Enovix Expands Asia Presence with Additional Go-to-Market Partners in Japan and South Korea
June 06 2023 - 7:30AM
Enovix Corporation (“Enovix”) (Nasdaq: ENVX), an advanced silicon
battery company, today announced agreements with Japanese
distribution and manufacturing services company, Elematec
Corporation (“Elematec”), and South Korean power management and
IoT-focused distributor, Semicomtech, to support pan-Asian
shipping, distribution and market expansion.
Elematec is an integrated services company that provides sales,
technology, development and production support for end users. The
company is focused on the Japanese market and delivers electronics
parts and finished products globally. Their capabilities exceed the
standard distributor by offering full pack-to-Original Design
Manufacturer (“ODM”) product solutions. Elematec is incorporating
Enovix batteries into several solutions for their customers.
Semicomtech is a global provider of mostly power-based
semiconductor devices that are focused on consumer- and IoT-based
customers in South Korea. Semicomtech’s offerings are highly
complementary to the batteries and packs that Enovix provides for
these applications.
“These strategic distributor agreements enable us to expand
quickly and leverage their experience and customer relationships in
key markets,” said Ralph Schmitt, chief commercial officer at
Enovix. “Elematec and Semicomtech will act as an extension of our
team, so we can sell more of our next-generation batteries across
Asia.”
Enovix has been building its presence in Asia through direct
hires and distributor agreements. The additions of Elematec and
Semicomtech further validate the company’s readiness to expand and
support the demand in the global consumer electronics market.
About EnovixEnovix is on a mission to power the
technologies of the future. Everything from IoT, mobile and
computing devices, to the vehicle you drive, needs a better
battery. The company’s disruptive architecture enables a battery
with high energy density and capacity without compromising safety.
Enovix is scaling its silicon-anode, lithium-ion battery
manufacturing capabilities to meet customer demand. For more
information visit www.enovix.com and follow us on LinkedIn.
Forward Looking StatementsThis 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 include, but are not limited to,
statements with respect to sales through distributors in Asia; the
ability to grow revenue based on the addition of distributors;
sales potential of adding additional distributors. Forward-looking
statements are predictions, projections, expectations and other
statements about future events that are based on current
expectations and assumptions and, as a result, are subject to
significant risks and uncertainties. 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 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
For media inquiries, please contact:
Enovix CorporationKristin AtkinsPhone: +1 (650) 815-6934Email:
katkins@enovix.com
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