Ensurge Micropower ASA - Financial Report - 3Q 2022

16 Nov 2022 08:00 CET

Ensurge Micropower ASA (OSE: ENSU,and OTCIQ: ENMPY), today released its interim
report for the 3Q 2022 and the condensed consolidated financial statements as of
30 September 2022 for the Ensurge Micropower ASA group.

Report highlights include:

*
Ensurge announced funding of approximately NOK 55 million in a private placement
, split into
2 tranches
*
Shipped high performing unit cells samples to three strategic partners, one of
which is a multinational consumer devices company and two are in battery
product and component
businesses
* Current strategic partners represent more than USD 1bn in revenue potential
* Shipped first Ensurge packaged battery to one of our hearing aid customers
*
Shipped packaged battery to innovative digital health device company with Q1 202
3 forecasted demand
*
Engaged in contract negotiations with a global leader in the information technol
ogy market
* Anticipate strategic partners to start funding co-development
efforts during Q1 2023
*
Strong increase in the production rate of battery cells during Q3 2022 andexpect
ed to increase further
during Q4 2022 and 2023
* Actively engaging multiple US investment banks to raise equity into the
California subsidiary to fund capital investment and increasing the San Jose
facility's manufacturing
capacity to meet customer demand in 2024

CEO Kevin Barber will discuss the Company's progress via web conference on
Wednesday 16 November 2022 at 8:00am Central European Time. At the time of the
event, the conference can be accessed
at https://channel.royalcast.com/landingpage/hegnarmedia/20221115_3/.

Following the event, a recording will be available on the Company's investor
relations website at https://ensurge.com/investor-relations/presentations-
webcasts/ (https://ensurge.com/investor-relations/presentations-%20webcasts/).

The 3Q 2022 financial report and the presentation used for the webcast are
attached.

About Ensurge Micropower
Ensurge is Energizing Innovation(TM) with the first ultrathin, flexible,
reliable, and fundamentally safe solid-state lithium microbattery for the 1-100
milliampere-hour (mAh) class of wearable devices, connected sensors, and beyond.
The innovative Ensurge Microbattery enables energy-dense rechargeable products
that are ideal for form-factor-constrained applications including hearables
(hearing aids and wireless headphones), digital and health wearables, sports and
fitness devices, and IoT sensor solutions that use energy harvesting to power
everyday things. The company's state-of-the-art 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 Ensurge 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.

Contact

Ståle Bjørnstad - Investor Relations

E-mail: stale.bjornstad@ensurge.com

Phone: +47 99 16 76 72

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

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

More information:
Access the news on Oslo Bors NewsWeb site

575855_Ensurge Q3 Report 221116.pdf
575855_Ensurge_Q3_2022_Financial_Report.pdf