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Thin Film Electronics ASA - Financial Report - First Quarter 2021

Thin Film Electronics ASA
·1-min read

Oslo, 26 May 2021

Thin Film Electronics ASA ("Thinfilm" or the "Company") today released its interim report for the first quarter of 2021 and the condensed consolidated financial statements as of 31 March 2021 for the Thin Film Electronics ASA group.

Report highlights include:

Recent achievements
- Reached commercial agreement with Fortune Global 500 company in wearables market to provide SSLB devices for evaluation in 2H 2021
- Engaging in commercial agreement discussions with leading OEMs in target markets
- Operational readiness validated for complete toolset required for roll-based production
- Confirmed key performance parameters of initial MPP-based prototype cells
- Innovative cell-stacking developments continue, key equipment expected to arrive in Q3
- Customer sampling on track for Q4

Thinfilm is Energizing Innovation™ with ultrathin, flexible, and safe energy storage solutions for wearable devices, connected sensors, and beyond. Thinfilm'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. Thin Film Electronics ASA is a publicly listed company in Norway with corporate headquarters in Oslo and global headquarters in San Jose, California.

Contact:
Ståle Bjørnstad - Investor Relations
E-mail: stale.bjornstad@thinfilmsystems.com
Phone: +47 99 16 76 72

Kevin Barber - Chief Executive Officer
E-mail: kevin.barber@thinfilmsystems.com

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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