Oslo, 5 July 2021
Ensurge Micropower ASA (OSE: ENSU, OTCQB: ENMPY) today announced the signing of its first customer agreement with a global leader in the hearables market. Under the agreement, Ensurge will deliver customized solid-state microbatteries based on the Ensurge Microbattery Product Platform (MPP). This agreement, addressing the medical hearables market, follows the company's previous announcement of a customer agreement with a Fortune Global 500 company addressing the broader wearables market.
Products delivered under this agreement leverage the inherent customizability of the Ensurge MPP and are tailored to meet unique form factor requirements that cannot be addressed by legacy coin or button cell alternatives. Furthermore, because MPP-based products are designed to be attached to circuit boards with surface mount technology (SMT)-like processes, customers will be able to more reliably and efficiently integrate Ensurge microbatteries into their systems. The MPP-based products will also showcase the best-in-class volumetric energy density, cycling performance, and safety that are fundamental to the Ensurge Microbattery Product Platform.
"We are very excited to announce our initial customer agreement with a top-tier manufacturer in the hearables market," said CEO Kevin Barber. "We have now announced customer agreements in our two initial targeted markets, hearables and wearables, and we are encouraged by ongoing technical and commercial discussions with additional prospects in our target markets. As we approach planned sampling in the second half of 2021 and subsequent roll-based production, I am excited about our combination of technical and go-to-market progress."
Ensurge is Energizing Innovation™ with ultrathin, flexible, and safe energy storage solutions for wearable devices, connected sensors, and beyond. Ensurge's innovative solid-state lithium battery (SSLB) technology is uniquely positioned to enable the production of powerful, lightweight, and cost-effective rechargeable batteries for diverse applications. The company's state-of-the-art flexible electronics manufacturing facility, located in the heart of Silicon Valley, combines patented process technology and materials innovation with the scale of roll-to-roll production methods to bring the advantages of SSLB technology to established and expanding markets. Ensurge Micropower ASA ("Ensurge") is a publicly listed company in Norway with corporate headquarters in Oslo and global headquarters in San Jose, California.
Ståle Bjørnstad - Investor Relations
Phone: +47 99 16 76 72
Kevin Barber - Chief Executive Officer
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.