Ensurge Micropower ASA - Annual Report and Financial Statements 2024

Company Overview - Ensurge Micropower ASA specializes in ultrathin, flexible, reliable, and safe solid-state lithium microbatteries designed for wearable devices and connected sensors [3] - The company’s microbattery technology is suitable for applications requiring energy-dense rechargeable products, including hearables, health wearables, sports devices, and IoT sensor solutions [3] - Ensurge operates a state-of-the-art manufacturing facility in Silicon Valley, utilizing patented process technology and roll-to-roll production methods to enhance market reach [3] Financial Summary - The Board of Directors approved the annual report and financial statements for 2024 on April 11, 2025, which align with the preliminary report disclosed on February 19, 2025 [1] - The auditor's report includes an emphasis of matter paragraph regarding going concern, indicating potential concerns about the company's financial stability [1] - The Board does not propose a dividend for the year [1] Product Development - Following successful testing of the 11-layer battery, Ensurge is advancing the development of higher-capacity battery variants [5] - All major technical challenges have been resolved, with the next phase focusing on scaling up designs and manufacturing capacity [5] - The commercial pipeline includes over 100 prospects across targeted market segments, with initial shipments expected in 2025 after product qualification and certification [5]