Ensurge Micropower ASA - Annual Report and Financial Statements 2024
Rhea-AI Summary
Ensurge Micropower ASA (ENMPY) has released its 2024 annual report and financial statements, approved by the Board of Directors on April 11, 2025. The report aligns with the preliminary figures disclosed on February 19, 2025, and includes an auditor's emphasis on going concern. No dividend was proposed.
The company reports significant technical progress with their ultrathin, flexible solid-state lithium microbattery technology, having successfully completed testing of their 11-layer battery. Ensurge is now focusing on developing higher-capacity variants and scaling up manufacturing capabilities.
The company maintains a strong commercial pipeline with over 100 prospects across various market segments. Initial product shipments are anticipated in 2025, pending product qualification and certification. Their microbatteries, designed for the 1-100 mAh class, target applications in hearables, wearables, sports devices, and IoT sensor solutions.
Positive
- Successfully completed testing of 11-layer battery technology
- Resolution of all major technical hurdles
- Strong commercial pipeline with over 100 prospects
- Commercial shipments expected to begin in 2025
Negative
- Auditor's report includes emphasis of matter regarding going concern
- No dividend proposed for shareholders
The Board of Directors of Ensurge Micropower ASA ("Ensurge") approved the annual report and the annual financial statements for 2024 on 11 April 2025. The financial statements are consistent with the preliminary report disclosed on 19 February 2025. The auditor's report contains an emphasis of matter paragraph regarding going concern. The Board does not propose a dividend. The annual report and financial statements for 2024 are enclosed to this announcement and are also available at the Company's website www.ensurge.com (http://www.ensurge.com/).
Outlook Summary
- After successful completion of testing of the 11-layer battery, Ensurge is accelerating development of higher-capacity variants.
- All major technical hurdles now resolved – next phase will focus on scaling up designs and manufacturing capacity.
- Sample batteries will undergo thorough evaluation by our partners and customers.
- Commercial pipeline extends to more than 100 prospects across our targeted market segments and with a good geographical mix
- Initial shipments are expected in 2025, once product qualification and certification are complete.
About Ensurge Micropower
Ensurge is Energizing Innovation(TM) with the first ultrathin, flexible, reliable, and fundamentally safe solid-state lithium microbattery for the 1 to 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. This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Contact Investor Relations
E-mail: IR@ensurge.com
Lars Eikeland, CEO at Ensurge E-mail:
lars.eikeland@ensurge.com
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