Ensurge partners with Corning on solid-state microbattery advancement

Ensurge Micropower ASA announced joint development and investment agreements with Corning Incorporated to advance its solid-state microbattery technology. The joint development agreement establishes a framework for integrating Corning's ribbon ceramic materials and process technology with Ensurge's microbattery architecture, aiming for ultra-high energy density products for consumer, medical, industrial, and defense applications. Corning will contribute process and manufacturing excellence alongside deep materials science expertise.

Under the investment agreement, Corning will provide engineering resources to Ensurge, with costs up to $5 million convertible into new Ensurge shares at NOK 1.11 per share. Additionally, Ensurge will issue warrants to Corning, granting an option to invest up to $10 million in the company at an exercise price of NOK 1.50 per share. These warrants are exercisable for two years following EGM approval, contingent on the joint development agreement remaining active.

The conversion of costs into shares and the issue of warrants are subject to approval by an extraordinary general meeting (EGM), which Ensurge will convene shortly. The company is hosting a webcast presentation today at 14:00 CET to discuss the agreements.