Enovix Corporation (NASDAQ: ENVX), an advanced silicon battery company, today announced agreements with Japanese distribution and manufacturing services company, Elematec Corporation, and South Korean power management and IoT-focused distributor, Semicomtech, to support pan-Asian shipping, distribution and market expansion.
Elematec is an integrated services company that provides sales, technology, development and production support for end users. The company is focused on the Japanese market and delivers electronics parts and finished products globally. Their capabilities exceed the standard distributor by offering full pack-to-Original Design Manufacturer product solutions. Elematec is incorporating Enovix batteries into several solutions for their customers.
Semicomtech is a global provider of mostly power-based semiconductor devices that are focused on consumer- and IoT-based customers in South Korea. Semicomtech’s offerings are highly complementary to the batteries and packs that Enovix provides for these applications.
“These strategic distributor agreements enable us to expand quickly and leverage their experience and customer relationships in key markets,” said Ralph Schmitt, chief commercial officer at Enovix. “Elematec and Semicomtech will act as an extension of our team, so we can sell more of our next-generation batteries across Asia.”
Enovix, read this morning’s press release, “has been building its presence in Asia through direct hires and distributor agreements. The additions of Elematec and Semicomtech further validate the company’s readiness to expand and support the demand in the global consumer electronics market.”
ENVX prospered 33 cents, or 2.5%, to $13.44.
