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Enovix Announces Its First High-Volume Production Facility Will Be Located in Malaysia
FREMONT, Calif., March 09, 2023 (GLOBE NEWSWIRE) -- Enovix Corporation (“Enovix”) (Nasdaq: ENVX), an advanced silicon battery company, today announced its
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 its first high-volume manufacturing facility (“Fab-2”) will be located in Penang, Malaysia. Dr. Raj Talluri, President and CEO of Enovix, said, “We’re pleased to announce that we’ve chosen Malaysia as our Fab-2 location, joining an established and exciting ecosystem of innovative high-tech manufacturing companies in the region. We’ll have access to the country’s deep pool of technical talent, business-friendly environment, and close proximity to our customers’ manufacturing facilities, and our equipment and materials vendors.” Fab2 will support the company’s growth and scale up. Enovix expects to begin production in 2024. Ajay Marathe, COO of Enovix, said, “With more than three decades of personally working closely with the Malaysian Government authorities such as MIDA; Northern Corridor and Invest Penang, and having successfully built and run several large factories for companies such as AMD (recognized as one of the eight Samurai’s of the Penang Island) and Lumileds, choosing Malaysia was an easy decision to make. The rich talent of semiconductor-trained engineers of various disciplines and manufacturing excellence, particularly in the Penang region, makes it an ideal location to set up our first high-volume operation for our innovative batteries.” About EnovixEnovix is on a mission to power the technologies of the future. Everything from IoT, mobile and computing devices, to the vehicle you drive, needs a better battery. The company’s disruptive architecture enables a battery with high energy density and capacity without compromising safety. Enovix is scaling its silicon-anode, lithium-ion battery manufacturing capabilities to meet customer demand. For more information visit www.enovix.com and follow us on LinkedIn. Forward Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, about us and our industry that involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statemen...