Ensurge Micropower ASA – Financial Report - Fourth Quarter 2021
Ensurge Micropower ASA has released its Q4 2021 interim report, showcasing major advancements. The company plans to ship functional samples soon, having optimized its packaging and battery integration processes. It has prepared its roll-to-roll line for solid-state microbattery production. Significant customer agreements with a Fortune 500 company and a leader in digital health were announced, highlighting increased customer leads. These developments affirm Ensurge's position in the energy storage market.
- Expecting to ship functional samples in the near term.
- Roll-to-roll line ready for volume manufacturing of solid-state microbatteries.
- Cycles of learning increased, enhancing optimization speed.
- Two significant customer agreements with a Fortune 500 company and a digital health leader.
- None.
Ensurge Micropower ASA ("Ensurge" or the "Company") today released its interim report for the fourth quarter of 2021 and the condensed consolidated financial statements as of 31 December 2021 for the Ensurge Micropower ASA group.
Report highlights include:
- Ensurge is expecting to ship functional samples in the short term as it advances its packaging process optimization and overall battery integration efforts
- Roll-to-roll line prepared for volume manufacturing with upgrades to the tools optimizing them for solid-state microbattery production
- Cycles of learning have more than doubled, significantly accelerating the rate of optimization
- Announced a customer agreement with a Fortune 500 industrial company active in manufacturing capital equipment. Ensurge will provide solid-state microbatteries optimized for the customer’s specific application.
- Announced second customer agreement with a leader and innovator in the digital health market. Agreement includes delivery of custom Ensurge microbatteries for production starting in the fourth quarter of 2022.
- Significant increase in inbound customer leads and a healthy customer pipeline validating Ensurge value propositions
CEO Kevin Barber will discuss the Company's progress via web conference on Wednesday 23 February 2022 at 8:00am Central European Time. At the time of the event, the conference can be accessed at https://channel.royalcast.com/landingpage/hegnarmedia/20220222_3/.
Following the event, a recording will be available on the Company's investor relations website at https://ensurge.com/investor-relations/presentations-webcasts/.
The fourth quarter financial report and the presentation used for the webcast are attached.
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 of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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