Ensurge Micropower ASA; Announcement regarding Organizational and Board Changes

Oslo, Norway 3 July 2023. 

Ensurge Micropower ASA ("Ensurge" or the "Company") announces that Terje Rogne, Chair, will become more involved in the business operations of the Company. The focus areas for the Company include getting the battery ready for distribution to the existing customer base, acquiring new customers, building the partner pipeline, and hiring a new permanent CEO of the Company.  Ensurge has done significant progress over the last three months, and the Company aims to build on this to further speed up the commercialization process. Terje Rogne’s executive services will be a material contribution in this regard. 

Further, the engagement of Mark Newman, as Interim Chief Executive Officer, will come to an end effective 15 July 2023. While Ensurge’s search for a permanent Chief Executive Officer remains ongoing, the Company is pleased to announce that Lars P. Eikeland, existing interim Chief Financial, also will assume the role as new Interim Chief Executive Officer, effective as of 15 July 2023.

Ensurge further announces that Victoire de Margerie has resigned from the Board of Directors. 

The Company wishes to take the opportunity to thank both Mr. Newman and Ms. de Margerie for their valuable services to the Company as Interim CEO and Board member, respectively. 

As announced in the Company’s Notice of Extraordinary General Meeting, which is scheduled to take place on 11 July 2023, the Board composition in Ensurge will be considered at such general meeting and the Nomination Committee will present a proposal to the shareholders prior to the general meeting, also ensuring that the Company’s Board will meet the applicable statutory independence and gender requirements. 

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, Chair 

Phone:  200 

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