FREMONT, Calif., Oct. 13, 2026 (GLOBE NEWSWIRE) — E ovix Co po atio (“E ovix” o the “Compa y,” Nasdaq: ENVX), a develope a d ma ufactu e of adva ced lithium-io batte ies, today a ou ced a pu chase o de f om a multi atio al p ovide of dual-use d o e systems. The i itial o de is fo 100,000 batte y u its, with delive ies scheduled i the fi st half of 2027 as the custome scales its use of E ovix cells ma ufactu ed at the Compa y’s TAA-complia t, milita y-qualified facility i South Ko ea. Followi g successful i itial deployme t, the custome is expected to place follow-o o de s fo the p og am i the seco d half of 2027 a d beyo d.
“D o e make s eed high-pe fo ma ce batte ies f om a qualified, o -Chi ese sou ce ow, a d this o de shows E ovix ca delive ,” said Steve Bakos, Chief Reve ue Office a d Ge e al Ma age of E ovix. “It co fi ms that ou tech ology pe fo ms i dema di g applicatio s a d that ou TAA-complia t, i -house ma ufactu i g has eal value to custome s who eed a secu e sou ce of supply.”
The o de moves o e oppo tu ity f om the app oximately $216 millio d o e, defe se a d i dust ial pipeli e E ovix epo ted o Octobe 12, 2026 i to backlog, a d is amo g the Q4’26 pu chase o de s efe e ced i that elease. The Compa y expects additio al pipeli e oppo tu ities to co ve t i to pu chase o de s i the comi g qua te s.
E ovix develops a d ma ufactu es adva ced lithium-io batte ies, i cludi g p op ieta y silico -a ode a chitectu es fo sma tpho es, sma t eyewea , defe se, i dust ial a d eme gi g edge-AI applicatio s. Its p op ieta y silico -a ode batte y a chitectu e e ables highe e e gy de sity a d pe fo ma ce i space-co st ai ed devices while mai tai i g safety a d eliability, suppo ti g comme cializatio ac oss co sume a d i dust ial ma kets.
E ovix is headqua te ed i Silico Valley with facilities i I dia, South Ko ea a d Malaysia, se vi g custome s globally. Fo mo e i fo matio visit https://e ovix.com a d follow us o Li kedI .
This p ess elease co tai s fo wa d-looki g stateme ts withi the mea i g of the P ivate Secu ities Litigatio Refo m Act of 1995. Fo wa d-looki g stateme ts elate to futu e eve ts o ou futu e fi a cial o ope ati g pe fo ma ce a d a e ide tified by wo ds such as a ticipate, believe, could, estimate, expect, i te d, may, might, pla , possible, pote tial, p edict, p oject, should, will, would a d simila exp essio s. Fo wa d-looki g stateme ts i this p ess elease i clude, but a e ot limited to, stateme ts ega di g: the a ou ced pu chase o de , i cludi g the qua tity a d timi g of delive ies, the timi g of eve ue ecog itio f om the o de a d the custome ’s use of ou p oducts, a d ou expectatio that the custome will place follow-o o de s fo the p og am i the seco d half of 2027 a d beyo d; the viability of ou tech ology a d the ma ket value of ou TAA-complia t i -house ma ufactu i g capabilities; ou st ategic focus o the d o e a d defe se busi ess; ou sales pipeli e a d ou expectatio that additio al pipeli e oppo tu ities will co ve t i to pu chase o de s i the comi g qua te s. These stateme ts a e based o the cu e t expectatio s of ou ma ageme t, a e ot p edictio s of actual pe fo ma ce, a d actual esults may diffe mate ially f om the futu e esults, pe fo ma ce o achieveme ts exp essed o implied by the fo wa d-looki g stateme ts.
Risks, u ce tai ties a d assumptio s that could cause actual esults to diffe mate ially f om the esults a d eve ts a ticipated by such fo wa d-looki g stateme ts i clude, but a e ot limited to: the possibility that the pu chase o de is modified, delayed, educed o ca celled, that delive ies do ot occu o the expected schedule o that the eve ue we ultimately ecog ize f om the o de diffe s f om ou expectatio s; the possibility that the custome does ot place follow-o o de s o that the p og am does ot co ti ue beyo d the i itial o de ; the possibility that othe oppo tu ities i ou sales pipeli e do ot co ve t i to pu chase o de s, o co ve t late o i smalle amou ts tha we expect; isks elated to ou ability to execute o ou st ategic p io ities a d the possibility that the a ticipated be efits of i c eased focus o d o es a d defe se a e ot ealized; isks elated to the outcome of custome testi g a d qualificatio activities, i cludi g the possibility that ou p oducts do ot meet equi ed pe fo ma ce th esholds o that such testi g is delayed beyo d expected time f ames; ou ability to successfully develop, ma ufactu e a d comme cialize ou batte y p oducts a d t a sitio to high-volume p oductio ; ou ability to scale ma ufactu i g ope atio s a d achieve expected p oductio capacity a d yields; ou ability to satisfy applicable gove me t sou ci g, egulato y a d ce tificatio equi eme ts, i cludi g TAA a d NDAA equi eme ts; isks elati g to the FEOC ules, ta iffs, expo t co t ols a d t ade policies; the level a d timi g of custome dema d, qualificatio a d adoptio of ou p oducts ac oss e d ma kets; ou ability to e te i to a d expa d comme cial ag eeme ts, i cludi g secu i g desig wi s, pu chase o de s a d p oductio co t acts; ou ability to execute o ou busi ess st ategy a d build a d scale ou sales a d comme cial capabilities; le gthy a d u p edictable custome qualificatio a d sales cycles, safety co side atio s, p og am delays o ca cellatio s a d co t actual te ms, pa ticula ly i defe se a d othe egulated ma kets; isks elated to batte y pe fo ma ce, eliability a d safety; custome co ce t atio i the defe se secto a d ce tai co sume tech ology ma kets; challe ges i fo ecasti g dema d, i ve to y a d ma ufactu i g equi eme ts that may esult i additio al costs a d p oductio delays; ou histo y of losses a d expectatio of co ti ued losses; isks associated with the developme t a d comme cializatio of p oducts that emai u de developme t a d may ot be successfully p oduced at comme cial scale; ou ability to effectively i teg ate a d de ive be efits f om acqui ed busi esses; fluctuatio s i fo eig cu e cy excha ge ates a d i te est ates; ope atio al a d safety isks associated with ma ufactu i g equipme t; i te se competitio a d ou ability to keep up with apid tech ological cha ge a d evolvi g sta da ds i the batte y i dust y; ou ability to att act a d etai qualified pe so el; the outcome of litigatio , egulato y i vestigatio s a d othe legal matte s, i cludi g the associated legal a d othe costs; liquidity co st ai ts, capital availability a d ou ability to se vice existi g debt; ou ability to p otect a d e fo ce ou i tellectual p ope ty ights; volatility i the t adi g p ice of ou commo stock; cha ges i tax laws o egulatio s; the impact of cybe a d othe i fo matio tech ology o secu ity elated i cide ts o us, ou custome s o othe pa ties; cha ges i the political, eco omic o egulato y e vi o me t ge e ally a d i the ma kets i which we ope ate; a d othe isks desc ibed i the disclosu es co tai ed i ou fili gs with the Secu ities a d Excha ge Commissio (“SEC”), i cludi g i the “Risk Facto s” a d “Ma ageme t’s Discussio a d A alysis of Fi a cial Co ditio a d Results of Ope atio s” sectio s of ou a ual epo t o Fo m 10-K a d qua te ly epo ts o Fo m 10-Q, a d othe docume ts that we have filed, o will file, with the SEC. These docume ts a e available i the SEC Fili gs sectio of the I vesto Relatio s page at https://i .e ovix.com a d at www.sec.gov. It is ot possible fo us to p edict all isks, o ca we assess the impact of all facto s o ou busi ess o the exte t to which a y facto , o combi atio of facto s, may cause actual esults to diffe mate ially f om those co tai ed i a y fo wa d-looki g stateme ts we may make. Acco di gly, you should ot ely o a y of the fo wa d-looki g stateme ts. A y fo wa d-looki g stateme ts i this p ess elease speak o ly as of the date o which they a e made. We u de take o obligatio to update o evise a y fo wa d-looki g stateme ts, whethe as a esult of ew i fo matio , futu e eve ts o othe wise.
We may efe i this p ess elease a d othe commu icatio s to ou “sales pipeli e” o “custome pipeli e” a d “desig wi s.” Ou sales o custome pipeli e ep ese ts ou estimate of the peak a ual p oductio value of ide tified desig oppo tu ities fo p oducts ma ufactu ed i South Ko ea. A “desig wi ” efe s to a oppo tu ity that has bee awa ded to E ovix but has ot yet e te ed p oductio . Custome pipeli e a d desig wi amou ts do ot ep ese t custome o de s, backlog o committed eve ue a d should ot be viewed as fo ecasts of futu e eve ue. Actual eve ue, if a y, will depe d o a umbe of facto s, i cludi g custome qualificatio , fi al p og am awa ds, p oductio timi g, capacity a d volumes, a d the successful lau ch a d amp of custome p og ams. These measu es a e fo wa d-looki g a d a e subject to the isks a d u ce tai ties desc ibed above u de “Fo wa d-Looki g Stateme ts.”
Sou ce: E ovix Co po atio
