Carbon Micro Battery Corporation Announces Name Change to Enovate Corporation

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Innovating energy storage enabling longer uptime in less space for next-generation 3G and 4G smartphones, mobile handsets and portable consumer electronics

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Enovate addresses the key problems of achieving longer battery life and with thinner form factors for 3G and new 4G smartphones. Users demand more uptime to be ‘always on’ with a broad variety of ‘always connected’ applications.

Enovate Corporation, a California-based rechargeable battery solutions company, announced today that it has changed its corporate name from Carbon Micro Battery Corporation to Enovate Corporation. Enovate is focused on developing innovative advanced materials, IP and architectures to enable the next generation of battery storage enabling longer uptime in less space for next generation mobile devices. The new name better reflects the Company’s growth strategy in the energy storage space.

Originally spun-out in 2005 from the University of California, Irvine, Enovate has received over $5.3 million in venture financing since 2008 from leading venture capital funds including Mission Ventures and Draper Fisher Jurvetson to fund the research and development of advanced high-capacity rechargeable Li-ion batteries.

Enovate is developing prototype rechargeable Li-ion battery cells utilizing its proprietary Enovate™ HD-Energy™. HD-Energy delivers significant high density energy improvements to today’s lithium-ion (Li-ion) rechargeable batteries while staying in the Li-ion ecosystem. Enovate’s development engineering is focused on battery products for next-generation 3G and 4G smartphones, mobile handsets as well as for broad use in portable consumer electronics. Enovate HD-Energy technology is also extensible to specialty battery applications in embedded, military, medical and electric vehicle markets.

“Enovate addresses the key problems of achieving longer battery life and with thinner form factors for 3G and new 4G smartphones. With data use now exceeding that of voice on advanced cellular phones, users demand more uptime to be ‘always on’ with a broad variety of ‘always connected’ applications, said Brian Wong, President & CEO of Enovate Corporation. “Batteries are one of the largest components in handsets, and improving volumetric energy density is the key factor to create more highly featured, yet thinner and more pocketable smartphones. We have developed innovative battery technologies to significantly improve the user experience in one of the fastest growing segments of cellular phones.”

Enovate addresses a market of over $1B for Li-ion batteries in mobile handsets and smartphones and the broader market of over $10B for all Li-ion batteries worldwide. More information can be found on the company’s new website at: http://www.enovate-energy.com.

About Enovate

Enovate Corporation is focused on innovating energy storage with advances in materials and battery architectures which enable higher capacity rechargeable Li-ion batteries for a wide range of applications, starting with 3G and 4G smartphones and portable consumer electronics. Headquartered in Irvine, California, the company is privately held with funding from sources including Draper Fisher Jurvetson and Mission Ventures.

Enovate, the Enovate logo and HD-Energy are trademarks of Enovate Corporation. Other names and brands are the property of their respective owners.

Contact:
Jarvis Tou
Executive Vice President
jarvis(at)enovate-energy(dot)com
(949) 525-9389

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Jarvis Tou
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