Ensurge Micropower ASA (OSE: ENSU, OTCQB: ENMPY), a leading provider of solid-state lithium microbatteries for a new generation of wearables, hearables and IoT devices, today announced the signing of a customer agreement with a Fortune 500 industrial company active in manufacturing capital equipment.
Under the terms of the agreement, Ensurge will deliver Ensurge solid-state microbatteries optimized for the customer's specific application. Ensurge expects the initial payment under the agreement in the near future.
"This agreement earmarks Ensurge's entry into the IoT and industrial applications," said Ensurge CEO Kevin Barber. "The customer will validate and benefit from several unique attributes only available with the Ensurge microbattery such as wider temperature range, long shelf life, faster charging, and high current draw besides higher density, charge cycles and safety."
IoT and industrial applications represent a significant opportunity for Ensurge with the proliferation of connected sensors and a strong movement towards rechargeable batteries in combination with energy harvesting. Besides IoT and industrial companies, Ensurge is actively partnering with energy harvesting companies to enable unique solutions that are more practical and environment- friendly and support the vision of a trillion connected devices.
Ensurge customer engagement continues to expand beyond hearing aids and wearables to include industrial IoT, medical devices and earbuds. Ensurge sees strong customer interest enabling new applications that are possible only with a combination of solid-state microbattery technology and form factor flexibility offered by Ensurge. These new applications have the potential to drive the total market opportunity well beyond existing markets.
Ensurge is Energizing Innovation(TM) with ultrathin, flexible, and safe energy storage solutions for wearable devices, connected sensors, and beyond. Ensurge's innovative solid-state lithium battery (SSLB) technology is uniquely positioned to enable the production of powerful, lightweight, and cost-effective rechargeable batteries for diverse applications. The company's state-of-the-art flexible electronics manufacturing facility, located in the heart of Silicon Valley, combines patented process technology and materials innovation with the scale of roll-to-roll production methods to bring the advantages of SSLB technology to established and expanding markets. Ensurge Micropower ASA ("Ensurge") is a publicly listed company in Norway with corporate headquarters in Oslo and global headquarters in San Jose, California.