Enovix Corporation announced that it has entered into a Master Service Agreement (?MSA?) with YBS International Berhad (?YBS?) (MESDAQ: YBS:KLS), a Malaysia-based investment holding company with segments including electronic manufacturing and assembly, high-precision engineering, and precision machining and stamping, among others. The agreement secures $70 million of non-dilutive funding to support Enovix?s Fab2 site in Penang, Malaysia, and its first Gen2 high-volume manufacturing line. As part of the MSA, YBS, under the direction of Enovix, will provide the building and capital for equipment and labor for Fab2 and the Gen2 Autoline 1. Enovixannounced earlier this year that it established Enovix Malaysia Sdn.

Bhd. (?Enovix Malaysia?). In addition, Enovix has hired more than 30 people in Malaysia including the two leaders announced in March.

Enovix Malaysia?s Fab2 site is located in Penang Science Park.