Ensurge Micropower ASA - Joint development and investment agreements with Corning Incorporated to advance solid-state microbattery technology

03 Nov 2025 06:00 CET

Oslo, Norway, 3 November 2025

Ensurge Micropower ASA ("Ensurge" or the "Company") today announces that the
Company has entered into a set of agreements with Corning Incorporated
("Corning"), one of the world's leading innovators in glass, ceramics, and
materials science, to jointly develop ultra-high performance solid-state
microbatteries based on Ensurge's platform.

Ensurge and Corning have entered into a joint development agreement to establish
a framework and joint development program for the two companies to collaborate
to integrate Corning's ribbon ceramic materials and process technology with
Ensurge's proven solid-state microbattery architecture (the "Joint Development
Agreement"). Together, Ensurge and Corning aim to deliver an ultra-high energy
density product line extension to commercialize batteries that power high-volume
consumer, medical, industrial, and defense applications.

Corning's contribution includes process and manufacturing excellence, alongside
deep materials science expertise. Pairing this competence with Ensurge's solid-
state microbattery platform strengthens Ensurge's path to scale, including
improved execution confidence, greater assurance in commercialization, and a
stronger foundation for long?term growth.

Further, Ensurge and Corning have entered into an investment agreement that
regulates the terms for investments by Corning in the Company (the "Investment
Agreement").

Under the terms of the Joint Development Agreement and Investment Agreement
(together, the "Agreements"), Corning shall provide certain engineering and
other Corning resources to Ensurge, the costs of which shall be convertible into
new shares in Ensurge, by set-off of the accounts receivable held by Corning for
the services performed. Following the end of each quarter, such costs shall be
converted to shares in Ensurge (the "Conversion Shares") at a pre-determined
price of NOK 1.11 per share ("Conversion Price"), which is calculated based on
the average closing price of the Company's shares over the 10 last trading days
prior to the execution of the Agreements.

The maximum monetary amount that may be converted to Conversion Shares, by set-
off, is USD 5 million.

Ensurge shall further issue certain warrants to Corning, on the terms of which
Corning shall have the option to invest up to USD 10 million in the Company by
exercise of such warrants (the "Warrants").

Each Warrant shall have an exercise price of NOK 1.50 per share (the "Exercise
Price"). The Warrants may be exercised in the two-year period following date of
approval by an extraordinary general meeting (the "EGM"), subject, however, to
the Joint Development Agreement or a subsequent commercial agreement between
Ensurge and Corning remaining in effect.

The Warrants will be granted for no charge. The Warrants will be registered in
the VPS but will not be admitted to trading on Euronext Oslo Børs.

The issue of Warrants and the authorization to issue Conversion Shares remain
subject to approval by the EGM, which Ensurge will convene shortly.

The Company hereby invites investors, analysts, and other stakeholders to a
webcast presentation hosted by Arctic Securities AS today at 14:00am CET
(08:00am ET).

Please use the following link to access the webcast:

https://teams.microsoft.com/l/meetup-
join/19%3ameeting_ZGEzYTdmZDgtZTk4Ni00ZDA4LWE1MDEtNTkwMDRiOTgwZGJl%40thread.v2/0
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334090732543%22%7d (https://eur02.safelinks.protection.outlook.com/ap/t-
59584e83/?url=https%3A%2F%2Fteams.microsoft.com%2Fl%2Fmeetup-
join%2F19%253ameeting_ZGEzYTdmZDgtZTk4Ni00ZDA4LWE1MDEtNTkwMDRiOTgwZGJl%2540threa
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About Ensurge Micropower:

Ensurge (www.ensurge.com) powers the future of AI-enabled devices with advanced
microbattery technology that delivers unmatched performance and safety. From its
base in San Jose, California, the Company's team of battery specialists have
pioneered thin-film batteries produced on high-precision roll-to-roll production
processes. These innovations enable new possibilities in form-factor-constrained
applications across consumer, medical, and industrial markets. Ensurge partners
with leading global customers to accelerate their products to market and is
listed on the Oslo Stock Exchange. For more news and information on Ensurge,
please visit https://www.ensurge.com/news-room.

For more information, please contact:
Shauna McIntyre - Chief Executive Officer
E- mail: shauna.mcintyre@ensurge.com (mailto:shauna.mcintyre@ensurge.com).

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation (MAR) and is subject to the disclosure requirements
pursuant to MAR article 17 and section 5 -12 of the Norwegian Securities Trading
Act. This stock exchange release was published by Ståle Bjørnstad, VP, Corporate
Development and IR, on 3 November 2025 at 06:00 CEST.

More information:
Access the news on Oslo Bors NewsWeb site