Enovix announced that it had received an order for batteries for dual-use drones from a multinational company. The initial delivery will comprise 100,000 units and is scheduled for the first half of 2027. The stock has been modestly higher in after-hours trading.
Enovix, a lithium-ion battery manufacturer, announced that it had received an order for batteries from a multinational company involved in dual-use drone systems. The initial order is for 100,000 units, with delivery scheduled for the first half of 2027.
The customer is expected to place additional orders for the program from the second half of 2027 onward. This points to the possibility of a long-term supply agreement.
The stock had risen in after-hours trading but subsequently traded modestly higher. Enovix designs, develops, manufactures and sells products using high-energy-density lithium-ion batteries, supplying the smartphone and defense sectors, among others.
The company overview describes Enovix as providing advanced battery technology, including its proprietary silicon-anode architecture.