Ensurge Micropower ASA - Q4 2023

Rhea-AI Summary

Ensurge Micropower ASA achieved a significant milestone by producing the world's first functional commercial-scale solid-state lithium microbattery. The company plans to ramp up manufacturing capacity to meet demand from partners and customers, with a focus on revenue growth and expanding its customer base. Ensurge has developed a leaner packaging process, filed more patent applications, and strengthened entry barriers for competitors. The company has signed evaluation agreements with leading customers and aims to become the market leader for power supply in wearables, hearables, and IoT-connected sensors.

Highlights

• In February 2024 Ensurge Micropower ASA produced the world ́s first functional commercial-scale solid-state lithium microbattery using a 10-micron stainless steel substrate.

• The Ensurge solid state microbattery will transform the market for hearables, wearables and IoT-connected sensors and we will now ramp up the manufacturing capacity to meet demand from partners and customers. The manufacturing will take place in our San Jose facility, and we plan to deliver the 10-micron battery to technology partners and customers in Q1 2024.

• With the technology challenges resolved the company will now turn its focus to revenue growth. Firstly, to deliver microbatteries to its existing customer base and technology partners. Secondly, to finalize contracts with the large pipeline of potential customers having approached the company over the last six months.

• The company has developed a  leaner packaging process, resulting in lower production cost and faster cycle time when scaling up. The knowledge gained has enabled us to file more patent applications and strengthen the entry barriers for competitors.

• The company has experienced an extraordinary level of interest and demand across all targeted sectors, and has signed several evaluation agreements with leading customers within the wearables, hearables and medical sector. 

• The first commercial delivery of the 150,000 unit contract is expected in Q2 2024.

• The company expects to close larger technology contracts with partners and customers over the next months where the customer pays a significant USDm up front fee.

 

• Ensurge aims to become the market leader for power supply to wearables, hearables and IoT-connected sensors. With a flexible form factor, safety, number of charging cycles, extraordinary pulse rate and power density, our battery fits perfectly into the needs of these customers.

• In November 2023 our battery design was recognized by the U.S. Department of Energy’s (DOE) Microbattery Design Competition.

 

• In December 2023 we received notification that a further three patents would be issued by the US Patent Office, making it 4 out of 4.

 

• In early February 2024, the company attended the Medical Battery Conference in Anaheim, California, and received significant interest from a wide variety of companies in the medical space.

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.

Contact Investor Relations 
E-mail: IR@ensurge.com

Lars Eikeland, CEO at Ensurge 
E-mail: lars.eikeland@ensurge.com

Attachment

• Ensurge_Q4_2023

FAQ

What milestone did Ensurge Micropower ASA achieve in February 2024?

Ensurge Micropower ASA produced the world's first functional commercial-scale solid-state lithium microbattery.

Where will the manufacturing of the 10-micron battery take place?

The manufacturing of the 10-micron battery will take place in Ensurge Micropower ASA's San Jose facility.

What sectors have shown interest in Ensurge's microbattery technology?

Ensurge has experienced an extraordinary level of interest and demand across all targeted sectors, including wearables, hearables, and the medical sector.

How many patents has Ensurge Micropower ASA received from the US Patent Office?

Ensurge Micropower ASA has received notification that four patents, including the recent three, would be issued by the US Patent Office.

What recognition did Ensurge's battery design receive in November 2023?

Ensurge's battery design was recognized by the U.S. Department of Energy's Microbattery Design Competition in November 2023.