Enovix Completes Acquisition of Routejade
02 11월 2023 - 5:01AM
Enovix Corporation (“Enovix”) (Nasdaq: ENVX), an advanced silicon
battery company, today announced that it has completed the
acquisition of privately-held Routejade, an established Korean
battery manufacturer.
The acquisition provides Enovix with vertical integration of
electrode coating and battery pack manufacturing, while adding an
established lithium-ion battery business with two factories in
Korea, along with complementary products, customers, and suppliers.
With coating now vertically integrated, 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 incoming battery materials are the highest quality
available, 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.
Routejade manufactures and sells lithium-ion cells and packs to
more than 30 customers globally, and there is significant synergy
with most of these customers being able to continue their ongoing
business relationships with both Routejade and Enovix products.
“We are thrilled to welcome the Routejade team to Enovix,” said
Dr. Raj Talluri, President and CEO of Enovix. “Our teams are
already working well together incorporating Routejade coating into
our manufacturing process and we see great opportunities to enhance
our R&D and commercialization efforts through the
combination.”
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 Statements
This release contains forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, about us and our industry that involve substantial risks
and uncertainties. Forward-looking statements generally relate to
future events or our future financial or operating performance. In
some cases, you can identify forward-looking statements because
they contain words such as “will,” “goal,” “prioritize,” “plan,”
“target,” “expect,” “focus,” “look forward,” “opportunity,”
“believe,” “estimate,” “continue,” “anticipate,” and “pursue” or
the negative of these terms or similar expressions. Forward-looking
statements include, but are not limited to, statements regarding
our expectations regarding, and our ability to respond to, market
and customer demand, our customers’ releases of products using our
batteries, our financial and business performance, projected
improvements in our manufacturing, commercialization and R&D
activities. Forward looking statements also include the following
regarding the acquisition of Routejade: our expectations regarding
Routejade’s coating capabilities, the business expectations of
Routejade, the ability to realize synergies from Routejade, the
ability to accelerate product development, the ability to realize
materials cost-down efforts, the ability to support multiple
customer requirements and continue ongoing business relationships
with both Routejade and Enovix products. Actual results could
differ materially from these forward-looking statements as a result
of certain risks and uncertainties, including, without limitation,
our ability to improve energy density among our products, our
ability to establish sufficient manufacturing and optimize
manufacturing processes to meet demand, sourcing or establishing
supply relationships, adequate funds to acquire our next
manufacturing facility, market acceptance of our products, changes
in consumer preferences or demands, changes in industry standards,
the impact of technological development and competition, and global
economic conditions, including inflationary and supply chain
pressures, and political, social, and economic instability,
including as a result of armed conflict, war or threat of war,
terrorist activity or other security concerns or trade and other
international disputes that could disrupt supply or delivery of, or
demand for, our products. For additional information on these risks
and uncertainties and other potential factors that could affect our
business and financial results or cause actual results to differ
from the results predicted, please refer to our filings with the
Securities and Exchange Commission (the “SEC”), including in the
“Risk Factors” and “Management’s Discussion and Analysis of
Financial Condition and Results of Operations” sections of our most
recently filed annual report on Form 10-K and quarterly report on
Form 10-Q and other documents that we have filed, or that we will
file, with the SEC. Any forward-looking statements made by us in
this release speak only as of the date on which they are made and
subsequent events may cause these expectations to change. We
disclaim any obligations to update or alter these forward-looking
statements in the future, whether as a result of new information,
future events or otherwise, except as required by law.
For investor and media inquiries, please
contact:
Enovix CorporationCharles AndersonPhone: +1 (612) 229-9729Email:
canderson@enovix.com
For media inquiries, please
contact:
Enovix CorporationKristin AtkinsPhone: +1 (650)
815-6934Email: katkins@enovix.com
Enovix (NASDAQ:ENVX)
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