Enovix Receives 100,000-Battery Drone Order

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, immediately a ou ced a pu chase o de f om a multi atio al p ovide of dual-use d o e techniques. The i itial o de is fo 100,000 batte y u its, with delive ies scheduled i the fi st half of 2027 because the custome scales its use of E ovix cells ma ufactu ed on the Compa y’s TAA-complia t, milita y-qualified facility i South Ko ea. Followi g profitable i itial deployme t, the custome is anticipated to position 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 professional, o -Chi ese sou ce ow, a d this o de exhibits E ovix ca delive ,” stated Steve Bakos, Chief Reve ue Workplace 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 worth to custome s who eed a secu e sou ce of provide.”

The o de strikes o e oppo tu ity f om the app oximately $216 millio d o e, defe se a d i mud ial pipeli e E ovix epo ted o Octobe 12, 2026 i to backlog, a d is amo g the This fall’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.

About E ovix

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 mud 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 gadgets whereas mai tai i g security a d eliability, suppo ti g comme cializatio ac oss co sume a d i mud ial ma kets.

E ovix is headqua te ed i Silico Valley with amenities i I dia, South Ko ea a d Malaysia, se vi g custome s globally. Fo mo e i fo matio go to https://e ovix.com a d observe us o Li kedI .

Fo wa d-Looki g Stateme ts

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 resembling a ticipate, consider, may, estimate, count on, i te d, might, may, pla , potential, pote tial, p edict, p oject, ought to, will, would a d simila exp essio s. Fo wa d-looki g stateme ts i this p ess elease i clude, however a e ot restricted 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 worth 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 gross 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 primarily based o the cu e t expectatio s of ou ma ageme t, a e ot p edictio s of precise pe fo ma ce, a d precise esults might 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.

Dangers, u ce tai ties a d assumptio s that would trigger precise 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, however a e ot restricted to: the likelihood that the pu chase o de is modified, delayed, educed o ca celled, that delive ies do ot occu o the anticipated schedule o that the eve ue we finally ecog ize f om the o de diffe s f om ou expectatio s; the likelihood 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 likelihood that othe oppo tu ities i ou gross 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 count on; isks elated to ou capability to execute o ou st ategic p io ities a d the likelihood 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 result of custome testi g a d qualificatio actions, i cludi g the likelihood that ou p oducts do ot meet equi ed pe fo ma ce th esholds o that such testi g is delayed beyo d anticipated time f ames; ou capability to efficiently develop, ma ufactu e a d comme cialize ou batte y p oducts a d t a sitio to high-volume p oductio ; ou capability to scale ma ufactu i g ope atio s a d obtain anticipated p oductio capability a d yields; ou capability to fulfill relevant 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 insurance policies; the extent a d timi g of custome dema d, qualificatio a d adoptio of ou p oducts ac oss e d ma kets; ou capability 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 capability to execute o ou busi ess st ategy a d construct a d scale ou gross sales a d comme cial capabilities; le gthy a d u p edictable custome qualificatio a d gross sales cycles, security co facet atio s, p og am delays o ca cellatio s a d co t precise 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 security; 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 which will esult i additio al prices a d p oductio delays; ou histo y of losses a d expectatio of co ti ued losses; isks related to the developme t a d comme cializatio of p oducts that emai u de developme t a d might ot be efficiently p oduced at comme cial scale; ou capability to successfully 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 security isks related to ma ufactu i g equipme t; i te se competitio a d ou capability to maintain up with apid tech ological cha ge a d evolvi g sta da ds i the batte y i mud y; ou capability to att act a d etai certified pe so el; the result of litigatio , egulato y i vestigatio s a d othe authorized matte s, i cludi g the related authorized a d othe prices; liquidity co st ai ts, capital availability a d ou capability to se vice existi g debt; ou capability 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 inventory; cha ges i tax legal guidelines o egulatio s; the affect 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 “Threat Facto s” a d “Ma ageme t’s Discussio a d A alysis of Fi a cial Co ditio a d Outcomes of Ope atio s” sectio s of ou a ual epo t o Fo m 10-Ok a d qua te ly epo ts o Fo m 10-Q, a d othe docume ts that we’ve filed, o will file, with the SEC. These docume ts a e accessible i the SEC Fili gs sectio of the I vesto Relatio s web page at https://i .e ovix.com a d at www.sec.gov. It’s ot potential fo us to p edict all isks, o ca we assess the affect of all facto s o ou busi ess o the exte t to which a y facto , o combi atio of facto s, might trigger precise esults to diffe mate ially f om these co tai ed i a y fo wa d-looki g stateme ts we might make. Acco di gly, it is best to 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 converse o ly as of the date o which they a e made. We u de take o obligatio to replace 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 clever.

Observe Rega di g Custome Pipeli e a d Desig Wi s

We might efe i this p ess elease a d othe commu icatio s to ou “gross sales pipeli e” o “custome pipeli e” a d “desig wi s.” Ou gross sales o custome pipeli e ep ese ts ou estimate of the height a ual p oductio worth 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 however has ot but 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 dedicated eve ue a d ought to ot be considered as fo ecasts of futu e eve ue. Precise 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, capability a d volumes, a d the profitable lau ch a d amp of custome p og ams. These measu es a e fo wa d-looki g a d a e topic to the isks a d u ce tai ties desc ibed above u de “Fo wa d-Looki g Stateme ts.”

Fo media a d i vesto i qui ies, please co tact:I vesto Co tact:Mo ica GouldBlueshi t G oupi @e ovix.com

Sou ce: E ovix Co po atio