Enovix Corporation: Enovix and Group14 Announce Collaboration to Develop Best-in-Class Silicon Batteries

FREMONT, Calif., Jan. 08, 2024 (GLOBE NEWSWIRE) -- Enovix Corporation ("Enovix") (Nasdaq: ENVX), an advanced silicon battery company, and Group14 Technologies, a leading manufacturer and supplier of active silicon battery material, today announced their collaboration to develop a silicon battery using Group14's silicon-carbon composite SCC55^® for 100% of the anode material within Enovix's battery architecture. Enovix and Group14 will additionally explore new ways to advance the performance and efficiency of lithium-ion silicon batteries, in line with their commitments to innovation, renewable energy and customer satisfaction.

"The lithium-ion battery has not significantly improved in nearly three decades and we're excited about the possibilities of collaborating with Group14 on the development of a battery that marries breakthrough technology from both companies to usher in a much-needed leap forward in the industry," said Dr. Raj Talluri, President and CEO of Enovix. "We've tested Group14's material and are impressed with the results so far. It has performed well within our architecture."

"We've entered the era of silicon batteries, answering an unprecedented call across all industries for higher performing, fast-charging capabilities," said Rick Luebbe, CEO of Group14 Technologies. "We look forward to a productive collaboration with Enovix, as Group14 continues to provide drop-in solutions to the world's leading silicon battery manufacturers."

Enovix is currently focused on manufacturing and commercializing its batteries for a variety of consumer electronics, including smartphones and IoT devices. The demand for more energy density, capacity, and fast charge continues to accelerate as devices become more personal and power intensive.

"We're at a tipping point where smartphone batteries cannot get any larger so breakthroughs in materials science and mechanical design are crucial since traditional graphite batteries have not kept pace with the technological advances in consumer electronics," added Talluri. "Our cell architecture is material agnostic, and by adopting the most advanced materials we can extend our performance leadership and reduce costs. We believe our collaborative efforts will provide a step-change increase in energy density, forging a new path in battery innovation."

Enovix's 100% active silicon batteries provide an increase in capacity of up to 50% compared to devices on the market today, with improvements on its technology roadmap intended to widen the gap. For more information about Enovix and its silicon-anode, lithium-ion battery technology, please visit www.enovix.com.

About Enovix
Enovix 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.

About Group14
Founded to enable the electrification of everything, Group14 is the world's leading commercial manufacturer and supplier of silicon battery technology. Today, Group14 is working with more than 80 customers globally, which represent 95% of worldwide battery production. Group14 operates a commercial-scale Battery Active Materials factory, BAM-1, in Woodinville, WA, and recently launched a joint venture factory with SK in South Korea. A second U.S. factory, BAM-2, in Moses Lake, WA, is expected to be completed in 2024. To date, Group14 has raised over $650 million in financing from investors and customers such as Porsche AG, Microsoft Climate Innovation Fund, OMERS, Lightrock Climate Impact Fund, Decarbonization Partners, Amperex Technology Limited (ATL), BASF, Resonac and SK Inc. Visit us at www.group14.technology.

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