Company Announcements

FREMONT, Calif., Oct. 02, 2024 (GLOBE NEWSWIRE) -- Enovix Corporation (“Enovix”) (Nasdaq: ENVX), a global high-performance battery company, announced today that it commenced shipping EX-1M battery cell samples from its new Agility Line in Malaysia last week. This is an important milestone on the Company’s journey to scale which follows shipping initial samples from Fab1 in California, and opening high-volume Fab2 in Malaysia just this summer. Enovix also recently completed internal UN38.3 certification for cells now shipping. UN38.3 is the United Nations standard for safe transportation of Lithium-ion batteries and is only granted to products that meet strict international safety and abuse tolerance standards through a series certified test protocol. By shipping samples within the third quarter of 2024, the Company is on track to commence high-volume production in 2025.

"I'm incredibly proud of our team in Malaysia for achieving this major production milestone so soon after the facility's opening," said Ajay Marathe, COO of Enovix Corporation. "This success with the Agility line is an encouraging early indicator as we prepare for the high-volume line, which is on track for Site Acceptance Testing (SAT) completion."

About Enovix

Enovix is on a mission to deliver high-performance batteries that unlock the full potential of technology products. Everything from IoT, mobile, and computing devices, to the vehicle you drive, needs a better battery. Enovix partners with OEMs worldwide to usher in a new era of user experiences. Our innovative, materials-agnostic approach to building a higher performing battery without compromising safety keeps us flexible and on the cutting-edge of battery technology innovation.

Enovix is headquartered in Silicon Valley with facilities in India, Korea and Malaysia. For more information visit www.enovix.com and follow us on LinkedIn.

For media and investor inquiries, please contact:

Enovix Corporation

Robert Lahey

Email: ir@enovix.com