Ensurge Micropower ASA – Q4 2025
CEO comment: “The fourth quarter marked an important strategic shift for Ensurge. We sharpened our focus on validating product performance, disciplined execution, and efficient use of capital. By shifting from the company’s legacy focus on process engineering to a product-led model and by strengthening our technical depth, we are building a more credible path to commercialization and long-term value creation.”
Operational highlights:
Strategic shift During her first 100 days, CEO Shauna McIntyre conducted a comprehensive operational review that identified opportunities to strengthen commercialization through increased focus on product validation and more efficient resource allocation. Customer feedback emphasized the need for validated product performance and demonstrated technological capability. As a result, the company has shifted from a process‑ and manufacturing‑driven approach to a leaner product‑led model.
Corning partnership Ensurge entered into a Joint Development Agreement with Corning to integrate Corning’s Ribbon Ceramic cathode with Ensurge’s solid‑state microbattery platform. Together, Ensurge and Corning aim to deliver an ultra‑high energy density product line extension that powers high‑volume consumer, medical, industrial, and defense applications. Corning’s contribution includes process and manufacturing expertise as well as deep materials knowledge. Activities under the agreement are progressing in accordance with the agreed scope and framework.
Commercial development The company continued engagement with leading companies in health, medical devices, and industrial technology during Q4, and advanced negotiations with a major medical device manufacturer regarding a multi‑year development program. Ensurge also experienced consistent interest from leading companies across industrial, consumer, sports, and entertainment sectors.
Organization The company has strengthened its team with battery experts including a new CTO and COO. Battery expertise is on track to represent more than 35% of the team, up from below 10%. Ensurge has implemented industry‑standard, phase‑gated product development processes as the foundation for disciplined customer engagement and execution.
Financial highlights - Operating expenses in Q4 2025: USD 3.3 million compared to USD 2.7 million in Q4 2024, driven by personnel, facilities, equipment, materials and discontinuation of R&D capitalization. - Capitalization of R&D costs discontinued as of December 2025 in line with the company’s current status. No impact on cash flow. - Cost‑reduction initiatives exceeding USD 2 million annually have been initiated across all business areas.
Outlook Ensurge is focused on product validation and establishing the foundation for commercial scale‑up. The company estimates its total addressable market at more than USD 4 billion, with growth above 22% CAGR.
For further information, please contact: ir@ensurge.com
About Ensurge Micropower ASA Ensurge Micropower develops ultra-thin, flexible solid-state lithium microbatteries that enable next-generation electronic devices. The company's proprietary platform is designed to deliver safe, high-performance energy storage in space-constrained applications across medical devices, hearables, wearables, industrial systems, and defense. Ensurge Micropower ASA is listed on the Oslo Stock Exchange under the ticker ENSU.