (612) 229-9729Email:
canderson@enovix.com
The Blueshirt GroupGary Dvorchak, CFAPhone: (323) 240-5796Email:
gary@blueshirtgroup.com
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