ENVX Enovix Corporation

Enovix Corporation (“Enovix”) (Nasdaq: ENVX), a Silicon Valley high-performance battery manufacturing company, today announced the successful completion of Site Acceptance Testing (SAT) for its High Volume Manufacturing (HVM) line at Fab2 in Malaysia. This milestone, achieved in late December, is a critical step toward enabling Fab2 to begin mass production in 2025, supporting the company’s strategy to meet growing global demand for high energy density battery solutions.

SAT validates the readiness of the manufacturing equipment through comprehensive testing. It follows the Factory Acceptance Testing (FAT) milestone completed earlier in 2024, marking the final stage before commercial-scale production begins. Together, FAT and SAT ensure that Fab2 is fully equipped to produce high-performance silicon batteries at volume, meeting the stringent demands of Enovix’s global customers.

Enovix Chief Operating Officer Ajay Marathe commented, “Completing SAT is a significant achievement for Enovix, as it demonstrates our ability to commercialize our patented manufacturing process at scale. With batteries already produced during our testing phases and delivered to customers as early samples, we are now laser focused on transitioning to full-scale production. Our priorities include ensuring smooth customer qualifications for our facilities, optimizing manufacturing workflows, and minimizing the time it takes to bring customized battery solutions to multiple end markets.”

Enovix Chief Executive Officer Dr. Raj Talluri added, “The completion of SAT represents a turning point for Fab2 and for Enovix. It reflects the dedication of our team and our commitment to operational excellence. With significant customer interest in our cutting-edge technology, Fab2 will enable us to meet large-scale production demands while maintaining the highest quality standards. This milestone is a testament to our vision of powering the next generation of devices with battery solutions that redefine performance and reliability.”

About Enovix

Enovix is on a mission to deliver high-performance batteries to unlock the full potential of technology products. Every electronic appliance – for IoT, mobile, and computing – needs a better battery. Enovix is partnering with OEMs worldwide to usher in a new era of user experiences. Our innovative, materials-agnostic battery architecture creates higher-performing batteries without compromising safety and keeps us on the cutting-edge.

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: Robert Lahey Email: ir@enovix.com