MESDAQ

Enovix Awarded 15-Year Pioneer Status from Malaysian Investment Development Authority for its High-Volume Manufacturing Facility

Retrieved on: 
Wednesday, March 27, 2024
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FREMONT, Calif., March 27, 2024 (GLOBE NEWSWIRE) -- Enovix Corporation (“Enovix”) (Nasdaq: ENVX), a global high-performance battery company, today announced it has been granted 15-year Pioneer Status from the Malaysian Investment Development Authority (MIDA) for manufacturing its batteries in Malaysia.

Key Points: 
  • FREMONT, Calif., March 27, 2024 (GLOBE NEWSWIRE) -- Enovix Corporation (“Enovix”) (Nasdaq: ENVX), a global high-performance battery company, today announced it has been granted 15-year Pioneer Status from the Malaysian Investment Development Authority (MIDA) for manufacturing its batteries in Malaysia.
  • Enovix’s high-volume manufacturing facility, Fab2, is located in the Penang Science Park in Penang, Malaysia.
  • “Being awarded Pioneer Status is a monumental milestone for Enovix as we become further established in Malaysia and begin to ramp up manufacturing in our Fab2 facility,” said Ajay Marathe, Chief Operating Officer of Enovix Corporation.
  • With MIDA’s support, I am confident we will scale a sustainable high-volume manufacturing business.”
    For more information on Enovix and its battery technology, please visit enovix.com .

Signing Ceremony with Next-Generation Battery Manufacturer, Enovix, and YBS International Berhad to Commemorate New Manufacturing Facility in Penang Science Park

Retrieved on: 
Monday, July 31, 2023
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Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, Ministry of MITI

Key Points: 
  • Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, Ministry of MITI
    Jackie Yong Chan Chea, CEO of YBS International Berhad: “Enovix has an exciting battery technology.
  • Malaysia, especially the Penang region, is rich with semiconductor-trained engineers who have a manufacturing-excellence mindset.
  • We’re pleased to advance our presence in the region to support our rapid growth.”
    Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, Ministry of MITI: “I applaud YBS and Enovix for finalizing their agreement and establishing its manufacturing facility in Penang Science Park.
  • Indeed, I believe the collaboration between YBS International and Enovix Corp will follow a similar path.”

Enovix Signs Manufacturing Agreement with YBS International Berhad for Fab2 in Malaysia

Retrieved on: 
Wednesday, July 26, 2023
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The agreement secures $70 million of non-dilutive funding to support Enovix’s Fab2 site in Penang, Malaysia, and its first Gen2 high-volume manufacturing line.

Key Points: 
  • The agreement secures $70 million of non-dilutive funding to support Enovix’s Fab2 site in Penang, Malaysia, and its first Gen2 high-volume manufacturing line.
  • “We’re thrilled to announce this significant milestone in our journey to scale,” said Dr. Raj Talluri, President and CEO of Enovix.
  • Enovix announced earlier this year that it established Enovix Malaysia Sdn.
  • “The Enovix Malaysia team is already making tremendous progress,” said Ajay Marathe, COO of Enovix.

Enovix Announces Manufacturing Partner and Location for Fab-2 in Malaysia

Retrieved on: 
Wednesday, March 29, 2023
YBS, Operation, Human resources, Employment, MIDA, Twelfth Malaysia Plan, MESDAQ, Malaysian Investment Development Authority, Human, Northern Corridor Economic Region, Loganathan, BHD, LOI, Public expenditure, GEN1, Holliday junction 5' flap endonuclease, Autoline Detroit, Silicon, Growth, Rare-earth element, Management, Tutoring

The LOI contemplates that Enovix will locate Fab-2, its high-volume manufacturing facility, in an existing YBS building located in Penang, Malaysia, at the Penang Science Park.

Key Points: 
  • The LOI contemplates that Enovix will locate Fab-2, its high-volume manufacturing facility, in an existing YBS building located in Penang, Malaysia, at the Penang Science Park.
  • We look forward to supporting Enovix’s goals and sharing in its growth and success.”
    Enovix also announced it has established Enovix Malaysia Sdn.
  • Loganathan will oversee manufacturing and scale-up for Enovix Malaysia.
  • Wan Ilham joins as Enovix Malaysia Human Resources Director, reporting to Iryna Romaniv, Global Vice President of Human Resources (HR).