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Enovix
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Short description

Developer of high-efficiency, silicon-based Li-ion batteries; formerly known as microAzure

Founded in 2006
Founded in

Company type Public Public (ENVX)
Company type

Industry Group energy & power

Sector energy storage

TRL Range 4-6
TRL 1 Basic research
TRL 2 Technology formulation
TRL 3 Applied research
TRL 4 Small scale prototype
TRL 5 Large scale prototype
TRL 6 Prototype system
TRL 7 Demonstration system
TRL 8 First of a kind commercial system
TRL 9 Full commercial application
TRL Range

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Headquarters Fremont, CA Fremont, United States
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Updated by Cleantech Group on 11/05/2024

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Date Partner Type
01/10/2024
Group14 Technologies Group14 Technologies
Enovix and Group14 will develop a silicon battery using 100% silicon anode material for Enovix's batteries.
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Confirmed by Group14 Technologies
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IPO INFORMATION

Date

07/15/2021

IPO status

Listed

IPO Type

SPAC

Amount

$385M

Initial shares

Ticker symbol

ENVX

Exchange listed

NASDAQ

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Description

Enovix to go public through a merger with blank-check firm Rodgers Silicon Valley Acquisition Corp in a deal that values the lithium-ion battery maker at $1.13 billion.

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Date Investors Type Amount
10/30/2024 Cantor Fitzgerald Cantor Fitzgerald (1)
Post-money valuation of
Underwritten public offering of 10,416,667 shares of common stock, aiming to raise $100M in gross proceeds to close November 1, 2024. Cantor Fitzgerald & Co. is acting as sole book-running manager. Proceeds will be used for general corporate purposes and to achieve high-volume manufacturing at its Fab2 facility in Penang, Malaysia.
 Follow-on Public Offering $100,000,000
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Enovix 3D Silicon Lithium-ion Rechargeable Battery

The Enovix 3D Silicon Lithium-ion Rechargeable Battery increases energy density from 1.5X to 3X for ultrathin wearable devices.This will provide continually improved battery performance for years to come in a wide range of mobile products, including smartphones, tablets, notebooks, and, eventually, automobiles.

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