MONYMAN3
2 months ago
Yes, not a very active board. IMO, right now ENVX is a lottery ticket. Even if Fab2 works out as hoped, it will be only able to produce 9 M batteries. To be successful, they need to produce hundreds of millions. This would require current battery companies to license ENVX's technology, consumer device makers to fund battery lines and or partner with ENVX. That's a lot of "ifs". ENVX is my smallest investment and I watch it closely. They must continue to hit the milestones they set for themselves. I trust in TJ Rodgers to help them scale and avoid pitfalls but this will not happen overnight IMO.
creakyhottie
7 months ago
FREMONT, Calif., Sept. 20, 2023 (GLOBE NEWSWIRE) --
Enovix Corporation ("Enovix") (Nasdaq: ENVX), an advanced
silicon battery company, today announced the acquisition of
privately-held Routejade, an established Korean battery
manufacturer for a total consideration of approximately 6.2
million shares of Enovix common stock and $16.5 million in
cash assuming purchase of 100% of Routejade. The acquisition
provides Enovix with vertical integration of electrode
coating and battery pack manufacturing while adding an
established lithium-ion battery business with factories in
Korea, along with complementary products, customers, and
suppliers. The transaction is expected to close in the
fourth quarter of 2023 and be immediately
accretive.
Routejade has been qualified as
a supplier of coated rolls of electrodes for Enovix
batteries with capacity to support the Fab2 scale-up that
begins in 2024. By bringing coating capability in-house,
Enovix intends to realize significant cost savings while
speeding up battery development cycles as modern materials
are quickly incorporated to improve energy density. Securing
the coating supply chain is also intended to ensure the
quality of incoming battery materials which can positively
impact manufacturing yield and
throughput.
Routejade brings over 20 years
of experience as a manufacturer and supplier of lithium-ion
batteries, targeting end markets such as wearables,
hearables, medical, industrial, and the South Korean
military. Routejade's patented encapsulation technology
allows for circular and asymmetric battery form factors,
complementing the ability of Enovix to support multiple
customer requirements.
"This is a
compelling acquisition with a strong ROI profile for Enovix
given the obvious financial benefits of vertically
integrating coating while providing our R&D team quicker
access to new materials to enhance our product roadmap and
benefit customers," said Dr. Raj Talluri, President and CEO
of Enovix. "My vision is for Enovix to grow our battery
performance metrics at a significantly faster rate than the
industry by harnessing the materials agnostic nature of our
architecture and this transaction accelerates our ability to
execute that plan."
Continued Dr. Talluri,
"We are also making tremendous strides in manufacturing with
yield gains in Fremont, which positions our Gen2 equipment
for a strong start in 2024. We have been very impressed with
Routejade's coating know-how and believe it will only
improve our ability to deliver competitive yields while
producing batteries in high volume at an attractive cost
structure."
Routejade is led by CEO Mr.
Kihong Park. Mr. Park has approximately 30 years of
experience in Li-ion battery manufacturing businesses in
Korea, including a 21-year tenure at Kokam (now SolarEdge
Energy Storage Division), where he served in roles such as
CTO and COO. Mr. Park will report to Dr. Talluri and
continue to run the Routejade business.
"We
are excited to join Enovix, a truly revolutionary company in
the lithium-ion battery industry," said Mr. Park. "The
growth prospects for this business are substantial, and we
look forward to playing an important role in Enovix's
journey to scale."
Conference Call
Information
Enovix will hold a video
conference call at 2:00 PM PT / 5:00 PM ET today, September
20, 2023, to discuss the Routejade acquisition. To join the
call, participants must use the following link to register:
https://enovix-update-sept-2023.open-exchange.net/. This
link will also be available via the Investor Relations
section of Enovix's website at https://ir.enovix.com. An
archived version of the call will be available on the Enovix
investor website for one year at
https://ir.enovix.com.
About EnovixEnovix
is on a mission to power the technologies of the future.
Everything from IoT, mobile and computing devices, to the
vehicle you drive, needs a better battery. The company's
disruptive architecture enables a battery with high energy
density and capacity without compromising safety. Enovix is
scaling its silicon-anode, lithium-ion battery manufacturing
capabilities to meet customer demand. For more information
visit www.enovix.com and follow us on
LinkedIn.
Forward-Looking
TradingCharts
8 months ago
When a conventional lithium-ion battery is pierced or severely damaged, a short can occur, discharging the cell in microseconds and potentially releasing a violent and often fiery chain reaction. Itโs called thermal runaway and, well, itโs bad. Thatโs why we created BrakeFlow™, an intra-cell system that increases abuse tolerance.
It wasnโt enough to reimagine the lithium-ion battery, weโve also introduced a whole new level of safety.
https://www.enovix.com/brakeflow/?brakeflow
Monksdream
10 months ago
ENVX
Enovix Corp NASDAQ: ENVX
GoSymbol lookup
Industrials : Electrical Equipment | Company profile
Enovix Corporation is an advanced silicon battery company. The Company designs, develops, and commercially manufactures an advanced silicon-anode lithium-ion (Li-ion) battery using its three-dimensional (3D) cell architecture. Its standard Li-ion battery production involves electrode fabrication, cell assembly and battery packaging and formation. Its product is focused on developing battery nodes that share the same set of materials and mechanical design and then builds batteries at different sizes to accommodate customer requirements based on these nodes. Its product roadmap consists of future nodes of energy density based on both materials and design. The Company has built and sampled standard-size batteries that have a range of applications within specific end markets, such as wearables, mobile devices, laptops and augmented reality (AR) eyewear. The Companyโs subsidiaries include Enovix Operations Inc., Enovix HoldCo Limited, Enovix OpCo Limited and Enovix India Holdco LLC.