Ensurge Micropower ASA - Annual Report and Financial Statements 2023
The Board of Directors of Ensurge Micropower ASA ("Ensurge") approved the annual report and the annual financial statements for 2023 on 24 April 2024. The financial statements are consistent with the preliminary report disclosed on 20 February 2024. The auditor's report contains an emphasis of matter paragraph regarding going concern. The Board does not propose a dividend. The annual report and financial statements for 2023 are enclosed to this announcement and are also available at the Company's website www.ensurge.com (http://www.ensurge.com/).
Outlook Summary
· Ensurge is now transitioning into a crucial phase of its corporate journey, evolving from a purely research and development entity into initiating commercial operations.
· Our focus is to generate profits through direct revenue, licensing agreements and royalties.
· In the second quarter, we plan to escalate our operations to meet the growing demands of the fitness ring market and to start deliveries on existing orders.
· Moreover, we are poised to strategically capitalize on a unique opportunity crafted by four years of dedicated development and the exploitation of advanced roll-to-roll thin film stainless steel technologies, which culminated in the creation of the world’s first SSLB (Solid State Lithium Battery).
· Despite industry projections that SSLB technology would not emerge for several years, Ensurge has pioneered and mastered it, positioning ourselves to potentially lead the global market in battery technology for all electronics.
· The market for our products is expanding rapidly as the demand for advanced electronics escalates.
· Having solved the complex manufacturing challenges associated with SSLB, we are now able to expand our technology roadmap beyond the current generation. While maintaining our focus on immediate goals, we have commenced developing the subsequent phases of our strategy. These advancements promise significant enhancements in energy density and cost reductions, making the broader electronics market a feasible target for our technology.
About Ensurge Micropower
Ensurge is Energizing Innovation(TM) with the first ultrathin, flexible, reliable, and fundamentally safe solid-state lithium microbattery for the 1 to 100 milliampere-hour (mAh) class of wearable devices, connected sensors, and beyond. The innovative Ensurge Microbattery enables energy-dense rechargeable products that are ideal for form-factor-constrained applications including hearables (hearing aids and wireless headphones), digital and health wearables, sports and fitness devices, and IoT sensor solutions that use energy harvesting to power everyday things. The company's state-of-the-art manufacturing facility, located in the heart of Silicon Valley, combines patented process technology and materials innovation with the scale of roll-to-roll production methods to bring the advantages of Ensurge technology to established and expanding markets.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Contact
Investor Relations
E-mail: IR@ensurge.com
Lars Eikeland, CEO at Ensurge
E-mail: lars.eikeland@ensurge.com
*Attachments*
· 5493007QXMCG0WPKFC96-2023-12-31-en
· Ensurge_annual_2023