FREMONT, Calif., Aug. 24, 2022 (GLOBE NEWSWIRE) — Enovix Corporation (“Enovix”) (Nasdaq: ENVX) the leader in the design and manufacture of next generation 3D Silicon™ Lithium-ion batteries, today announced Patrick Donnelly, Vice President, Strategic Business Development, will speak at The Battery Show and Electric Vehicle (EV) Technology Expo in Novi, Michigan, September 13-15, 2022.
Donnelly’s presentation on Tuesday, September 13th at 4:30 p.m. (Eastern Daylight Time) titled “Overcoming Generations of Innovation Roadblocks to Create & Commercialize the Next-gen Lithium-ion Battery,” will provide an overview of Enovix and its application to the EV market.
Announced recently and included in the company’s Q2 2022 Shareholder Letter, Enovix provided an update on its Department of Energy grant program that pairs a 100% active silicon anode with EV-class cathode materials. After nearly six months at elevated temperatures (30-50 C), Enovix batteries had minimal capacity loss. The company now has nine months of data that validates its projection that Enovix cells have a calendar life greater than 10 years, which historically has been a significant barrier to the adoption of silicon anodes in EV batteries. The company also demonstrated its small format development cells (0.27Ah test cells with cathode chemistries that are common in batteries for EVs) had the ability to charge from 0-80% state-of-charge in as little as 5.2 minutes. Enovix estimates its unique battery design dissipates heat nearly 5x faster than comparable conventional cells.
In June, the company announced it bolstered its Enovix Mobility leadership team.
More information on The Battery Show and EV Technology Expo can be found here.
Forward Looking Statements
This Press Release and Presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, about us and our industry that involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as “believe”, “will”, “may”, “estimate”, “continue”, “anticipate”, “intend”, “should”, “plan”, “expect”, “predict”, “could”, “potentially", “target”, “project”, “evaluate,” “emerge,” “focus,” “goal” or the negative of these terms or similar expressions. Forward-looking statements in this Presentation include, but are not limited to, statements regarding projected calendar life, rate of charge capability, and heat dissipation characteristics of our cells. Actual results could differ materially from these forward-looking statements as a result of certain risks and uncertainties. For additional information on these risks and uncertainties and other potential factors that could affect our business and financial results or cause actual results to differ from the results predicted, please refer to our filings with the Securities and Exchange Commission (the “SEC”), including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of our most recently filed periodic report on Form 10-Q and other documents that we have filed, or that we will file, with the SEC. Any forward-looking statements made by us in this Press Release and Presentation speak only as of the date on which they are made and subsequent events may cause these expectations to change. We disclaim any obligations to update or alter these forward-looking statements in the future, whether as a result of new information, future events or otherwise, except as required by law.
About Enovix
Enovix is the leader in advanced silicon-anode lithium-ion battery development and production. The company’s proprietary 3D cell architecture increases energy density and maintains high cycle life. Enovix is building an advanced silicon-anode lithium-ion battery production facility in the U.S. for volume production. The company’s initial goal is to provide designers of category-leading mobile devices with a high-energy battery so they can create more innovative and effective portable products. Enovix is also developing its 3D cell technology and production process for the electric vehicle and energy storage markets to help enable widespread utilization of renewable energy. For more information, go to www.enovix.com.
For investor inquiries, please contact:
Enovix Corporation
Charles Anderson
Phone: +1 (612) 229-9729
Email: canderson@enovix.com
The Blueshirt Group
Gary Dvorchak, CFA
Phone: (323) 240-5796
Email: gary@blueshirtgroup.com
For media inquiries, please contact:
Enovix Corporation
Kristin Atkins
Phone: +1 (650) 815-6934
Email: katkins@enovix.com
