Ensurge Micropower Appoints Canaccord Genuity as Financial Advisor

Rhea-AI Summary

Ensurge Micropower ASA is entering the commercialization phase of its solid-state micro-battery technology, targeting a market of 1 billion rechargeable micro batteries. The company has appointed Canaccord Genuity LLC as a financial advisor to explore financing structures and strategic partnerships for rapid growth. Ensurge's innovative technology offers lightweight, cost-effective solutions for applications in wearable devices and connected sensors. However, the company cautioned that no assurance exists for timely transactions or attractive terms.

Positive

• Ensurge is entering commercialization of its solid-state micro-battery technology, indicating potential revenue growth.
• Appointment of Canaccord Genuity as a financial advisor may enhance strategic partnerships and financing options.

Negative

• Lack of assurance for timely transactions or completion on favorable terms raises concerns about future financing.
• Market entry may face competition, impacting growth projections.

Oslo, 22 December 2022

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, HONG KONG, JAPAN OR THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. 

Ensurge Micropower ASA (“Ensurge” or the “Company”) is entering the commercialization phase with its unique solid-state micro-battery technology and is exploring financing structures to enable the company to grow rapidly into what is estimated to be a total addressable market of 1 billion units of rechargeable micro batteries.  Ensurge has appointed Canaccord Genuity LLC (“Canaccord Genuity”) as a financial advisor to provide advice on such structures and on strategic activities, including industrial and financial partnerships.
Please note that there can be no assurance that a transaction would occur in a timely manner, if at all, or that a transaction would be completed on attractive terms. Ensurge does not intend to comment further unless or until its Board of Directors has approved potential transactions, or it is determined other disclosure is appropriate. 

Ensurge Micropower in brief 
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 micro 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. 

For more information, please 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 considered to be inside information pursuant to the EU Market Abuse Regulation (MAR) and is subject to the disclosure requirements pursuant to MAR article 17 and section 5 -12 of the Norwegian Securities Trading Act. This stock exchange release was published by Ståle Bjørnstad, VP, Corporate Development and IR, on 22 December 2022 at 14.00 CET.

Important information: This announcement is not and does not form a part of any offer to sell, or a solicitation of an offer to purchase, any securities of the Company. The distribution of this announcement and other information may be restricted by law in certain jurisdictions. Copies of this announcement are not being made and may not be distributed or sent into any jurisdiction in which such distribution would be unlawful or would require registration or other measures. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions. 

FAQ

What is Ensurge Micropower's new strategy announced in December 2022?

Ensurge Micropower announced it is entering the commercialization phase of its solid-state micro-battery technology.

Who is Ensurge Micropower's financial advisor for new financing structures?

Ensurge has appointed Canaccord Genuity LLC as its financial advisor.

What market is Ensurge Micropower targeting with its micro-battery technology?

Ensurge is targeting a market of 1 billion units for rechargeable micro batteries.

What are the potential risks mentioned in Ensurge Micropower's press release?

The risks include lack of assurance for timely transactions and competition in the market.

What kind of applications are the solid-state micro-batteries designed for?

The batteries are designed for wearable devices, connected sensors, and other applications.