Ensurge Micropower ASA (ENSU.OL), an energy storage solution provider, on Monday said it has entered into an agreement with Corning Incorporated(GLW.F), a technology, speciality material and life sciences business firm, to develop together ultra-high-performance solid-state microbatteries.
In addition, Ensurge and Corning have entered into an investment agreement that regulates the terms of Corning's investments in the Company.
The joint development agreement between Ensurge and Corning is to establish a framework to integrate Corning's ribbon ceramic materials and process technology with Ensurge's solid-state microbattery architecture.
Together, the companies aim to deliver an ultra-high energy density product line extension to commercialise batteries that power high-volume consumer, medical, industrial, and defence applications.
Corning is to contribute through it's experience in process, manufacturing and deep material science for Ensurge's solid-state microbattery platform.
Corning shall provide certain engineering and other Corning resources to Ensurge in the costs of which shall be convertible into new shares in Ensurge.
At the end of each quarter, such costs shall be converted to shares in Ensurge at a pre-determined conversion price of NOK 1.11 per share. This is calculated based on the average closing price of the Company's shares over the 10 last trading days prior to the execution of the Agreements.
The maximum monetary amount that may be converted to Conversion Shares, by set-off, is USD 5 million.
Further, Ensurge shall issue certain warrants to Corning, under whichCorning shall have the option to invest up to $10 million in the Company with an exercise price of 1.50 Norwegian Kroner per share.
The Warrants may be exercised in the two-year period following the date of approval by an extraordinary general meeting.
On Friday, the Ensurge shares had closed 1.22% higher at 1.16 Norwegian Kroner in the OSLO market.
For comments and feedback contact: editorial@rttnews.com
Business News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.