Ensurge Micropower Asa Stock Price, News & Analysis

Ensurge Micropower ASA announced the revised proposal by the Nomination Committee for the Extraordinary General Meeting scheduled for March 14, 2023. This includes updates to agenda items 5 and 6 from the earlier Notice dated February 21, 2023. Additionally, an amended version of the Company’s 2022 Subscription Rights Incentive Plan is provided, showcasing revisions to the original proposal. Ensurge, which specializes in ultrathin and safe energy storage solutions, aims to leverage its solid-state lithium battery technology for a range of applications. The Company is publicly listed in Norway with its global headquarters in San Jose, California.

Interim CEO Mark Newman will present the Company's progress in a web conference on Thursday, March 9, 2023, at 12:00 PM Central European Time. Following the event, a recording will be available on the Company's investor relations website. Ensurge Micropower specializes in ultrathin, flexible solid-state lithium microbatteries aimed at wearable devices, IoT sensors, and similar applications. Their manufacturing facility in Silicon Valley integrates patented process technology with roll-to-roll production, enhancing their market position. Ensurge is publicly listed in Norway, with headquarters in Oslo and San Jose.

Ensurge Micropower (OTCQX: ENMPY) recently announced at the TechBlick event that its innovative solid-state lithium microbattery technology surpasses traditional lithium-ion alternatives. It boasts twice the energy density and three times the charging speed, addressing limitations faced by current microbatteries. Key highlights include the microbattery's impressive performance metrics, achieving 700+ Watt-Hours per Liter in a compact design and 80% charging in under 20 minutes. With scalable manufacturing processes and high-density cell-stacking capabilities, Ensurge aims to fill a significant market gap for wearables and hearables by providing ultra-thin, efficient, and customizable battery solutions.

Ensurge Micropower ASA (OTCIQ: ENMPY) released its 4Q 2022 interim report, announcing key updates. Mark Newman has replaced Kevin Barber as interim CEO, presenting a management plan aimed at commercialization. The company secured its first production order for 150,000 microbatteries from a digital health innovator. An evaluation from a consumer electronics partner confirmed Ensurge’s energy density metrics. The production line is now adjusted to meet customer specifications. There is heightened interest with 10 new qualified customers added, and a new management focus on converting this pipeline into revenue, alongside a 30% reduction target for cash burn.

Ensurge Micropower ASA has updated its financial calendar for 2023 and 2022. The company announced that its Q4 2022 Quarterly Report will now be published on February 27, 2023, changing from the previously communicated date of February 23, 2023. This update ensures that stakeholders receive timely financial information.

The announcement aligns with the regulatory requirements outlined in the Euronext Oslo Børs Rule Book II, confirming the company’s commitment to transparency in its financial reporting.

An Extraordinary General Meeting for Ensurge Micropower ASA is scheduled for 14 March 2023 at 9:00 CET as an electronic event. The notice includes attendance forms and online participation guidelines available in both English and Norwegian. Ensurge Micropower specializes in ultrathin, flexible, and safe energy storage solutions, particularly solid-state lithium batteries for wearables and sensors. The company operates a state-of-the-art manufacturing facility in Silicon Valley, leveraging innovative technologies and roll-to-roll production methods to support various market needs. For inquiries, investors can contact Ståle Bjørnstad via email or phone.

Ensurge Micropower ASA announced the successful completion of a private placement, raising approximately NOK 50 million at NOK 0.10 per share. The funds will support the company's operations and development. This placement is contingent upon approval from an Extraordinary General Meeting (EGM) set for around 9 March 2023, where a share capital reduction will be discussed to align the par value with the subscription price. The Offer Shares will be tradable on Oslo Børs post-approval of a listing prospectus by the Financial Supervisory Authority of Norway (FSA). The company has secured interim financing to bridge to the EGM.

On February 9, 2023, Ensurge Micropower ASA announced plans for a private placement of shares aiming to raise between NOK 40 to 60 million. The share subscription price will be determined through an accelerated book building process, pending approval at an Extraordinary General Meeting (EGM) around March 8, 2023. Notably, the subscription price may be set below the current par value of NOK 0.99, necessitating a proposed reduction of the par value to facilitate the placement. The company intends to utilize the funds for general corporate purposes as outlined in previous updates. Shareholders can express interest in participating until February 14, 2023.

Ensurge Micropower ASA announced significant organizational changes, with Mark Newman set to replace Kevin Barber as Interim CEO starting February 8, 2023. Mark brings extensive experience in batteries and electric vehicles, having served on the Board since May 2022. The company reported a production order for 150,000 units of its solid-state lithium micro-batteries and is in discussions with potential strategic partners. Ensurge plans to reduce costs and raise funds through its US subsidiary to enhance its operations and market presence. The appointment of an interim CEO is temporary; a permanent CEO search is underway.