Ensurge enters the fast-growing digital health market through a major customer agreement
On January 19, 2022, Ensurge Micropower ASA (OTCQB: ENMPY) announced a customer agreement to deliver customized solid-state microbatteries for digital health applications. Production is set to begin in Q4 2022, with milestone payments for customization. CEO Kevin Barber highlighted the advantages of Ensurge's microbatteries, including flexible form factors and fast charging, which are well-suited for the growing digital health and remote patient monitoring markets. The Covid pandemic has accelerated demand for these devices, presenting new business opportunities for Ensurge.
- Secured a customer agreement for solid-state microbatteries in digital health, indicating strong market interest.
- Potential to tap into the expanding digital health and remote patient monitoring markets, boosted by pandemic-driven demand.
- Milestone payments for battery customization provide additional revenue streams.
- None.
Oslo, 19 January 2022
Ensurge Micropower ASA (OSE: ENSU, OTCQB: ENMPY) today announced the signing of a customer agreement with a leader and innovator in the digital health market. Under the terms of the agreement, Ensurge will deliver customized Ensurge solid-state microbatteries for production starting in the fourth quarter of 2022. Ensurge is receiving several milestone-based payments for the customization.
"This win is a significant achievement for Ensurge as it allows us to tap into the exploding digital health and remote patient monitoring markets," said Ensurge CEO Kevin Barber. "Ensurge microbatteries bring unique value propositions to these devices. Flexible form factors, fast charging, ability to support high current draw and wider temperature range differentiate Ensurge microbattery in addition to the higher density, charge cycles and safety.” He added: “I am also pleased to note that this agreement includes delivery of production microbatteries in 2022.”
Devices that deliver digital health and remote patient monitoring services have unique power requirements that align well with Ensurge solid-state microbatteries. These devices have proliferated over the last few years as the world has become more health-conscious, offering more business opportunities for Ensurge. The Covid pandemic has accelerated the adoption of these digital health monitoring devices, which gives Ensurge a unique position for its well suited solid-state microbatteries Ensurge is actively engaging with various key players in this market segment.
Ensurge customer engagement continues to expand beyond hearing aids and wearables to include medical devices, industrial IoT and earbuds. Ensurge sees strong customer interest enabling new applications that are possible only with a combination of solid-state microbattery technology and form factor flexibility offered by Ensurge. These new applications have the potential to drive the total market opportunity well beyond existing markets.
About Ensurge
Ensurge is Energizing Innovation(TM) 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.
Contact
Ståle Bjørnstad - Investor Relations
E-mail: stale.bjornstad@ensurge.com
Phone: +47 99 16 76 72
Kevin Barber - Chief Executive Officer
E-mail: kevin.barber@ensurge.com
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
