Enovix Announces Its First High-Volume Production Facility Will Be Located in Malaysia
10 March 2023 - 9:32AM
Enovix Corporation (“Enovix”) (Nasdaq: ENVX), an advanced silicon
battery company, today announced its first high-volume
manufacturing facility (“Fab-2”) will be located in Penang,
Malaysia.
Dr. Raj Talluri, President and CEO of Enovix, said, “We’re
pleased to announce that we’ve chosen Malaysia as our Fab-2
location, joining an established and exciting ecosystem of
innovative high-tech manufacturing companies in the region. We’ll
have access to the country’s deep pool of technical talent,
business-friendly environment, and close proximity to our
customers’ manufacturing facilities, and our equipment and
materials vendors.”
Fab2 will support the company’s growth and scale up. Enovix
expects to begin production in 2024.
Ajay Marathe, COO of Enovix, said, “With more than three decades
of personally working closely with the Malaysian Government
authorities such as MIDA; Northern Corridor and Invest Penang, and
having successfully built and run several large factories for
companies such as AMD (recognized as one of the eight Samurai’s of
the Penang Island) and Lumileds, choosing Malaysia was an easy
decision to make. The rich talent of semiconductor-trained
engineers of various disciplines and manufacturing excellence,
particularly in the Penang region, makes it an ideal location to
set up our first high-volume operation for our innovative
batteries.”
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 press 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 “believe”, “will”, “may”, “estimate”, “continue”, “anticipate”,
“intend”, “should”, “plan”, “expect”, “predict”, “could”,
“potentially", “target”, “project”, “believe”, “continue” or the
negative of these terms or similar expressions. Forward-looking
statements in this press release include, but are not limited to,
statements regarding the location of its first high-volume
manufacturing facility (“Fab-2”) in Penang, Malaysia, access to
Malaysia’s deep pool of technical talent, business-friendly
environment, and close proximity to our customers’ manufacturing
facilities, and our equipment and materials vendors, support of the
company’s growth and scale up, and beginning production in 2024.
Actual results could differ materially from these forward-looking
statements as a result of certain risks and uncertainties. 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 periodic reports 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
press 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 media inquiries, please contact:
Enovix CorporationKristin AtkinsPhone: +1 (650) 815-6934Email:
katkins@enovix.com
For investor inquiries, please contact:
Enovix CorporationCharles AndersonPhone: +1 (612) 229-9729Email:
canderson@enovix.com
The Blueshirt GroupGary Dvorchak, CFAPhone: (323) 240-5796Email:
gary@blueshirtgroup.com
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