PBW - Why Battery Company Enovix Stock Is Surging Today | Benzinga
Enovix Corporation (NASDAQ:ENVX) shares are jumping after the company signed a deal to supply silicon batteries and packs for mixed reality headsets.
As per the terms, Enovix expects to receive an initial one-time payment for tooling to facilitate battery pack dimensions and subsequent payments for supplying both sample and production quantities. The financial terms were not disclosed.
Enovix’s high-performance batteries feature a proprietary architecture and manufacturing process that replaces graphite with a 100% active silicon anode, resulting in top-tier energy density.
Dr. Raj Talluri, President and CEO of Enovix, stated, “This agreement with a leading customer ...