Ensurge Announces Customer Agreement with Second Hearables Market Leader
Oslo, 4 October 2021
Ensurge Micropower ASA (OSE: ENSU, OTCQB: ENMPY) today announced the signing of a customer agreement with a second global leader in the hearables market. This achievement builds on the company's previously announced agreements with a leading global hearables manufacturer and a Fortune Global 500 company active in the wearables market. Under the terms of the agreement, Ensurge will deliver Microbattery Product Platform (MPP)-based solid-state microbatteries optimized for medical hearables devices.
"We are proud to announce an agreement with a second global leader in the hearables industry," said Ensurge CEO Kevin Barber. "In addition to higher capacities, smaller sizes, and longer product lifespans, the decision to work with Ensurge was driven by our form factor flexibility, enabling entirely new thinking around product design."
Ensurge customer engagement has expanded beyond hearing aids and wearables to include earbuds, medical devices, and IoT applications that represent a combined microbattery opportunity approaching $10 billion. In addition, Ensurge sees strong customer interest enabling new applications that are possible only with a combination of solid-state microbattery technology and form factor flexibility offered by Ensurge. These new applications have the potential to drive the total market opportunity well beyond existing markets.
Ensurge MPP-based microbatteries combine the company's unique ultrathin steel technology with solid-state chemistry to deliver powerful, ultracompact, and fundamentally safe rechargeable batteries for hearables, wearables, connected sensors, and beyond. Ensurge batteries can enable new, more comfortable form factors and superior volumetric energy densities, allowing customers to choose smaller batteries or higher capacities, depending on their design priorities.
The company remains on track to deliver initial MPP-based customer samples in the fourth quarter of 2021 and ramp volume production in 2022.
About Ensurge
Ensurge is Energizing Innovation™ 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
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Phone:
Kevin Barber - Chief Executive Officer
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This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
