Ensurge Micropower ASA enters into multi-year development agreement with leading wearables company
STOCK EXCHANGE ANNOUNCEMENT
Ensurge Micropower ASA enters into multi-year development agreement with leading wearables company
Oslo, Norway; San Jose, California - 22 October 2026
Ensurge Micropower ASA (Oslo Børs: ENSU) today announced that it has entered into a multi-year, multi-phase, paid development agreement with a leading global technology company (the "Customer") for the design, development, and delivery of a customized solid-state microbattery, with the intention of progressing to high-volume manufacturing upon successful completion of the development program.
The agreement establishes a structured, phased development program that begins with proof-of-concept and advances through engineering validation, design validation, and process validation, ahead of qualification for mass production. Each phase is defined by milestone-based deliverables and funded by the Customer upon satisfactory achievement of the milestones. The parties intend to negotiate a supply agreement during the course of the final phase, contingent on successful completion of the development milestones.
The Customer is a global technology leader with a strong track record of bringing innovative, high-volume consumer products to market. Ensurge's unique solid-state microbattery is being developed to meet the application's demanding requirements for ultra-compact form factor, high energy density, safety, and long-term reliability, enabling the Customer's next-generation devices.
"This agreement marks an important milestone for Ensurge. It reflects strong validation of our solid-state microbattery platform by a leading global technology company and establishes a structured path toward commercial-scale manufacturing. We are proud to partner with the Customer's team and look forward to progressing through the development phases toward high-volume manufacturing", says Shauna McIntyre, CEO, Ensurge Micropower.
This agreement marks Ensurge's second active development agreement, alongside its existing and previously announced Joint Development Agreement with Corning Incorporated and reflects the growing commercial momentum of the Company's solid-state microbattery platform.
For more information, please contact: ir@ensurge.com
About Ensurge Micropower ASA
Ensurge Micropower ASA is developing solid-state microbatteries designed for next-generation wearable, medical, and connected devices. Leveraging proprietary thin-film deposition processes, Ensurge's technology enables high energy density, small form factor, and long-cycle life batteries suited for space- and power-constrained applications. The Company is headquartered in Oslo, Norway, with operations in San Jose, California, and is listed on Euronext Oslo Børs under the ticker ENSU.
For more information, visit www.ensurge.com.
This information is considered to be inside information pursuant to the EU Market Abuse Regulation (MAR) and is subject to the disclosure requirements pursuant to MAR article 17 and section 5-12 of the Norwegian Securities Trading Act. This stock exchange announcement was published by Oslo Børs on behalf of CEO Shauna McIntyre on 22 October at the time and date stated above in this announcement.