Ensurge Micropower ASA – Joint development and investment agreements with Corning Incorporated to advance solid-state microbattery technology

Core Insights - Ensurge Micropower ASA has entered into agreements with Corning Incorporated to develop ultra-high performance solid-state microbatteries [1][2] - The collaboration aims to integrate Corning's materials science expertise with Ensurge's microbattery technology for high-density energy products [2][3] Joint Development Agreement - The Joint Development Agreement establishes a framework for collaboration between Ensurge and Corning to enhance battery technology for various applications [2] - The goal is to commercialize batteries for consumer, medical, industrial, and defense sectors [2] Investment Agreement - An Investment Agreement has been established, allowing Corning to invest in Ensurge [4] - Corning will provide engineering resources, with costs convertible into shares at a price of NOK 1.11 per share [5] Financial Terms - The maximum amount convertible to shares is USD 5 million, with additional warrants allowing Corning to invest up to USD 10 million [6] - Each Warrant has an exercise price of NOK 1.50 per share and can be exercised within two years following approval by an extraordinary general meeting [7] Approval and Presentation - The issuance of Warrants and Conversion Shares is subject to approval by an extraordinary general meeting [8] - Ensurge invites stakeholders to a webcast presentation to discuss the agreements [8]