Enovix Corporation Stock Price, News & Analysis

Enovix Corporation (Nasdaq: ENVX) announced its inclusion in the Russell 2000® and 3000® Indexes, effective June 27, 2022. This decision reflects Enovix's market capitalization ranking among the 4,000 largest U.S. stocks as of May 6.

The Russell indexes, which manage approximately $12 trillion in assets, are commonly used by institutional investors. CFO Steffen Pietzke noted that this milestone enhances the company's visibility in the investment community, underscoring investors' confidence in Enovix's potential.

Enovix Corporation (Nasdaq: ENVX) announced the shipment of its first commercial cells from its Fremont factory. This milestone follows over 14 years of development and represents a significant step in scaling production while meeting customer demand. CEO Harrold Rust emphasized the importance of this achievement for the company and its clients, who can now leverage advanced battery technology to gain a competitive edge. The company is also working on its Gen-2 production lines to further enhance capacity.

Enovix Corporation (Nasdaq: ENVX) announced a significant breakthrough for its 0.27 Ah Electric Vehicle (EV) test cells, demonstrating fast charge capabilities. The cells can achieve 0-80% charge in just 5.2 minutes and over 98% in under 10 minutes. CEO Harrold Rust emphasized that this performance aligns with OEM roadmaps, aiding EV mass adoption. Additionally, Enovix cells surpassed 1,000 cycles with 93% capacity retention, suggesting a calendar life of over 10 years. The company is focused on advancements in silicon-anode technology, targeting the EV and energy storage markets.

Enovix Corporation (Nasdaq: ENVX), a leader in 3D Silicon™ Lithium-ion battery technology, will participate in three key investor conferences in June 2022. These events include the Credit Suisse 2022 Mobility Forum on June 21 (virtual), the J.P. Morgan 2022 Energy, Power, and Renewables Conference on June 22 in New York at 3:05 PM ET, and the Cantor Fitzgerald & Co. Technology ESG Conference on June 28 in Palo Alto, California. Webcasts of the presentations will be available on the company's website.

Enovix Corporation (Nasdaq: ENVX) announced the addition of multiple distributors to enhance its growth in Asia amid increasing demand from OEMs. The new distributors include Promate, a Taiwan-based electronics distributor, Jetronic, a China-based company, and Xiamen Holder Electronics Co. The company is also expanding its applications engineering team in Asia and establishing an R&D site in India to leverage local talent in key technical fields. Enovix aims to provide advanced battery solutions tailored to the unique requirements of the Asian market.

Enovix Corporation, a leader in advanced lithium-ion battery technology, announced its participation in several upcoming investor conferences. Key events include the B. Riley 22nd Annual Institutional Investor Conference on May 25, 2022, and Citi’s 2022 Lithium & Battery Virtual Day on May 26, 2022. Additional conferences include Craig-Hallum, Loop Capital Markets, and BofA Securities events throughout June. Enovix focuses on enhancing battery energy density and cycle life, targeting both mobile devices and electric vehicle markets.

Enovix Corporation, a leader in advanced 3D Silicon™ Lithium-ion batteries, announced that its Co-Founder and CTO, Ashok Lahiri, will present at the 12th International Advanced Automotive Battery Conference (AABC) Europe on June 14, 2022. His talk titled “Silicon-Anode Lithium-Ion Batteries for EV Applications” will highlight the company's recent achievements in electric vehicle battery technology. Enovix has surpassed 1,000 cycles with its silicon anode batteries while retaining 93% capacity. The company also launched Enovix Mobility, a business unit focusing on electric vehicles.

Enovix Corporation (Nasdaq: ENVX) has announced the placement of equipment orders for its next-generation manufacturing lines (Gen2) at a new facility (Fab-2) aimed at enhancing production efficiency. Gen2 is designed to be faster and occupy half the footprint of Gen1, increasing output significantly. The company plans to announce the Fab-2 location later this year, with additional Gen2 lines expected to support scaling into 2024. This initiative comes amidst high demand for Enovix's advanced lithium-ion battery technology.

Enovix Corporation (Nasdaq: ENVX) released its quarterly shareholder letter for Q1 2022, detailing advancements in technology, production, and commercial progress. The company announced the initiation of commercial production from Fab-1 and introduced BrakeFlow™ technology, enhancing lithium-ion battery safety. An initial order from a major consumer electronics company was confirmed, alongside plans for equipment procurement for the Gen2 production line at Fab-2. A conference call to discuss further developments is scheduled for today.