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    ENSU   NO0010299068

ENSURGE MICROPOWER ASA

(ENSU)
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Thin Film Electronics : Thinfilm Announces First Multi-Cell Solid-State Battery

10/15/2020 | 02:00am EDT

Oslo, 15 October 2020

Thin Film Electronics ASA ("Thinfilm" or the "Company"), a developer of ultrathin, flexible, and safe energy storage solutions for wearable devices and connected sensors, today announced significant progress in device manufacturing and packaging innovation in support of its premium microbattery products based on solid-state lithium battery ("SSLB") technology.

To enable ultra-compact, energy-dense, milliamp-hour-class batteries, Thinfilm has successfully demonstrated the first multi-cell battery based on its SSLB technology. By stacking and encapsulating multiple layers of active cell materials deposited on Thinfilm's unique stainless steel substrate, Thinfilm can flexibly scale energy storage capacity within the compact footprint required in applications with constrained form factors.

Innovations in steel-substrate cell stacking are essential to creating solid-state battery products for hearing aids, earbuds, on-body sensors, and other products prioritizing size and shape. By overcoming packaging limitations that have previously prevented wider use of solid-state technology, Thinfilm is expanding the technology's many benefits to previously unaddressed markets.

Thinfilm's consolidated manufacturing environment in Silicon Valley continues to accelerate technology and product development cycles and has led to ongoing improvements in device yield, reliability, and performance of the critical materials responsible for energy storage and charge cycling. As a result, Thinfilm's battery development engineers have recently implemented and validated multiple process integration and materials advancements in the Company's on-site, fully functional, and scale-ready flexible electronics factory.

Based on continued positive feedback regarding the advantages of Thinfilm SSLB technology, the Company has broadened its engagements with leading manufacturers of wearable devices and connected sensors. Substantive conversations with a growing list of prospects have validated Thinfilm's stated market priorities and led to the incorporation of meaningful customer feedback in the Company's SSLB roadmap and technology development priorities. For example, recent success in multi-cell stacking reflects the prioritization of energy-dense batteries suitable for integration into form-factor-constrained applications such as hearing aids, earbuds, and medical devices. Improved cycling counts, compared to legacy lithium-ion batteries, address the long-term reliability needs of devices requiring daily charging. Enhanced output currents enable reliable Bluetooth LE transmit performance needed to communicate on-body vital sign sensor data to a companion smartphone.

Thinfilm has established a priority sampling program for customers and partners intending to incorporate SSLB products into their technology roadmaps. Following successful completion of standard characterization, reliability, and shipment acceptance testing, the Company plans to deliver alpha samples to lead customers.

Thinfilm is Energizing Innovation™ with ultrathin, flexible, and safe energy storage solutions for wearable devices, connected sensors, and beyond. Thinfilm'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. Thin Film Electronics ASA is a publicly listed company in Norway with corporate headquarters in Oslo and global headquarters in San Jose, California.

Contact:
Kevin Barber - Chief Executive Officer
E-mail: kevin.barber@thinfilmsystems.com

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

© OMX, source OMX

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Financials
Sales 2020 0,49 M - -
Net income 2020 -38,8 M - -
Net Debt 2020 20,4 M - -
P/E ratio 2020 -5,60x
Yield 2020 -
Capitalization 120 M 120 M -
EV / Sales 2019 48,5x
EV / Sales 2020 175x
Nbr of Employees 22
Free-Float 63,0%
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Number of Analysts 1
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Last Close Price 0,80 
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Managers and Directors
NameTitle
Kevin D. Barber Chief Executive Officer
David Williamson Chief Financial Officer
Morten Opstad Chairman
Arvind Kamath EVP-Technology Development & Manufacturing
Shannon Fogle VP-Global Human Resources & Administration
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