Enovix designs and manufactures advanced lithium-ion batteries built around a proprietary silicon-anode architecture. Unlike conventional batteries, which use graphite as the anode material, Enovix uses 100% active silicon in a "stacked" 3D cell design with a stainless steel structural constraint that manages silicon's tendency to expand during charging. This approach allows Enovix to achieve significantly higher volumetric energy density than graphite-based or silicon-doped incumbents. Enovix sells custom-designed battery cells and packs directly to OEMs and ODMs, with each cell tailored to a specific device's dimensions and performance requirements. Target markets include smartphones, smart eyewear and AR devices, defense and industrial applications, and IoT devices, with EVs and laptops as longer-term opportunities. Today, the majority of revenue comes from conventional Li-ion batteries for defense and industrial customers, shipped from Enovix's South Korea facilities acquired in 2023. The proprietary AI-1 silicon-anode platform is manufactured at Fab2 in Penang, Malaysia, which is currently in customer qualification for smartphones and smart eyewear, with commercial launches targeted for 2026. The business model depends on volume scaling at Fab2—the cost structure is heavily fixed, and profitability requires ramping multiple high-volume manufacturing lines. Enovix's core commercial strategy is to use the smartphone market as a proving ground for its technology, then expand into adjacent markets using smartphone qualifications as a reference.