Thinfilm Updates Solid-State Battery Manufacturing Progress

Oslo, 3 August 2020

Thin Film Electronics ASA ("Thinfilm" or the "Company"), a developer of ultrathin, flexible, and safe energy storage solutions for wearable devices and connected sensors, today announced multiple achievements in support of its strategy to manufacture premium microbattery products based on solid-state lithium battery ("SSLB") technology.

Thinfilm can now confirm the successful completion of the accelerated consolidation of remaining SSLB process equipment in Thinfilm's San Jose, California facility, in line with the Company's plans announced 10 July 2020. The consolidated production environment enables Thinfilm control of the entire production process and eliminates the transfer of work-in-progress material between facilities. This streamlined approach gives Thinfilm complete control over the material processing environment to increase manufacturing consistency as well as operational flexibility. By reducing cycle times by 50% or more and increasing tool utilization, Thinfilm's consolidated manufacturing environment enables continued rapid development of SSLB technology and products. The Company expects these improvements to further reduce risks to manufacturing operations posed by the ongoing COVID-19 pandemic.

Furthermore, the Company has successfully completed and passed its recent quality system audit, thereby renewing Thinfilm's ISO 9001:2015 certification with an updated scope including the development, manufacturing, and sales of solid-state lithium batteries. Thinfilm's ISO 9001 certification, originally awarded in 2015, demonstrates the Company's commitment to quality in all aspects of its operations and enables the Company to satisfy customer requirements for a rigorous, audited quality management system.

Thinfilm is now actively developing customer-ready samples to enable validation of key performance characteristics of the Company's SSLB technology in diverse applications, including wearable devices and connected sensors. These samples will also allow the Company and its ecosystem partners to evaluate Thinfilm SSLB performance together with partner technologies to jointly enable innovative rechargeable systems.

Thinfilm is Energizing Innovation™ with ultrathin, flexible, and safe energy storage solutions for wearable devices, connected sensors, and beyond. Thinfilm'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. Thin Film Electronics ASA is a publicly listed company in Norway with corporate headquarters in Oslo and global headquarters in San Jose, California.

Contact:

Kevin Barber - Chief Executive Officer

E-mail:

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