As smart phone energy demands grow (especially with the proliferation of AI apps), Enovix is working to scale its disruptive battery architecture to improve efficiency and capacity. And the company’s total addressable market (“TAM”) is enormous, expanding beyond just smart phones and into wide-ranging Internet of Things (“IoT”) devices and electric vehicles. In this report we review the Enovix solution, TAM, progress, valuation and risks. We conclude with our strong opinion on investing.

In this report, we review a manufacturer of advanced lithium-ion batteries. This early-stage public company is well-positioned to benefit from growing demand, including mobile, Internet of Things (IoT) and electric vehicles. Key differentiators include its energy density advantage (achieved through design and architecture choices) and silicon anode technology. It also addresses key safety concerns. We analyze the business model, market opportunity, financials, valuation and risks. We conclude with our opinion on investing.