Enovix delivers battery cells from its production line for

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FREMONT, Calif., March 03, 2022 (GLOBE NEWSWIRE) — Enovix Corporation (“Enovix”) (Nasdaq: ENVX), the leader in the design and manufacture of next-generation 3D Silicon™ lithium-ion batteries, today announced today the launch will deliver qualifying cells to customers from its factory in January 2022. This milestone demonstrates that the company’s first automated production line is capable of producing Enovix batteries that meet customer requirements.

“The industry has been building batteries essentially one way for decades, incrementally innovating with better materials and chemistries. We knew that designing, assembling and producing an entirely new Li-ion battery architecture would be very challenging, but our passion for solving tough problems and the collective belief that the world desperately needs a better battery have helped us overcome these hurdles to develop and produce the next generation lithium-ion battery,” said Harrold Rust, Co-Founder, President and CEO of Enovix.”Delivering qualification cells to customers and conducting customer audits are the next steps on our journey to commercial delivery of our advanced silicon-anode lithium-ion batteries in the second quarter. 2022.”

Enovix also recently obtained internal UN38.3 certification for its portable cell (EX01-351829). UN38.3 is the United Nations standard for the safe transport of lithium-ion batteries and is only granted to products that meet strict international standards for safety and abuse tolerance through a certified testing protocol in series.

“Our customers rely on us to supply our high energy density batteries for their next generation devices,” said Cam Dales, Managing Director and Chief Commercial Officer. “It is rewarding to move from winning design to delivering cells to major device OEMs to qualify them for integration into their next-generation mobile products. We look forward to propelling the technologies and industries of the future.

Shipping the qualification cells is the next step in preparing the company for commercial delivery, a process that began with the installation of its equipment in August 2021. This was followed by the production of the first cells of the company’s automated production line in September 2021. In addition to cell evaluation and validation, customers are currently conducting Enovix factory audits.

About Enovix
Enovix is ​​the leader in the development and production of advanced silicon anode lithium-ion batteries. The company’s proprietary 3D cell architecture increases energy density and maintains high cycle life. Enovix is ​​building an advanced silicon anode lithium-ion battery production facility in the United States for volume production. The company’s initial goal is to provide designers of class-leading mobile devices with a high-energy battery so they can create more innovative and efficient wearable products. Enovix is ​​also developing its 3D cell technology and production process for the electric vehicle and energy storage markets to enable widespread use of renewable energy. For more information, visit www.enovix.com.

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, which involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as “believe”, “will”, “may”, “estimate”, “continue”, “anticipate”, “intend”. , “should”, “plan”, “expect”, “predict”, “could”, “potentially”, “target”, “project”, “believe”, “continue” or the negative form of these terms or similar expressions. press release include, but are not limited to, statements regarding the ability to meet customer requirements, delivery of qualifying samples, and the design and performance of our lithium-ion battery solutions. Actual results could differ materially from these forward-looking statements as a result of certain risks and uncertainties, including, without limitation, the risks set forth under “Risk Factors” in the Form 10-Q filed by us. with the Securities and Exchange Commission (the “SEC”) on November 15, 2021, and additional information that will be set forth in our Annual Report on Form 10-K for the year as of January 2, 2022 and other documents we have filed or will file with the SEC. Any forward-looking statements we make in this press release speak only as of the date they are made and subsequent events may cause these expectations to change. We disclaim any obligation to update or change 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 and media inquiries, please contact:

Enovix Corporation
Charles Anderson
Phone: +1 (612) 229-9729
Email: [email protected]

Where

The Blueshirt Group
Gary Dvorchak, CFA
Phone: (323) 240-5796
Email: [email protected]

For media inquiries, please contact:

Enovix Corporation
Christine Atkins
Telephone: +1 (650) 815-6934
Email: [email protected]

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