Ensurge Micropower - Executes San Jose relocation agreements, confirming over USD 3.5 million in annual recurring cost savings
2026-09-09 07:00:00
Oslo, Norway, 9 September 2026 - Ensurge Micropower ASA (OSE: ENSU) has executed
the agreements to relocate its San Jose operations from its approximately 96,000
sq ft facility at 2581 Junction Avenue to an approximately 32,000 sq ft, fully
equipped and battery-focused facility at 130 Baytech Drive. The relocation
completes the cost restructuring workstream first disclosed in February 2026.
The new site gives Ensurge a fully equipped, battery-focused environment,
purpose-built to accelerate its proprietary lithium solid-state microbattery
development and pilot-line operations, as well as a state-of-the-art space to
host customers, partners, and stakeholders across med-tech, consumer
electronics, IoT, and defense markets.
Final terms are in line with the expected financial effects disclosed in the
first half 2026 interim report. On completion, the relocation is expected to
deliver:
o Over USD 3.5 million of recurring annual savings on a net basis, reducing
recurring site-related costs by approximately 70 percent and site costs from
approximately 30 percent to approximately 10 percent of total operating costs;
o Approximately USD 1 million of one-time cost avoidance relating to lease
abatement, decommissioning, and transferred fixtures and equipment;
o Removal of approximately USD 1 million of liability related to the existing
Junction Avenue lease guarantee; and
o Release of a net USD 850 thousand of restricted cash currently securing the
Junction Avenue letter of credit, expected in the first quarter of 2027.
Ensurge will gain access to Baytech Drive from 1 October 2026 and will retain a
defined process area at Junction Avenue through year-end 2026, so that
operations continue without interruption while equipment and workflows are
transferred and qualified.
For further questions, please contact: ir@ensurge.com
About Ensurge Micropower
Ensurge Micropower develops ultra-thin, flexible solid-state lithium micro
batteries that enable next-generation electronic devices. The Company's
proprietary platform is designed to deliver safe, high-performance energy
storage in space-constrained applications across medical devices, hearables,
wearables, industrial systems, and defense. Ensurge Micropower ASA is listed on
the Oslo Stock Exchange under the ticker ENSU.
er ASA is listed on\
the Oslo Stock Exchange under the ticker ENSU.\