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Enovix announces the delivery of batteries | Your money

FREMONT, Calif., July 12. 10, 2022 (GLOBE NEWSWIRE) — Enovix Corporation (“Enovix”) (Nasdaq: ENVX), the leader in the design and manufacture of next-generation 3D Silicon™ lithium-ion batteries, today announced shipment of battery packs- batteries, which include multiple high-energy, 100% active silicon anode cells and power control electronics. The batteries provide increased power to devices that require more power than a battery cell can deliver on a single charge, extending the commercial applications of Enovix batteries to more power and power-hungry consumer devices.

“Many consumer electronics customers are looking for complete battery solutions to power devices with higher energy density requirements,” said Cam Dales, Managing Director and Chief Commercial Officer of Enovix. “Providing next-generation optimized packs brings additional value to our customers, allowing us to bring our breakthrough battery to a wider customer base and wider range of devices.”

In early 2022, Enovix announced an order from a major consumer electronics company for its single-cell level high energy density smartwatch battery. This high energy Enovix multi-cell battery pack shipping announcement builds on this key commercialization milestone, expanding Enovix’s battery application from the individual cell to the pack level.

“Building batteries is a critical part of our go-to-market strategy as we continue to achieve significant milestones on our path to mass commercialization,” Dales added. “We are excited to bring our high energy density batteries into this new phase, delivering a complete power solution that takes full advantage of our technology, bringing even more power to consumer applications around the world.”

In addition to offering batteries, Enovix has also expanded its manufacturing partnerships to meet the demands of the global consumer electronics market. Enovix has established relationships with several major international battery pack companies with manufacturing operations around the world, enabling Enovix to bring its cell and pack design expertise to manufacturers in an outsourced model. This product capability is particularly important for customers with limited battery expertise, where the extensive manufacturing and technical expertise of these partnerships can further accelerate the deployment of Enovix’s battery technology.

About Enovix Enovix is ​​the leading developer and manufacturer of advanced silicon anode lithium-ion batteries. The company’s proprietary 3D cell architecture increases energy density and maintains high cycle life. Enovix is ​​building an advanced silicon anode lithium-ion battery production facility in the United States for volume production. The company’s initial goal is to provide designers of leading-in-class mobile devices with a high-energy battery so they can create more innovative and efficient wearable products. Enovix is ​​also developing its 3D cell technology and production process for the electric vehicle and energy storage markets to enable widespread use of renewable energy. For more information, visit www.enovix.com.

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 form of these terms or similar expressions. press release include, but are not limited to, expanding commercial applications of Enovix batteries to more power and power-hungry consumer devices, providing next-generation optimized packs that bring additional value to our customers, offering our battery to a wider customer base and a wider range of devices, and offering a complete power solution that takes full advantage of our technology. Actual results could differ materially from these forward-looking statements due to certain risks and uncertainties, including, without limitation, the risks set forth under “Risk Factors” in Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on March 25, 2022 and in Form 10-Q we filed with the SEC on May 18, 2022, and other documents we have filed, or will file with of the SEC. Any forward-looking statements made by us in this press release speak only as of the date they are made and subsequent events may cause these expectations to change. We disclaim any obligation to update or change these forward-looking statements in the future, whether as a result of new information, future events or otherwise, except as required by law.

For investor inquiries, please contact:

Enovix Corporation Charles Anderson Phone: +1 (612) 229-9729 Email: [email protected]

The Blueshirt Group Gary Dvorchak, CFA Phone: (323) 240-5796 Email: [email protected]

For media inquiries, please contact:

Enovix Corporation Kristin Atkins Phone: +1 (650) 815-6934 Email: [email protected]

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