Enovix Announces General Availability of Its Standard IoT and Wearable Cell
July 18 2023 - 7:30AM
Enovix Corporation (“Enovix”) (Nasdaq: ENVX), an advanced silicon
battery company, today announced the general availability of its
standard-sized IoT and Wearable cell.
“We are pleased to announce for the
first time, the general availability of our standard IoT
and Wearable cell, which has a capacity advantage of up to
double compared to products on the market today,” said Dr. Raj
Talluri, President and CEO. “I believe custom cell
development is going to be one of our biggest revenue
drivers in 2024 and beyond, however, much like cylindrical and
coin cell standards, we’re meeting a market need for a
small, standard-sized pouch cell to serve the myriad
of applications in the IoT space, which is at the heart of
digital transformation.”
Enovix cells are uniquely architected using precise laser cut
electrodes that are stacked with accurate alignment, allowing for
volumetric and active material packing efficiencies, as well as
accommodating the use of a 100% active silicon anode. Silicon is a
plentiful and sustainable material that can store more than twice
as many lithium ions as graphite by volume (1800 mAh/cc1 versus 800
mAh/cc2), which is used in most conventional lithium-ion batteries
today. Due to its novel mechanical structure and silicon anode,
Enovix cells have exceptional energy density, capacity, thermal
performance and abuse tolerance.
“We believe Enovix batteries deliver competitive, high-quality
energy storage solutions, making it a good fit for the expanding
wearable and IoT markets,” said Wayne Tseng, Chairman of EDOM
Technology. “We look forward to working with Enovix and our
customers to drive long-term business growth.”
The standard Enovix IoT and Wearable
cell has 322 mAh of capacity, 1.17 Wh energy and can be cycled over
500 times to 80% capacity retention. Enovix has received multiple
safety certifications including UN38.3 and IEC-62133-2.
Enovix released its cell testing guide
here. For more details, please contact Enovix customer support:
customersupport@enovix.com and visit our website:
www.enovix.com.
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 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 include, but are not limited to, the
availability of products; the customer demand for products; and
Enovix’s ability to sell into the IOT and wearable markets.
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
For media inquiries, please contact:
Enovix CorporationKristin AtkinsPhone: +1 (650) 815-6934Email:
katkins@enovix.com
————————————————1 De-rated from theoretical capacity of 2194
mAh/cc for Li trapping losses.2 Nominal capacity between host
capacity of 841 mAh/cc and lithiated capacity of 719 mAh/cc.
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