Enovix Signs Agreement to Deliver High-Performance Batteries for Mixed Reality Headset
Posted: Jun 25, 2024
- Enovix Corporation (Nasdaq: ENVX) signed an agreement with a California-based technology company for silicon batteries for a mixed reality headset - Enovix will receive an immediate payment for tooling and additional payments for delivering samples and production - The market for virtual reality and augmented reality headsets is growing, creating a demand for better battery technology - Enovix's high-performance batteries use a unique architecture to deliver leading energy density - The agreement validates Enovix's focus on smartphone product requirements and positions the company for success in adjacent markets like IoT - Enovix (Nasdaq: ENVX) signed an agreement to provide silicon batteries for a mixed reality headset with a leading California-based technology company. - Enovix will receive payments for tooling support and delivery of sample and production quantities. - Mixed reality headsets require better battery technology due to the need for uninterrupted usage of display, processor, memory, and connectivity. - Global shipments of virtual reality and augmented reality headsets are expected to grow significantly. - Enovix's high-performance batteries use a proprietary architecture and manufacturing process for leading energy density. - Enovix aims to deliver high-performance batteries for various technology products to improve user experiences. - The company is headquartered in Silicon Valley with facilities in India, Korea, and Malaysia.
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