Enovix Announces Design Approval of Its Next-Generation Autoline

About this update from Enovix Corporation

[{"type":"text","content":"FREMONT, Calif., March 09, 2023 (GLOBE NEWSWIRE) -- Enovix Corporation (“Enovix”) (Nasdaq: ENVX), an advanced silicon battery company, today announced that its Board of Directors approved the design of its next-generation manufacturing line (“Gen2 Autoline”), a key milestone in its journey to scale. The Gen2 Autoline is anticipated to increase battery manufacturing throughput by over 10x compared to the current throughput of the Gen1 line. The principal enhancements in the Gen2 Autoline involve increased levels of automation, parallelism, and in-line metrology. T.J. Rodgers, Enovix Executive Chairman, said, “I am pleased to report that a subcommittee of our board, which includes me and Greg Reichow, who built and ran Tesla’s auto assembly plant in Fremont, California, approved the purchase for the Gen2 Autoline design ahead of our target date of March 15. The approval of the Gen2 equipment purchase was contingent on the successful completion of proof of concept (“POC”) hardware modules that demonstrated basic functionality at each step in our process prior to Gen2 Autoline construction. This approval paves the way for our Gen2 Autoline equipment vendors to finalize builds in order to hit our next major milestone of factory acceptance testing (“FAT”), during which a team of our engineers will verify full autoline functionality at the vendor’s factory prior to the delivery of the equipment to Enovix. As I mentioned in previous communications, we intend to share our progress as milestones are achieved.” Rodgers continued, “Just as important, the manufacturing engineering team under our new COO, Ajay Marathe, has completed the arduous requirements of our Equipment Procurement Review – Process Change Review (EPR-PCR) process, a spec system which was perfected at Cypress Semiconductor on four generations of silicon wafer fabs in the U.S, nine assembly and test autolines in the Philippines, and 16 autolines at SunPower’s Philippines and Malaysia plants that produce SunPower’s world-class IBC solar cell. These EPR-PCR specs require man-years of work to be done properly and were not fully completed in our Fab-1 Gen1 line, partly due to Covid-mandated travel restrictions.” Dr. Raj Talluri, President and CEO of Enovix, said, “Receiving Gen2 Autoline design approval is a testament to the hard work of the team and a major step forward in our...

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