Ensurge Micropower (ENSU)

Currency in

Last close As at 03/02/2023

0.00 (0.00%)

Market capitalisation

Ensurge Micropower’s solid-state lithium battery technology combines advanced energy cell design with proprietary materials and manufacturing innovation to produce thin, flexible batteries that can power safer and more capable wearable devices and connected sensors.

Ensurge has already signed agreements with five customers that are active in the industrial, digital health, medical hearables and wearables markets. Having demonstrated working microbatteries in H221, the company is preparing to ship samples to these customers ‘in the short term’ and to start deliveries of microbatteries for commercial use by the digital health customer in Q422. In preparation for this volume ramp-up, Ensurge is adding equipment to its existing R2R facility, which was previously used to manufacture millions of anti-theft tags, so it is optimised for microbattery production.

Share Price Performance

Financials

EBITDA losses, excluding share-based payments, widened by $3.3m year-on-year to $14.6m in FY21. This reflected higher payroll and premises costs as the company got ready for microbattery production. In February 2022, Ensurge completed a private placement and share allocation, raising approximately NOK100m gross ($11.3m) and issued warrants potentially raising up to NOK100m. Management intends the recent fund-raising programme to provide sufficient funds to give adequate time to demonstrate a series of technology and market development milestones but notes a potential funding gap in Q322.

Thematics

Digital Marketing and Internet Media Technology Platform

TMT

MediaWatch – January 2023

Consumer

IPO apocalypse

TMT

ESG, moving beyond the box tick

TMT

Direct tech investors

Subscribe to Edison

Get access to the very latest content matched to your personal investment style.

Sign up for free