Ensurge Micropower ASA – Q3 - 2023

Rhea-AI Summary

Ensurge (ticker symbol: ENSR) achieved significant milestones in Q3 – 2023, including the finalization and shipment of the 11-layer stacked battery samples to customers and strategic partners. Additionally, progress was made on the 43-layer battery, with expectations for availability in Q4 2023 and increased production volume in Q1 2024. The company also experienced a notable increase in sales leads from Fortune 500 companies and smaller businesses, with validation of their novel architecture and manufacturing process in a scientific article. Furthermore, Ensurge obtained approval for their first solid-state battery patent and successfully completed fundraising of NOK 52 million in Q3 2023.

Positive

• Significant progress made on the development and shipment of 11-layer and 43-layer batteries
• Strong uptick in sales leads from major companies and validation of novel architecture in scientific article
• Approval of first solid-state battery patent and successful completion of fundraising for NOK 52 million

Negative

• None.

Key Highlights Q3 – 2023

The 11-layer stacked battery was finalized, and
we started shipping the samples to customers
and strategic partners. The 11-layer battery
demonstrates the uniqueness of Ensurge’s novel
architecture and is a major milestone in the industry.

Great progress on the 43-layer battery
based on 10-micron stainless steel. Ensurge expects
this battery to be available for customers and
strategic partners in Q4 2023, with production
volume increasing in Q1 2024.

There has been a strong uptick in sales leads from
Fortune 500 companies and smaller companies that
understand the transformative effect the Ensurge
battery will have for the entire wearables/IoT
industry and their specific products.

Verification of our novel architecture and
manufacturing process in a scientific article in
American Chemical Society, to which our advisor
Shirley Meng and Ensurge’s CTO Arvind Kamath
were important contributors.

First solid-state battery patent was approved in
Q3 2023.

Finalized fundraising of NOK 52 million in
Q3 2023

About Ensurge Micropower: Ensurge is Energizing Innovation(TM) with the first ultrathin, flexible, reliable, and fundamentally safe solid-state lithium microbattery for the 1 to 100 milliampere-hour (mAh) class of wearable devices, connected sensors, and beyond. The innovative Ensurge Microbattery enables energy-dense rechargeable products that are ideal for form-factor-constrained applications including hearables (hearing aids and wireless headphones), digital and health wearables, sports and fitness devices, and IoT sensor solutions that use energy harvesting to power everyday things. The company's state-of-the-art 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 Ensurge technology to established and expanding markets. 

For more information, please contact: 
Terje Rogne, Chairman Phone: +47 472 02 200 

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

Attachment

• Ensurge_Q3_2023_final

FAQ

What are the major milestones achieved by Ensurge in Q3 – 2023?

In Q3 – 2023, Ensurge finalized and shipped the 11-layer stacked battery samples and made significant progress on the 43-layer battery. The company also experienced a notable increase in sales leads from major companies and validation of their novel architecture in a scientific article. Additionally, Ensurge obtained approval for their first solid-state battery patent and successfully completed fundraising for NOK 52 million.

What is the expected availability of the 43-layer battery for customers and strategic partners?

Ensurge expects the 43-layer battery to be available for customers and strategic partners in Q4 2023, with production volume increasing in Q1 2024.

What was the fundraising amount completed by Ensurge in Q3 – 2023?

Ensurge successfully finalized fundraising of NOK 52 million in Q3 2023.