Ensurge Micropower ASA - Financial Report - 4Q 2022

27 Feb 2023 08:00 CET

Ensurge Micropower ASA(OSE:ENSU,and OTCIQ: ENMPY), today released its interim
report for the 4Q 2022 and the condensed consolidated financial statements as of
31 December 2022 for the Ensurge Micropower ASA group.

Report highlights include:

* Mark Newman, currently an Ensurge board director, replaced Kevin Barber as
the interim CEO and has presented the new management action plan to take the
company into the commercialization phase
*  Received first production order for 150,000 Ensurge microbatteries from the
lead customer, an innovator in the digital health market
*  Evaluation report of Ensurge microbattery core cells from a strategic
partner, a leader in consumer electronics, matched Ensurge's capacity and
energy density calculations
*  Presented technical data at the TechBlick conference "Solid-State
Batteries: Innovations, Promising Startups, and Future Roadmap,"
demonstrating Ensurge microbattery performance including energy density,
cycling and charging speed
*  Production line converted to the lead production customer's target form
factor and performance requirements
*  Continued strong customer interest with 10 new qualified customers added to
the pipeline
*  New management focused on converting the existing pipeline into paying
customers including pushing customers and partners to pay for development
work
*  A renewed cost cutting exercise will be implemented, targeting 30%
reduction in cash burn rate

Interim CEO Mark Newman will discuss the Company's progress via web conference
on Thursday, 9 March 2023 at 12:00pm (noon) Central European Time. Ensurge
Micropower ASA has delayed the web conference in light of the recent
organization change.

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 (mailto:stale.bjornstad@ensurge.com)
Phone: +47 99 16 76 72 Kevin Barber -

Chief Executive Officer E-mail: Mark.Newman@Ensurge.com


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

More information:
Access the news on Oslo Bors NewsWeb site

583599_Ensurge 22Q4 Presentation 2023 Feb 27.pdf
583599_Ensurge_Q4_2022.pdf