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Thin Film Electronics ASA - Financial Report - Fourth Quarter 2020

Thin Film Electronics ASA
·2-min read

Oslo, 24 February 2021

Thin Film Electronics ASA ("Thinfilm" or the "Company") today released its interim report for the fourth quarter of 2020 and the condensed consolidated financial statements as of 31 December 2020 for the Thin Film Electronics ASA group.

Report highlights include:

Recent achievements
- First product design taped out based on customer requirements
- Evaluation agreements signed
- Process enhancements identified to increase energy density up to 600 Wh/L
- Product platform established to support customer product customization
- Battery experts hired to support roll-to-roll factory bring up, production ramp, customer engagements

Key solid-state lithium battery (SSLB) product platform targets
- 2x volumetric energy density compared to common li-ion cells, leading to significantly smaller microbatteries
- 50% thinner than coin and button cells, enabling more comfortable wearables
- 3x charge/discharge cycling to extend end-product longevity and minimize customer warranty repair costs due to premature battery failure
- Fundamentally safer chemistry that practically eliminates risk of thermal runaway and toxic electrolyte leakage

Thinfilm's 2020 annual report is scheduled to be published on 29 April 2021.

Thinfilm is Energizing Innovation(TM) 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:
Kevin Barber - Chief Executive Officer
Email: 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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