Thinfilm Announces First Complete Solid-State Lithium Batteries on Steel Substrates

Oslo, Norway, 10 July 2020 – Thin Film Electronics ASA ("Thinfilm"), a developer of ultrathin, flexible, and safe energy storage solutions for wearable devices and connected sensors, today announced attainment of a major milestone in the development of its solid-state lithium battery (SSLB) technology: the successful fabrication of functional batteries, on Thinfilm's stainless steel substrates, in its San Jose, California manufacturing facility. Initial characterization testing has demonstrated expected energy densities, thereby enabling differentiated product performance compared to alternatives. Following the completion of this milestone, the Company announced plans to accelerate the transfer of the remaining essential tool from its process technology development partner to Thinfilm's San Jose facility in order to speed development cycle times and guard against potential delays related to the ongoing pandemic.

To successfully produce SSLBs on Thinfilm stainless steel substrates, Thinfilm's technical team integrated multiple proprietary manufacturing processes despite processing delays at the partner location due to tightening operational protocols associated with the COVID-19 pandemic. Electrical test results indicate that the Company is on track to deliver differentiated batteries with superior performance characteristics compared to competitors, including rechargeable lithium-ion pouch and coin cells widely used in target markets.

Thinfilm's proprietary, production-proven steel substrate technology is a critical enabler for the scalable production of SSLB products with milliamp-hour-class energy capacities. The favorable mechanical and thermal properties of ultrathin steel – together with Thinfilm's proprietary encapsulation technology – enable the production of larger batteries with superior volumetric energy densities compared to alternatives. Furthermore, the mechanical flexibility of steel enables Thinfilm's highly scalable, roll-based production process that cannot be replicated by competitors dependent on rigid silicon substrates.

In support of the Company's next phase of technology development, the Company is accelerating existing plans to transfer ownership of remaining process equipment, responsible for a key manufacturing step, to control development of proprietary intellectual property and increase flexibility in the scheduling and operation of the complete equipment set. Furthermore, Thinfilm's technical team has been augmented by recent key hires in battery technology, process integration, packaging, and equipment engineering.