FREMONT, Calif., July 8, 2021 /PRNewswire/ -- Enovix
Corporation ("Enovix"), the leader in the design and manufacture of
3D Silicon™ Lithium-ion batteries, today announced several new
additions to the leadership team to accelerate the company's
growth. Enovix has designed, developed and sampled advanced
Lithium-ion batteries with energy densities five years ahead of
current industry production.
Recent appointments to the leadership team include:
- Boris Bastien as Vice
President of Operations. Bastien joins Enovix from SunPower,
where he most recently served as General Manager of SunPower's Fab4
in the Philippines, overseeing
more than 1,000 employees. Prior to SunPower, Bastien spent 17
years at ON Semiconductor and predecessor companies leading teams
across multiple production facilities.
- Alan Hawse as Vice President
of Information Technology. Hawse joins Enovix from Infineon
Technologies, where he most recently served as Senior Vice
President and Fellow. Hawse brings nearly 30 years of experience at
Infineon Technologies and Cypress Semiconductor leading IT and
software teams.
- Tom Surrette as Vice
President of Human Resources. Surrette is a seasoned business
unit leader and human resources executive. At Cypress Semiconductor
his roles included Vice President of its Non-Volatile Memory
business, Senior Vice President of Worldwide Operations and
Executive Vice President of Human Resources.
- Madeline Lefton as Head of
Government Affairs. Lefton joins Enovix from the U.S.
Department of Energy, where she served as a senior advisor and was
previously a senior legislative aide for U.S. Senator Lisa Murkowski. She earned an undergraduate
degree from Dartmouth College and was
editor-in-chief of the Environmental Law Review at Lewis &
Clark Law School, where she earned a
J.D. with specialization in environmental law.
- Kristin Atkins as Senior
Director of Corporate Communications. Atkins joins Enovix from
VMware where she led the company's reputation and Environmental,
Social & Governance (ESG) communications. Atkins previously
spent a decade at Qualcomm in senior roles spanning communications
and Corporate Social Responsibility (CSR).
Since March 2020, Enovix has hired
more than 100 employees, of whom 49 joined in the second quarter of
2021, and plans to continue hiring on this growth trajectory for
the rest of the year.
"The industries of the future need better battery power to
deliver the features consumers demand, while the U.S. government
increasingly cites domestic advanced battery production as a
national priority," said Harrold
Rust, President and Chief Executive Officer of Enovix.
"That's why it's so important that Enovix has a world-class team in
place to deliver batteries with up to 110% greater energy density
of today's offerings right here in California. Our new leaders have proven
experience building new technologies, scaling manufacturing and
advancing market growth, and they are important additions to give
us a strong competitive advantage as we near completion of the
first high volume production facility for batteries with 100%
active silicon anodes in the world."
Enovix's proposed merger with Rodgers Silicon Valley Acquisition
Corp. ("RSVAC") (Nasdaq: RSVA, RSVAU, RSVAW) is expected to close
on or about July 13, 2021, subject to
receipt of RSVAC and Enovix stockholder approval and satisfaction
of other customary closing conditions (the "Business Combination").
The combined company will retain the name Enovix Corporation and
will remain listed on the Nasdaq Global Select Market under the new
ticker symbol "ENVX."
About Enovix
Enovix is the leader in advanced silicon-anode lithium-ion
battery development and production. The company's proprietary 3D
cell architecture increases energy density and maintains high cycle
life. Enovix is building an advanced silicon-anode lithium-ion
battery production facility in the U.S. for volume production. The
company's initial goal is to provide designers of category-leading
mobile devices with a high-energy battery so they can create more
innovative and effective portable products. Enovix is also
developing its 3D cell technology and production process for the
electric vehicle and energy storage markets to help enable
widespread utilization of renewable energy. For more information,
go to www.enovix.com.
About RSVAC
RSVAC is a blank check company formed for the purpose of
effecting a merger, share exchange, asset acquisition, share
purchase, reorganization or similar business combination with one
or more businesses. RSVAC's mission is to provide fundamental
public technology investors with early access to an excellent
Silicon Valley technology company with a focus on green energy,
electrification, storage, Smart Industry (IoT), Artificial
Intelligence and the new automated-manufacturing wave. For more
information, go to www.rodgerscap.com.
Important Information for Investors and Stockholders
In connection with the Business Combination, RSVAC filed a
registration statement on Form S-4, as amended (the "Registration
Statement") with the Securities and Exchange Commission (the
"SEC"), which includes the definitive proxy statement which was
distributed to holders of RSVAC's common stock in connection with
RSVAC's solicitation of proxies for the vote by RSVAC stockholders
with respect to the Business Combination and other matters as
described in the Registration Statement and a prospectus relating
to the offer of the securities to be issued to the equity holders
of Enovix in connection with the Business Combination. The
Registration Statement was declared effective by the SEC on
June 24, 2021 and the definitive
proxy statement/prospectus and other relevant documents have been
mailed to RSVAC stockholders as of June 11,
2021. RSVAC stockholders and other interested persons are
advised to read the definitive proxy statement/prospectus, in
connection with RSVAC's solicitation of proxies for the special
meeting of RSVAC stockholders to be held to approve, among other
things, the Business Combination, because these documents contain
important information about RSVAC, Enovix and the Business
Combination. RSVAC stockholders may also obtain a copy of the
definitive proxy statement/prospectus, as well as other documents
filed with the SEC regarding the Business Combination and other
documents filed with the SEC by RSVAC, without charge, at the SEC's
website located at www.sec.gov or by directing a request
to Thurman J. Rodgers, Rodgers
Silicon Valley Acquisition Corp., 535 Eastview Way, Woodside, CA 94062 or by telephone at (650)
722-1753.
Participants in the Solicitation
RSVAC, Enovix and certain of their respective directors,
executive officers and other members of management and employees
may, under SEC rules, be deemed to be participants in the
solicitation of proxies from RSVAC stockholders in connection with
the Business Combination. Information regarding the persons who
may, under SEC rules, be deemed participants in the solicitation of
RSVAC stockholders in connection with the Business Combination,
including a description of their direct and indirect interests, is
set forth in the Registration Statement filed with the SEC. You can
find more information about RSVAC's directors and executive
officers in the Registration Statement. You may obtain free copies
of these documents from the sources indicated above.
No Offer or Solicitation
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any securities, or a solicitation
of any vote or approval, nor shall there be any sale of securities
in any jurisdiction in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. No offering of securities
shall be made except by means of a prospectus meeting the
requirements of Section 10 of the Securities Act of 1933, as
amended, or an exemption therefrom.
Forward-Looking Statements
This press release contains certain forward-looking statements
for purposes of the safe harbor provisions under the United States
Private Securities Litigation Reform Act of 1995. These
forward-looking statements generally are identified by the words
"intend," "future," "may," "to be," "will," "would," "will be,"
"expect," "project," "believe," "estimate," "intend," "should,"
"plan," "predict," "seem," "seek," "outlook" and similar
expressions that predict or indicate future events or trends or
that are not statements of historical matters. These
forward-looking statements include, but are not limited to,
statements regarding Enovix's ability to build and scale its
advanced silicon-anode lithium-ion battery, Enovix's hiring plans
and the expected timing of the Business Combination between Enovix
and RSVAC. These statements are based on various assumptions,
whether or not identified in this press release, and on the current
expectations of the management of Enovix and are not predictions of
actual performance. These forward-looking statements are provided
for illustrative purposes only and are not intended to serve as,
and must not be relied on by an investor as, a guarantee, an
assurance, a prediction, or a definitive statement of fact or
probability. Actual events and circumstances are difficult or
impossible to predict and will differ from assumptions. Many actual
events and circumstances are beyond the control of Enovix.
These forward-looking statements are subject to a number of
risks and uncertainties, including changes in domestic and foreign
business, market, financial, political, and legal conditions; risks
related to the rollout of the Enovix business and the timing of
expected business milestones; the effects of competition on the
Enovix business; and those factors discussed in the Registration
Statement under the heading "Risk Factors," and other documents
RSVAC has filed, or will file, with the SEC. If any of these risks
materialize or our assumptions prove incorrect, actual results
could differ materially from the results implied by these
forward-looking statements. There may be additional risks that
Enovix does not presently know, or that Enovix does not currently
believe are immaterial, that could also cause actual results to
differ from those contained in the forward-looking statements. In
addition, forward-looking statements reflect the expectations,
plans, or forecasts of future events by Enovix and views as of the
date of this press release. Enovix anticipates that subsequent
events and developments will cause the assessments of Enovix to
change. However, while Enovix may elect to update these
forward-looking statements at some point in the future, Enovix
specifically disclaims any obligation to do so. These
forward-looking statements should not be relied upon as
representing the assessments of Enovix of any date subsequent to
the date of this press release. Accordingly, undue reliance should
not be placed upon the forward-looking statements. Enovix gives no
assurance that it will achieve its expectations.
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SOURCE Enovix