Business
Enovix Expands Pan-Asian Distribution Coverage
FREMONT, Calif., July 28, 2022 (GLOBE NEWSWIRE) -- Enovix Corporation (“Enovix”) (Nasdaq: ENVX), the leader in the design and manufacture of next generation
About this update from Enovix Corporation
[{"type":"text","content":"FREMONT, Calif., July 28, 2022 (GLOBE NEWSWIRE) -- Enovix Corporation (“Enovix”) (Nasdaq: ENVX), the leader in the design and manufacture of next generation 3D Silicon™ Lithium-ion batteries, today announced an agreement with EDOM Technology CO., LTD (“EDOM”) (TWSE: 3048), a leading electronics distributor based in Taiwan, to support pan-Asian shipping, distribution and market expansion. Founded in 1996, EDOM has 32 sales offices across their subsidiary network in China, Singapore, Thailand, Vietnam, India, Malaysia, South Korea and Japan. EDOM is a leader in distribution solutions, providing best-in-class services throughout Asia. “Our collaboration with EDOM will accelerate our growth and support our customers across Asia,” said Cam Dales, GM and Chief Commercial Officer at Enovix. “EDOM’s vast distribution network will enable us to add additional experts as part of our extended team, building an even stronger foundation to serve our customers and deliver our advanced, high-energy density batteries globally.” EDOM has more than 160 engineers that work directly with customers to design leading-edge, consumer-based products. The team includes technical experts with in-depth knowledge of the complexities of powering consumer electronics, who will work with targeted customers in Asia for Enovix. “We are excited about the growing battery market and are pleased to collaborate with Enovix,” said Wayne Tseng, Chairman of EDOM Technology. “We believe their innovative 3D Silicon™ Lithium-ion batteries will deliver reliable and high-quality energy storage solutions, making it a good fit in the expanding wearables, 5G/AI, AR and Electric Vehicle (EV) markets. We look forward to working with Enovix and our customers in driving business growth in the future.” Enovix has been building its presence in Asia through direct hires and distributor agreements. The agreement with EDOM further validates the company’s readiness to expand into the global consumer electronic market. About EnovixEnovix is the leader in advanced silicon-anode lithium-ion battery development and production. The company's proprietary 3D cell architecture increases energy density and maintains high cycle life. Enovix is building an advanced silicon-anode lithium-ion battery production facility in the U.S. for volume production. The company's initial goal is to provide design...