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Enovix to Showcase Award-Winning Battery Technology at CES 2022

Enovix 3D Silicon ™ lithium-ion battery

The Enovix battery cell was awarded the CES® Innovation Prize 2022

The Enovix battery cell won the CES® 2022 Innovation Awards

The Enovix battery cell won the CES® 2022 Innovation Awards

FREMONT, Calif., December 20, 2021 (GLOBE NEWSWIRE) – Enovix Corporation (Enovix) (Nasdaq: ENVX, ENVXW), a leader in the design and manufacture of next-generation 3D Silicon ™ lithium-ion batteries, today announced its participation in Pepcom’s Digital Experience! on January 4, 2022 and the Consumer Electronics Show (CES) January 5 to 6, 2022 in Las Vegas.

The Enovix battery cell was named a Winner of the CES® 2022 Innovation Awards. The CES Innovation Awards program, owned and produced by the Consumer Technology Association (CTA) ®, is an annual competition that honors outstanding design and engineering in 27 consumer technology product categories. An elite jury of industry experts evaluated the entries on the basis of innovation, technology and functionality, aesthetics and design. This year’s awards program recorded a record number of over 1,800 submissions.

“We are honored that the CTA has recognized our batteries as a game changer in consumer electronics,” said Harrold Rust, president, chief executive officer and co-founder of Enovix. “Our battery cells are designed to deliver up to twice the energy density of standard lithium-ion batteries in several categories of consumer electronics products. An increased energy density is essential to support computationally intensive applications in premium consumer electronics such as wearables, cell phones and laptop / tablet platforms. “

Company executives will demonstrate how Enovix batteries can dramatically increase energy density while using less bulk than batteries from leading consumer brands, off-the-shelf laptops, wearables and mobile devices.

“What makes this massive increase in energy density possible is our novel 3D cell architecture, which is completely reinventing battery construction and throwing the more than a hundred year old wound design overboard,” said Ashok Lahiri, chief technology officer and co-founder of Enovix. “We invented a precisely laser-generated 3D architecture that enables more efficient use of the battery volume and can accommodate a 100 percent active silicon anode. Silicon has more than twice as much capacity as conventional graphite. Coupled together – our new cell design plus our 100% active silicon anode – this is the most significant advance in battery design in our lifetime. “

To schedule a meeting with Enovix executives at CES, please contact sales@enovix.com.

About Enovix
Enovix is a leader in the development and production of advanced silicon anode lithium-ion batteries. The company’s proprietary 3D cell architecture increases the energy density and ensures a long cycle life. Enovix is building a state-of-the-art production facility for lithium-ion batteries with silicon anodes for mass production in the USA. The company’s original goal is to provide high-energy battery designers of best-in-class mobile device designers so they can create more innovative and effective wearable products. Enovix is also developing its 3D cell technology and manufacturing process for the electric vehicle and energy storage markets to enable widespread use of renewable energy. For more information, see www.enovix.com.

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 significant risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operational performance. In some cases, you can identify forward-looking statements by the words “believe”, “will”, “may”, “estimate”, “continue”, “anticipate”, “intend”, “should”, “plan”, “Expect”, “predict”, “could”, “potentially”, “aim”, “project”, “believe”, “continue” or negate these terms or similar expressions. Enovix’s performance and manufacturing capacity, our ability to minimize battery costs, our production and commercialization schedule, future product development and roadmap, and future demand for our Actual results could differ materially from these forward-looking statements on the Securities and Exchange due to certain risks and uncertainties Commission (the “SEC”) dated November 15, 2021 and other documents we have filed or will file with the SEC. All forward-looking statements made by us in this press release speak only as of the date of their publication and subsequent events could cause these expectations to change. We disclaim any obligation to update or change these forward-looking statements in the future, whether as a result of new information, future events or for any other reason, unless this is required by law.

For investor and media inquiries, please contact:
Enovix Corporation
Charles Anderson
Phone: +1 (612) 229-9729
E-mail: canderson@enovix.com

or

The blueshirt group
Gary Dvorchak, CFA
Phone: (323) 240-5796
E-mail: gary@blueshirtgroup.com

For media inquiries, please contact:
Enovix Corporation
Kristin Atkins
Phone: +1 (650) 815-6934
E-mail: katkins@enovix.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/742e05a0-d512-4ebf-b926-d4fb5a336a69