Enovix Corporation (NASDAQ:ENVX) ("Enovix"), a developer and manufacturer of advanced lithium-ion batteries, including proprietary silicon-anode architectures, today provided additional details of its accelerated capacity expansion in South Korea, whose first phase is expected to double production capacity for its flagship drone products, and of the growing strategic role of its silicon-blended graphite anode battery platform (MX-1).

Already underway and expected online in mid-2027, the expansion is highly capital-efficient, utilizing existing land and buildings the Company already owns and leveraging readily available production equipment. Enovix’s rapidly growing South Korea pipeline reached approximately $183 million at the end of the second quarter of 2026, up approximately 41% from $130 million at the end of the first quarter. This first phase is designed to establish a scalable production model upgraded with Enovix’s AI-1 technology to maintain market share, and support significantly larger-scale manufacturing expansion as demand grows.