Enovix develops advanced lithium-ion batteries that incorporate a 100% active silicon anode using a patented 3D cell architecture to increase energy density while maintaining high cycle life. The company has also developed proprietary roll-to-stack production tools that 'drop in' to existing lithium-ion manufacturing lines and can raise MWh capacity by about 30%. Enovix completed construction and is installing equipment at its first production facility to begin commercial delivery in 2021. To date the company has raised over $225 million in venture, strategic and private funding. Enovix has been awarded more than 90 patents and has over 50 additional applications pending to build sustainable enterprise value and competitive barriers. Eclipse Ventures recently made a significant investment and its partner Greg Reichow joined Enovix's board to counsel on scaling production operations. Enovix has developed a lithium‑ion battery that uses a 100% active silicon anode within a patented 3D cell architecture to raise energy density while maintaining high cycle life. The company also designs production tools that can 'drop in' to existing roll‑to‑roll battery lines and claim to raise MWh capacity by about 30%. Funds from its 2020 raise are earmarked to build, equip and staff its first U.S. production facility in Fremont, California, aimed at mass‑market applications. Enovix is working under contract with several category‑leading customers and recently signed a commercial supply agreement, with plans to begin commercial delivery of its 3D silicon lithium‑ion battery in 2021. The company highlights strategic relationships with Intel and Qualcomm and reports 81 awarded patents with 49 applications pending. As of the announced raise, total funding stands at over $220 million. Enovix has developed a lithium‑ion battery that uses a 100% active silicon anode and a patented 3D cell architecture to boost energy density while maintaining high cycle life. The company intends to complete its Fremont, California facility to produce and commercialize its 3D silicon lithium‑ion batteries, with initial deliveries expected in late 2020 and a planned run‑rate of 8 million units per year as it ramps in 2021–2022. Enovix has agreements with four category‑leading customers to develop and produce silicon‑anode batteries for portable electronic devices, representing an anticipated $250 million in annual revenue once fully ramped. It is also working with leading international automobile manufacturers to adapt its technology for the electric vehicle market. The company is backed by strategic relationships with Intel, Qualcomm and Cypress and has previously raised over $200 million in venture, strategic and private funding. Recent financing includes $45 million secured from a mix of a major new strategic investor, current investors and non‑dilutive customer funding.

Total raised

$65M

Funding rounds

3

Latest round

Equity

Latest activity

Sep 2020