Enovix ENVX Stock Does Resurrection Cross On Army Order

  • Post category:Stock Trading
  • Reading time:3 mins read
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Enovix ENVX stock formed a Resurrection Cross on June 27, 2023, after the company won an Army contract.

ENVX stock chart on June 27 2023 with a Resurrection Cross
ENVX stock chart on June 27, 2023, with a Resurrection Cross

Enovix Corporation is a company that specializes in developing and manufacturing advanced lithium-ion battery solutions. They focus on creating innovative and high-performance batteries for various applications such as smartphones, wearables, and other portable electronic devices. Enovix Corporation’s unique technology integrates silicon into the battery’s anode, resulting in higher energy density and improved performance compared to traditional lithium-ion batteries.

Enovix Receives Purchase Order to Produce Battery Cells for U.S. Army

On June 27, 2023, Enovix announced the progression of its US Army program, with a commitment to producing commercial cells for use within US Army soldier’s central power source, called the Conformal Wearable Battery (CWB). This agreement progresses this program to the next critical step towards full volume production. Created by Inventus Power, the CWB powers vital communications equipment and other devices.

“Our cells provide a significant energy density advantage compared to other cells on the market today, and I’m proud that our team has successfully designed and produced BrakeFlow™-enabled custom cells for Inventus Power and the U.S. Army,” said Dr. Raj Talluri, President & CEO of Enovix. “This achievement is yet another proof point on our journey to scale.”

Enovix cells will be used to build pre-production CWB packs. Today, U.S. soldiers carry more than 60 pounds of gear, including batteries, to power critical equipment.

The Enovix cell has the potential to nearly double the energy density of the current CWB cells, which could result in substantial operational advantages including longer lasting and lighter battery packs. Another key advantage for the Army is Enovix BrakeFlow™ technology, a breakthrough safety system that provides an extra layer of protection inside the cell. If an internal short does occur, with BrakeFlow incorporated, instead of a sudden catastrophic release of energy the battery is designed to discharge slowly and safely.

Enovix Overview

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