EFL - ELECTROVAYA INC

[Kostolanys Erbe]

Hallo Leute,

hier startet jetzt der Thread für EFL zum nachlesen.

Anbei der link der bisher gesammelten News und Infos zu EFL:

http://peketec.de/trading/viewtopic.php?p=1692351#1692351


Viele Grüße
Euer Kosto

Kostolanys Erbe schrieb am 16.08.2016, 21:59 Uhr[/url]"]

Electrovaya releases 44-amp-hour Li battery



2016-08-16 07:30 ET - News Release



Dr. Joerg Reim reports

ELECTROVAYA-LITARION INTRODUCES HIGHER ENERGY DENSITY 44AH LITHIUM ION CELL

Electrovaya Inc. and its wholly owned subsidiary, Litarion GmbH, have introduced the next-generation Litacell LC-44. The Litacell LC-44 with its higher energy density delivers 44 amp hours (ah) in the same geometry as the 40 ah Litacell LC-40. The new model LC-44 is available to original equipment manufacturers and battery pack integrators worldwide, and first deliveries will be made this quarter, fourth quarter 2016.

The Litacell LC-44 features an unparalleled combination of safety, cycle life and cost. It promises extraordinary cycle and calendar life (up to 9,000 cycles at 1C charge and 1C discharge at 100-per-cent depth of discharge), unique safety properties due to the unparalleled stability of Separion flexible ceramic separator membrane, stringent quality standards and excellent pricing options.

The Litacell LC-44 contains optimized NMC/graphite-based electrode chemistry.

"Our strong research team has an exciting program to continuously develop the next generation of lithium-ion cells. The increased energy density of the LC-44 reduces material and other production costs while giving higher energy capacity in the same volume and same geometrical package as the LC-40. Lithium-ion cells have cost, cycle life and safety challenges, and the Litacell LC-44 provides the breakthrough technology to address some of these challenges," said Dr. Joerg Reim, chief technical officer, Litarion.

"Litacell 44 ah cells are now available to customers in Europe, North America and elsewhere, where the market demands highest safety and lowest holistic cell costs," said Dr. Pia Kuesgens, manager, business development, at Litarion. "We believe this technology should become the industry standard for the electric mobility and energy storage markets."

Please visit and attend the company's talks at:

Renewable Energy India Expo, Sept. 7 to Sept. 9, 2016, Noida, India;
Solar Power International, Sept. 12 to Sept. 15, 2016, Las Vegas, Nev.;
The Battery Show, Sept. 13 to Sept. 15, 2016, Novi, Mich.;
eCarTec, Oct. 18 to Oct. 20, 2016, Munich, Germany.


http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aEFL-2398693&symbol=EFL®ion=C

Kostolanys Erbe schrieb am 19.07.2016, 23:11 Uhr[/url]"]Electrovaya arranges $10-million (U.S.) credit facility



2016-07-19 07:13 ET - News Release



Dr. Sankar Das Gupta reports

ELECTROVAYA SIGNS WORKING CAPITAL FACILITY LOAN AGREEMENT WITH ONE OF CANADA'S LARGEST BANKS

Electrovaya Inc. has entered into a definitive loan agreement with a top-three Canadian chartered bank for a $10-million (U.S.) ($13-million) credit facility. This facility will support Electrovaya's growing business and working capital needs for its recently announced customer agreements.

The facility, which is subject to certain terms and conditions, is expected to close once security arrangements have been put in place.

Commenting on the facility, Electrovaya chairman and chief executive officer Dr. Sankar Das Gupta stated: "We are very pleased to have this working capital facility as it provides the necessary funds to ramp up our production and meet the demands of our growing customer base. The bank has conducted an extremely thorough due diligence focusing on our recently announced agreements and with their support we look forward to continuing on our rapid growth path."


http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aEFL-2390425&symbol=EFL®ion=C

Kostolanys Erbe schrieb am 06.07.2016, 23:47 Uhr[/url]"]:D

EFL mit News!



Electrovaya to supply battery modules to European OEM



2016-07-06 07:19 ET - News Release



Mr. Fritz Mueller reports

ELECTROVAYA'S SUBSIDIARY LITARION SIGNS MOU WITH A MAJOR OEM IN THE E-MOBILITY INDUSTRY, FOR THE DELIVERY OF LITHIUM ION BATTERY MODULES

Electrovaya Inc.'s wholly owned subsidiary, Litarion GmbH, has signed a memorandum of understanding with a major original equipment manufacturer in the e-mobility (electric mobility) industry for the delivery of battery modules starting in 2017. Electrovaya will provide its battery modules, which deliver unparalleled safety and cycle life performance to this major OEM. Its demand is estimated to be about 37 million euros in the first year and growing quickly thereafter.

Electrovaya's technology and products are uniquely suited to this electric mobility market as two of the critical performance parameters are highest cycle life and highest safety, both uniquely available from Electrovaya. Electrovaya's proprietary flexible ceramic separator, Separion, provides highest safety in lithium-ion batteries.

"We are pleased with this multiyear MOU, as this was achieved against strong competition, for this globally prominent major OEM in the electric mobility sector," said Fritz Mueller, head of European sales. "Our multicell modules, with laser-welded tabs and built-in sensors, are an attractive product for OEMs, who can use them as building blocks for many diverse battery applications in e-mobility. Our flexible ceramic separator, Separion, imparts outstanding safety to lithium-ion batteries. This MOU further strengthens our reach into multiple industrial sectors and we are pleased in achieving this breakthrough into the electric mobility market with this major OEM."


http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aEFL-2387742&symbol=EFL®ion=C

» zur Grafik

Kostolanys Erbe schrieb am 15.06.2016, 22:30 Uhr[/url]"]Electrovaya to deliver 199 M euros worth of modules



2016-06-15 11:01 ET - News Release



Dr. Rajshekar DasGupta reports

ELECTROVAYA SIGNS A LETTER OF INTENT WITH A MAJOR RESIDENTIAL ENERGY STORAGE PROVIDER FOR DELIVERY OF LITHIUM ION BATTERY MODULES FOR RESIDENTIAL ENERGY STORAGE OVER A PERIOD OF THREE YEARS FOR AN ESTIMATED TOTAL OF UP TO EURO 199 MILLION (US$ 223 MILLION)

Electrovaya Inc. has signed a letter of intent (LOI) with a global original equipment manufacturer (OEM) for the delivery of battery modules for residential energy storage with volume quantity deliveries starting early in the first quarter of 2017. Electrovaya will provide its battery modules with integrated cells and battery management systems (iBMS). Electrovaya's battery modules have unparalleled safety and cycle life performance, which is the critical performance required by the OEM.

The demand for Electrovaya's battery modules by this OEM is estimated to be up to 199 million euros ($288-million or $223-million (U.S.)) over a period of three years. High-volume deliveries are scheduled to start early in the first quarter of 2017 with smaller quantities with delivery in 2016.

Electrovaya's technology and products are uniquely suited to the residential energy storage market as two of the critical performance parameters are highest cycle life and safety, both uniquely available from Electrovaya.

This LOI was signed after intensive testing of the Electrovaya cells and modules by the OEM, who is one of the largest and fastest-growing residential energy storage companies in the world.

"We are very excited with this LOI as this was achieved against intense global competition," said Dr. Rajshekar DasGupta, vice-president of business development at Electrovaya. "Our multicell modules with laser-welded tabs, built-in sensors and iBMS are an attractive product for residential energy storage. Our flexible ceramic separator, Separion, imparts outstanding safety to lithium-ion batteries. This LOI further defines our path to becoming the leading supplier of lithium-ion cells and batteries to this fast-growing industrial sector of residential energy storage."


http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aEFL-2383008&symbol=EFL®ion=C [...]

Kostolanys Erbe schrieb am 03.06.2016, 07:13 Uhr[/url]"]Das nenne ich ...
Charttechnischer Ausbruch !!!!!!!!




http://www.stockwatch.com/Quote/Detail.aspx?symbol=EFL®ion=C

Kostolanys Erbe schrieb am 26.05.2016, 22:40 Uhr[/url]"]:D



Electrovaya signs multiyear deal for battery modules



2016-05-26 14:45 ET - News Release



Dr. Rajshekar Das Gupta reports

ELECTROVAYA SIGNS A MULTIYEAR MASTER SERVICE AGREEMENT WITH A FORTUNE 1000 COMPANY FOR THE SUPPLY OF LITHIUM ION BATTERY MODULES

Electrovaya Inc. has signed a multiyear service agreement with a U.S.-based Fortune 1000 original equipment manufacturer to supply lithium-ion battery modules, battery management systems and related services. The agreement is expected to generate revenues of up to $80-million over the next three years. The revenues from this agreement start in the second quarter of 2016, grow through the rest of 2016 and accelerate in 2017.

The first purchase order from this multiyear service agreement has been received. This Fortune 1000 company is Electrovaya's first major customer for the Litacore1000 module, announced recently. The Litacore1000 module significantly increases the market size for Electrovaya's product offerings as all major original equipment manufacturers can now use the Electrovaya module as a building block for their specific lithium-ion battery application.

The Litacore1000 modules use Litacell40, which delivers industry-leading cycle life and safety.

"We are extremely pleased to receive this multiyear production contract in this fast-growing sector from one the world's leading original equipment manufacturers," said Dr. Rajshekar Das Gupta, vice-president of business development. "Electrovaya received this contract after an intense qualification exercise, against global majors."



http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aEFL-2376868&symbol=EFL®ion=C




» zur Grafik

Kostolanys Erbe schrieb am 17.05.2016, 12:00 Uhr[/url]"]Electrovaya releases modules for lithium-ion batteries



2016-05-16 10:18 ET - News Release



Dr. Rajshekar Das Gupta reports

ELECTROVAYA LAUNCHES ITS 1KWH BATTERY MODULE (LITACORE1000) AND AN INTELLIGENT 48V, 2.3 KWH MODULE (EV4823) AS BUILDING BLOCKS FOR OEMS DESIGNING LITHIUM ION BATTERY SYSTEMS

Electrovaya Inc. has launched a one-kilowatt-hour battery module (Litacore1000) and an intelligent 48-volt, 2.3-kilowatt-hour module (EV4823) as building blocks for lithium-ion battery systems.

The Litacore1000 is a one-kilowatt-hour module with integrated voltage and temperature sensors in an easy-to-handle aluminum case, with laser-welded contacts and features the industry-leading Litacell. This module design allows OEMs (original equipment manufacturers) an easy building block for constructing lithium-ion battery systems.

The EV4823 is a 48-volt, 2.3-kilowatt-hour module with an integrated intelligent battery management system complete with Canbus communications. This 48-volt, 2.3-kilowatt-hour module design allows OEMs to use these modules for myriad applications in energy storage and emobility sectors.

These two products increase Electrovaya's product line from electrodes, separators and cells by now adding higher-value-added systems. OEMs can easily use these modules as building blocks to build complete battery systems for different applications. Electrovaya new product offerings are differentiated from competitors through the use of Litacells, enabling higher cycle life and higher safety, two critical factors for OEMs in lithium-ion batteries.

The new modules promise extraordinary cycle and calendar life, unique safety properties due to the unparalleled stability of Separion, the flexible ceramic separator membrane, and highest-quality standards. The integrated Litacells contain optimized NMC/graphite-based (lithium nickel manganese cobalt oxide) electrode chemistry.

"The one-kilowatt-hour Litacore1000 and 2.3-kilowatt-hour EV4823 intelligent modules are now available to OEMs in Europe, North America and elsewhere, where the market demands highest safety and lowest holistic lithium-ion costs," says Dr. Rajshekar Das Gupta, vice-president of business development at Electrovaya. "These products enable OEMs to seamlessly use them as building blocks for lithium-ion battery systems for diverse electric vehicle and energy storage markets, and usage will rapidly grow later this year as these products are qualified by increasing numbers of OEMs," says Dr. Das Gupta.


http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aEFL-2373705&symbol=EFL®ion=C







Electrovaya loses $3.09-million (U.S.) in fiscal Q2



2016-05-13 17:00 ET - News Release



Dr. Sankar Das Gupta reports

ELECTROVAYA REPORTS Q2 FY2016 REVENUE UP 650% OVER Q2 FY2015

Electrovaya Inc. has released its second quarter financial results for the quarter ending March 31, 2016. All numbers are in U.S. dollars.

Financial highlights:

Revenues -- second quarter 2016 revenue was $4.3-million ($5.6-million (Canadian)), a growth of 653 per cent over second quarter 2015 revenue of $600,000 ($800,000 (Canadian));
Cash from operating activites -- in the second quarter of 2016, generated $1.8-million cash ($2.3-million (Canadian)) from operating activities, compared with negative $900,000 ($1.2-million (Canadian)) for second quarter 2015;
Net working capital increases -- net working capital was $10.8-million ($14-million (Canadian)) at March 31, 2016, compared with negative $3.9-million ($5.1-million (Canadian)) at March 31, 2015;
Cash balance -- March 31, 2016, cash balance was $4.3-million ($5.6-million (Canadian)), as compared with $700,000 ($900,000 (Canadian)) at March 31, 2015, and $3.3-million ($4.3-million (Canadian)) at Dec. 31, 2015.


Business highlights:

Announcements:

The announcement of a $4.2-million ($5.4-million (Canadian)) contract for the supply of lithium-ion cells (40 ampere hours) for energy storage;
Electrovaya has been showcasing its technologies at a number of industry events in Europe, North America and Asia.


Product development and investment in research and development (R&D):

The company continues to invest heavily in new product development, innovative chemistries and solutions for key vertical markets. This intense product innovation is being built upon the fundamental technology breakthroughs in Canada and Germany, and leading to a number of new applications in electromobility and energy storage industries.

Commenting on the results, Electrovaya's executive vice-president and chief financial officer, Richard Halka, stated: "We are pleased with the Q2 results. We are carefully managing our cash and working capital positions, while at the same time investing in business development and new product opportunities. We are building a scalable and sustainable growth model."

Dr. Sankar Das Gupta, chairman and chief executive officer, stated: "Electrovaya is committed to being at the forefront of the energy storage market with superior products and technologies. We have invested 42 per cent of sales in R&D to tailor those products to specific verticals and markets, and we will continue to develop new and innovative solutions leveraging our position of leadership in cost, safety and cycle life."

Conference call details:

The company will hold a conference call on Monday, May 16, 2016, at 8 a.m. ET to discuss the second quarter 2016 results for the period ended March 31, 2016, and to provide a business update.


Conference ID: 13637632

United States and Canada toll-free: 877-407-8291

International: 1-201-689-8345


To help ensure that the conference begins in a timely manner, please dial in 10 minutes prior to the start of the call.

For those unable to participate in the conference call, a replay will be available for two weeks beginning on May 16, 2016, through May 30, 2016. To access the replay, the U.S. dial-in number is 877-660-6853 and the non-U.S. dial-in number is 1-201-612-7415. The replay conference ID is 13637632.

Financial summary:

The company's complete second quarter 2016 financial statements and management's discussion and analysis are available on SEDAR and on the company's website.

FINANCIAL HIGHLIGHTS FOR THE THREE MONTHS ENDED MARCH 31
(in thousands of U.S. dollars)

Q2 2016 Q2 2015

Revenue $ 4,317 $ 573
Adjusted EBITDA(1) (2,421) (1,112)
Net earnings (loss) attributable to
common shareholders (3,099) (955)
Cash and cash equivalents -- March 31 4,288 721

(1) Adjusted EBITDA (earnings before interest, taxes, depreciation and
amortization) does not have a standardized meaning under IFRS
(international financial reporting standards). Therefore, it is unlikely
to be comparable with similar measures presented by other issuers. The
company defines adjusted EBITDA as gain from operations less stock-based
compensation expense, finance cost and amortization. The company
believes that certain investors and analysts use adjusted EBITDA to
measure the performance of the business.



http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aEFL-2373418&symbol=EFL®ion=C

Rookie schrieb am 15.04.2016, 16:11 Uhr[/url]"]Ist mir zu teuer, hab nur zwischen 0,05 und 0,30 Eur gekauft

Kostolanys Erbe schrieb am 15.04.2016, 13:20 Uhr[/url]"]Wenn ihr soviel Werte über Lithium bespricht, dann finde ich persönlich

EFL (Electrovaya) sehr interessant! Die ist auch ein bisschen "Made in Germany" !!!

Zum Verkleinern anklicken...

Zum Verkleinern anklicken...

Zum Verkleinern anklicken...

Zum Verkleinern anklicken...

Zum Verkleinern anklicken...

Zum Verkleinern anklicken...

Zum Verkleinern anklicken...

Zum Verkleinern anklicken...

Zum Verkleinern anklicken...

 

[Kostolanys Erbe]

Präsentation Stand Mai 2016:

http://www.electrovaya.com/pdf/marketing/Electrovaya_presentation.pdf

 

[Kostolanys Erbe]

Electrovaya closes $10-million (U.S.) loan



2016-09-19 11:23 ET - News Release



Mr. Richard Halka reports

ELECTROVAYA COMPLETES US $10 MILLION WORKING CAPITAL FACILITY AGREEMENT WITH A MAJOR CANADIAN CHARTERED BANK AND ALSO IS DEPOSITORY TRUST COMPANY (DTC) ELIGIBLE FOR ONLINE TRADING AT OTCQX

Electrovaya Inc. has closed the loan agreement and drawn the first tranche of $5.3-million (U.S.) on the $10-million (U.S.) ($13-million) credit facility with a top three Canadian chartered bank. Further funds can be drawn at the company's discretion within the terms of the agreement.

Commenting on the availability of the facility, Richard Halka, Electrovaya's executive vice-president and chief financial officer, stated: "The bank conducted an extremely thorough due diligence focusing on our recently announced agreements in Canada and Germany, including a legal review of all assets, patents and liabilities. We are very pleased that we now have the ability to draw the funds as necessary to finance our working capital and production growth."

Electrovaya also completed the Depository Trust Company (DTC) eligibility requirements and Electrovaya's stocks are now qualified to be held at DTC and traded through DTC's electronic book-entry system. This means most retail and other investors in the United States and elsewhere can freely trade Electrovaya shares on-line through the OTCQX Best Market under the symbol EFLVF. Electrovaya continues to be traded on the main board of the Toronto Stock Exchange under the symbol EFL.

http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aEFL-2407697&symbol=EFL&region=C

 

[Kostolanys Erbe]

Electrovaya to design battery modules for unnamed OEM



2016-09-20 07:06 ET - News Release



Dr. Rajshekar Das Gupta reports

ELECTROVAYA SIGNS CONTRACT WITH A NYSE FORTUNE 1000 COMPANY FOR THE DESIGN AND DEVELOPMENT OF LITHIUM-ION BATTERIES FOR A RANGE OF ELECTRO-MOBILITY PRODUCTS

Electrovaya Inc. has signed a service agreement with a New York Stock Exchange-listed Fortune 1000 OEM (original equipment manufacturer) for the design, development and manufacture of battery modules for a range of the OEM's electromobility products. The project commences immediately and will progress through 2017 with large-volume commercial production starting in late 2017. The initial purchase order for the development contract has been received by Electrovaya. This is the second NYSE-listed Fortune 1000 company that has chosen to work with Electrovaya's batteries.

Electrovaya's technology and products are uniquely suited to this speciality subsector in electric mobility, as it meets two of the critical performance parameters needed from lithium-ion batteries. They are to achieve the highest level of safety and highest cycle life, both uniquely available from Electrovaya.

"This represents an exciting new application based around our lithium-ion cell and module products," said Dr. Rajshekar Das Gupta, vice-president, business development, Electrovaya. "This service agreement takes us into a new business sector, where there is a need for rapid transformation from diesel- or lead-acid-powered products to lithium-ion battery power. We are especially pleased to work with the U.S.-based global leader in this sector," added Dr. Das Gupta.

http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aEFL-2407867&symbol=EFL&region=C

 

[Kostolanys Erbe]

Electrovaya firms up battery module supply deal



2016-10-19 08:20 ET - News Release



Dr. Rajshekar DasGupta reports

ELECTROVAYA SIGNS SUPPLY AGREEMENT AND A STRATEGIC SUPPLIER AGREEMENT WITH A GLOBAL OEM FOR RESIDENTIAL ENERGY STORAGE APPLICATIONS

Electrovaya Inc. and its wholly owned subsidiary, Litarion GmbH, have signed a strategic supplier agreement and a supply agreement with a global original equipment manufacturer, which is one of the market leaders for residential energy storage. The agreements follow the press release of Electrovaya dated June 15, 2016, announcing the letter of intent, which letter of intent was further described in Electrovaya's press release dated Aug. 11, 2016, under the second bullet following the heading business highlights.

Electrovaya will supply 48-volt Litastore battery modules to the global OEM if, as and when the global OEM delivers purchase orders under the agreements. Prior to the execution of the agreements, Electrovaya completed, shipped and billed the global OEM for prototypes delivered by Electrovaya.

The supply agreement contains tiered volume and pricing. Should the maximum volume anticipated in the volume pricing schedule be achieved this would result in 199 million euros being the potential value of the agreement over a three-year period. There is no assurance, however, that the global OEM will order nor Electrovaya supply to this extent.

Electrovaya's technology and products are uniquely suited to the fast-growing residential energy storage market as two of the critical performance parameters are highest cycle life and safety, both uniquely available from Electrovaya.

"We are very excited with this contract, as this was achieved against intense global competition and with a fast-growing leader in residential energy storage," said Dr. Rajshekar DasGupta, vice-president of business development at Electrovaya. "Our Litastore line of modules powered by our latest LC-44 cells are an attractive product for residential energy storage due to class leading cycle life, performance and safety."

Company business update

The following is an update on some of the other recent business developments previously announced by Electrovaya.

On May 26, 2016, Electrovaya announced the signing of a master service agreement with a Fortune 1000 New York Stock Exchange-listed company and estimated potential revenues of up to $80-million (U.S.) over a three-year period under such contract (Hyster Yale agreement). On Sept. 15, 2016, Electrovaya issued a press release which identified the customer as Hyster Yale, a leading electric forklift manufacturer. The estimated revenue and volumes disclosed by Electrovaya in its earlier press release were based upon Hyster-Yale's expectations and forecasts for end-customer sales of new lithium-ion forklift products. Electrovaya's estimated revenue from Hyster Yale is dependent on Hyster Yale's ability to generate sales of its lithium-ion-based forklifts and to order products from Electrovaya in connection with such sales. The agreement with Hyster Yale does not provide for a minimum contracted volume nor have firm irrevocable commitments been obtained from Hyster Yale.

On June 14, 2016, Electrovaya announced a non-binding memorandum of understanding with a European original equipment manufacturer, a battery assembler for electric buses which has manufacturing plants in both Europe and China. Electrovaya and the potential customer are engaged in negotiations toward a definitive agreement. The MOU contains certain indicative fundamental terms (price and maximum volume discount) agreed by the parties. The MOU is for a product that is not a standard product of Electrovaya and, accordingly, Electrovaya is currently engaged in the production of prototype products for this potential customer in order to be in a position to execute a definitive agreement once terms are agreed. Electrovaya anticipates the definitive agreement will be consistent with the indicative fundamental terms contained in the MOU; however, there is no assurance a binding agreement will be entered into or if entered into will be on the terms contained in the MOU. The potential estimated revenues of 11 million euros for 2017 previously disclosed by Electrovaya were based upon the customer's expectations regarding end customer sales of the product. Neither the MOU nor any definitive agreement is expected to provide for a minimum contracted volume or firm irrevocable commitment.

On July 6, 2016, Electrovaya/Litarion announced a non-binding MOU with an international original equipment manufacturer. The MOU contains certain indicative fundamental terms (price and maximum volume discount) agreed to by the parties. A working group has been set up with key personnel from both organizations to collaborate on specification, development, prototyping and testing. Electrovaya anticipates that the definitive agreement will be consistent with the MOU; however, there is no assurance a binding agreement will be entered into or, if entered into, will be on the terms contained in the MOU. Development work is being done by both sides and commercialization is expected to start in calendar year 2017. If a definitive agreement is executed, Electrovaya would be a component supplier to the international OEM's electric vehicle and the actual revenues of Electrovaya will be dependent on the success of the international OEM's electric vehicle in the market and the international OEM ordering the products of Electrovaya. Neither the MOU nor is it expected that any definitive agreement will provide for a minimum contracted volume or firm irrevocable commitment. The international OEM has a large internal fleet demand for electric vehicles as well as external demands. Based upon the customer's expectations regarding end customer sales of the product, Electrovaya's potential revenues from this international OEM are estimated to be up to 37 million euros in 2017, with the actual revenues dependent on the international OEM's commercialization of the electric vehicle with Electrovaya's products for both its internal fleet usage and external sales.

Electrovaya designs, develops and manufactures proprietary lithium-ion superpolymer batteries, battery systems and battery-related products for energy storage, clean electric transportation and other specialized applications. Electrovaya, through its fully owned subsidiary, Litarion GmbH, also produces cells, electrodes and Separion ceramic separators and has manufacturing capacity of about 500 megawatt-hours/annum.


http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aEFL-2413735&symbol=EFL&region=C

 

[Kostolanys Erbe]

Electrovaya rehashes battery development, supply deals



2016-11-08 18:02 ET - News Release



An anonymous director reports

ELECTROVAYA PROVIDES BUSINESS UPDATE

Electrovaya Inc. is providing the following update on business developments previously disclosed by Electrovaya. Some of the items herein were described in the press release of Electrovaya dated Oct. 19, 2016, and are being restated for completeness in one document. This press release is being issued by Electrovaya in connection with a disclosure review undertaken by the Ontario Securities Commission in connection with the filing by Electrovaya of a preliminary short-form base-shelf prospectus dated Sept. 21, 2016.

On May 26, 2016, Electrovaya announced the signing of a master service agreement with a Fortune 1000 New York Stock Exchange-listed company and estimated potential revenues of up to $80-million (U.S.) over a three-year period under such contract (the Hyster-Yale agreement). On July 26, 2016, Electrovaya issued a press release announcing that it had commenced receiving purchase orders under the Hyster-Yale agreement. On Sept. 15, 2016, Electrovaya issued a press release, which identified the customer as Hyster-Yale, a leading electric forklift manufacturer. The forward-looking estimated revenue and volumes disclosed by Electrovaya in its earlier press releases were based upon the customer's expectations and forecasts for end customer sales of new lithium-ion forklift products. Electrovaya's estimated revenue from the customer is dependent on the customer's ability to generate sales of its lithium-ion-based forklifts and to order products from Electrovaya in connection with such sales. The Hyster-Yale agreement does not provide for a minimum contracted volume nor have firm irrevocable commitments been obtained from the customer. As with any new program, Electrovaya is in the ramp-up and prototyping phase under the Hyster-Yale agreement, and accordingly, the amount of orders placed under the Hyster-Yale agreement to date is deminimis. However, as previously disclosed by Electrovaya, Electrovaya expects that sales under the Hyster-Yale agreement will accelerate over calendar year 2017 once the initial ramp-up phase under the Hyster-Yale agreement is completed.

On June 14, 2016, Electrovaya announced a non-binding memorandum of understanding with a European original equipment manufacturer, a battery assembler for electric buses, which has manufacturing plants in both Europe and China. Electrovaya and the potential customer are engaged in negotiations toward a definitive agreement. The MoU contains certain indicative fundamental terms (price and maximum volume discount) agreed by the parties. The MoU is for a product that is not a standard product of Electrovaya, and accordingly, Electrovaya is currently engaged in the production of prototype products for this potential customer to be in a position to execute a definitive agreement once terms are agreed on. Electrovaya anticipates the definitive agreement will be consistent with the indicative fundamental terms contained in the MoU; however, there is no assurance a binding agreement will be entered into or, if entered into, will be on the terms contained in the MoU. The forward-looking potential estimated revenues of 11 million euros for 2017 previously disclosed by Electrovaya were based upon the customer's expectations regarding end customer sales of the product. Neither the MoU nor any definitive agreement is expected to provide for a minimum contracted volume or firm irrevocable commitment.

On July 6, 2016, Electrovaya/Litarion announced a non-binding MoU, with an international original equipment manufacturer. The MoU contains certain indicative fundamental terms (price and maximum volume discount) agreed to by the parties. A working group has been set up with key personnel from both organizations to collaborate on specification, development, prototyping and testing. Electrovaya anticipates that the definitive agreement will be consistent with the MoU; however, there is no assurance a binding agreement will be entered into or, if entered into, will be on the terms contained in the MoU. Development work is being done by both sides, and commercialization is expected to start in calendar year 2017. If a definitive agreement is executed, Electrovaya would be a supplier to the international OEM's electric vehicle, and the actual revenues of Electrovaya will be dependent on the success of the international OEM's electric vehicle in the market and the international OEM ordering the products of Electrovaya. Neither the MoU, nor it is expected that any definitive agreement will provide for a minimum contracted volume or firm irrevocable commitment. The international OEM has a large internal fleet demand for electric vehicles, as well as external demands. Based upon the customer's expectations regarding end customer sales of the product, Electrovaya's forward-looking potential revenues from this international OEM are estimated to be up to 37 million euros in 2017, with the actual revenues dependent on the international OEM's commercialization of the electric vehicle with Electrovaya's products for both its internal fleet usage and external sales.

On Sept. 20, 2016, Electrovaya announced it signed a service agreement with an NYSE Fortune 1000 OEM. This service agreement is for the design and development of battery modules for a range of the NYSE Fortune 1000 OEM's electromobility products. Volume manufacturing and commercial production are subject to Electrovaya and the NYSE Fortune 1000 OEM entering into a definitive supply agreement and the customer providing Electrovaya with orders thereunder. Accordingly, there is no assurance that large-volume commercial production will start in late 2017.

On Oct. 19, 2016, Electrovaya announced that it entered into a strategic supplier agreement and a supply agreement with a global original equipment manufacturer. The agreements follow the earlier announced letter of intent in June, 2016. Electrovaya will supply 48-volt Litastore battery modules to the Global OEM if, as and when the global OEM delivers purchase orders under the agreements. Prior to the execution of the agreements, Electrovaya completed, shipped and billed the global OEM for prototypes delivered by Electrovaya. The agreements contain tiered volume and pricing. Should the forward-looking maximum volume anticipated in the volume pricing schedule be achieved, this would result in 199 million euros being the potential value of the agreement over a three-year period. There is no assurance, however, that the global OEM will order, nor Electrovaya supply to this extent. On Oct. 31, 2016, Electrovaya received from the global OEM a 6.9-million-euro purchase order for delivery of battery modules in the first half of 2017.

With the introduction of Electrovaya's new battery module, Litacore1000, as announced by Electrovaya on May 16, 2016, Electrovaya's focus moved from component sales to battery module and system sales, as indicated in the Aug. 11, 2016, third quarter financial results announcement. This change in focus, accompanied by deferral of deliveries for battery components requested by customers, as noted in management's discussion and analysis of Electrovaya for the quarter ended June 30, 2016, resulted in a decrease in the third quarter ended June 30, 2016, revenue and also impacted future revenue from two contracts previously announced.

With respect to the lithium-ion product supply contract announced by Electrovaya on Sept. 1, 2015, Electrovaya estimated on such date that the value over the life of the contract (being three years and eight months) to be 18.5 million euros, based on the orders under the battery component contract advised by the customer. From Sept. 1, 2015, to June 30, 2016, Electrovaya recorded 1.7 million euros of revenue under the battery component contract. However, as noted in management's discussion and analysis of Electrovaya for the quarter ended June 30, 2016, the customer requested a deferral of deliveries under the battery component contract. Following this request for deferral, Electrovaya and the customer amended the battery component contract to include a firm commitment by the customer to order 1.3 million euros of products prior to September, 2017, and provide the customer an option to order additional products above this committed amount. This deferral of the firm orders may have a material and adverse impact on the future optional orders, if any, under the contract. As the customer has not provided a revised forecast of orders to Electrovaya, Electrovaya is not at this time able to provide an updated estimate as to the value of the remaining potential orders under the battery component contract, nor is there any assurance Electrovaya will accept such orders if received. Electrovaya's estimated revenue from the customer is dependent on the customer's ability to generate sales to its customers.

With respect to the lithium-ion-cell purchase order announced by Electrovaya in January, 2016, Electrovaya received a purchase order from a North American distributor for approximately $16-million (U.S.) with deliveries through to March, 2017. From Jan. 1, 2016, to June 30, 2016, Electrovaya recorded $1.6-million (U.S.) of revenue under the purchase order. However, as noted in management's discussion and analysis of Electrovaya for the quarter ended June 30, 2016, the customer requested a deferral of further deliveries with no time frame specified. This deferral of the firm orders may have a material and adverse impact on the future orders, if any, under the contract. There is no assurance further deliveries will be requested nor accepted by Electrovaya if a request is received.

Electrovaya announced on June 2, 2015, that it had received an order for Separion from a leading Chinese battery company. This order was fulfilled; however, Electrovaya subsequently determined that Separion provided it with a key competitive advantage in terms of safety and cycle life. As such, no further orders for Separion were accepted, nor is it likely any will be accepted as Electrovaya pursues a strategy to keep Separion proprietary to its own products.

Electrovaya also announces that it filed material change reports today with respect to its press releases dated July 26, 2016, and Sept. 20, 2016.

Electrovaya is also clarifying certain information which was contained in its previously filed annual information form dated Dec. 1, 2015.

The order to supply prototype battery packs for DongFeng Motors in China (announced by Electrovaya on Jan. 15, 2013) was completed, and Electrovaya does not expect any future revenues from DongFeng Motors.

Electrovaya had a research and demonstration program with Chrysler, which was partially financed by the U.S. Department of Energy (as announced by Electrovaya on March 24, 2010). The program enabled the development of plug-in hybrid Ram trucks and minivans, where Electrovaya supplied the complete battery system. Chrysler did not pursue the commercialization of this project, and Electrovaya ceased work on this project.

In mid- to late November, 2016, Electrovaya will be filing an amended and restated annual information form dated Dec. 1, 2015, to, among other things: (i) satisfy form requirements, (ii) clarify certain disclosure in the prior annual information form, including removing outdated or unnecessary disclosure, (iii) include appropriate guidance regarding forward-looking statements, and (iv) include appropriate risk factors.

About Electrovaya

Electrovaya designs, develops and manufactures proprietary lithium-ion superpolymer batteries, battery systems and battery-related products for energy storage, clean electric transportation and other specialized applications. Electrovaya, through its fully owned subsidiary, Litarion GmbH, also produces cells, electrodes and Separion ceramic separators and has manufacturing capacity of about 500 megawatt-hours per annum. Electrovaya is a technology-focused company with extensive patents and other intellectual property.

http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aEFL-2419455&symbol=EFL&region=C

 

[Kostolanys Erbe]

Electrovaya launches battery product for forklifts



2016-11-14 09:23 ET - News Release


An anonymous director reports

ELECTROVAYA LAUNCHES BATTERY PRODUCT LINE FOR FORKLIFT MARKET


Electrovaya Inc. has launched its new lithium-ion ceramic product line for the Class 1 and Class 2 forklift markets. This market is heavily dominated by lead-acid battery solutions that cannot keep up with the demands of today's warehouse and logistics environments. Increased demands on operational efficiency, 24-hour operations and more advanced vehicles make a case for better energy solutions. The product line, which is branded ELivate, will leverage Electrovaya's lithium-ion ceramic battery technology that offers up to six times the lifecycle of existing lead-acid solutions and up to twice the lifecycle of lithium-ion products. Additionally, the safety provided by SEPARION ceramic separator technology provides users with confidence in implementing a new technology in their operations.

The ELivate product line is being introduced with 36V followed by 48V models for Class 1 and Class 2 forklifts. To take advantage of the added performance and safety of Electrovaya's technology, the target application is heavy-duty users such as 24/7 distributions centres. The product is market-ready, and Electrovaya has started initial trials at multiple customer sites.

Further information on the product lineup and benefits of Electrovaya's product are available on its website.

We seek Safe Harbor.

© 2016 Canjex Publishing Ltd. All rights reserved.


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[Kostolanys Erbe]

Electrovaya loses $8.8-million (U.S.) in fiscal 2016



2016-12-28 18:26 ET - News Release


Dr. Sankar Das Gupta reports

ELECTROVAYA REPORTS FINANCIAL RESULTS FOR FISCAL 2016

Electrovaya Inc. has released its financial results for the fiscal year ended Sept. 30, 2016. All numbers are in U.S. dollars unless otherwise stated.

Financial highlights:

Fiscal 2016 revenue is $19.5-million ($26.4-million (Canadian)) for the year ended Sept. 30, 2016, a 17.5-per-cent increase over fiscal 2015 revenue of $16.6-million ($22.5-million (Canadian)).
The net loss for fiscal 2016 is $8.8-million ($11.9-million (Canadian)) compared with the net loss for fiscal 2015 of $3.2-million ($4.3-million (Canadian)). This increase in net loss of $5.6-million ($7.6-million (Canadian)) was mainly attributed to:
Increased research investment to develop the high-value and easily usable battery modules, battery management systems (BMS) and systems engineering for multiple original equipment manufacturer (OEM) customers, which resulted in an increase in research and development expenditures of $1.6-million ($2.2-million (Canadian));
Significant non-cash expenses in the fourth quarter at the company's German operations of $3.8-million ($5.2-million (Canadian)) including a provision for inventory revaluation and obsolescence of $1.3-million ($1.8-million (Canadian)) and an allowance for credit losses of $2.5-million ($3.4-million (Canadian)) as the company's German operations transitioned from component sales to valued-added products.
Inventory is $18.2-million ($24.7-million (Canadian)) as at Sept. 30, 2016, of which $8.1-million ($11.0-million (Canadian)) is in finished goods and $5.9-million ($8.0-million (Canadian)) in semi-finished goods as the company prepares to meet confirmed forward orders for fulfilment in 2017.
Business highlight

Fiscal 2016 was pivotal for Electrovaya as the company developed its value-added products and several major OEM customers/relationships. These developments, although, not significant in fiscal 2016 revenue, are expected to have a strong influence on calendar year 2017 revenue. The company is focusing on applications where its competitive advantage is more accentuated, namely applications that have higher duty cycles and greater requirements for cycle life and safety.

Business highlights by target industrial sectors:

Miscellaneous sales of cells: Certain battery and other companies have purchased cells and components, which provided revenues in fiscal 2016. These revenues are expected to continue; however, the company does not expect significant growth in this sector. Growth in calendar year 2017 onward is expected to come from recent activities and product launches in newly targeted industrial sectors as mentioned below.
Residential energy storage sector: Electrovaya in May, 2016, announced its intelligent 48-volt, 2.3-kilowatt-hour module (Litastore 2.3), with an integrated BMS as building blocks for OEMs. Electrovaya signed a non-binding letter of intent with a major residential-energy-storage OEM in June, 2016, followed by signing a multiyear strategic supplier agreement in October, 2016, and received a purchase order for about 6.9 million euros ($7.2-million) in November, 2016.
Material-handling sector sales to OEM: Electrovaya announced in May, 2016, a multiyear master service agreement (MSA) with a New York Stock Exchange Fortune 1000 OEM for the supply of lithium ion battery modules. Initial functional product deliveries have started under this MSA with Hyster-Yale.
Material-handling sector sales directly to the end-user: Electrovaya announced on Nov. 14, 2016, battery products for the forklift material-handling market, which can be delivered directly to the forklift user and are a drop-in replacement for the user's lead acid battery. Trials are under way with multiple users in this sector.
Electric bus sector: Electrovaya's subsidiary Litarion in June, 2016, announced a non-binding memorandum of understanding with a leading European OEM, with operations in Europe and Asia, to deliver lithium ion cells for electric buses. The development work is continuing.
Electric-mobility and electric delivery truck sector: Electrovaya's subsidiary Litarion in July, 2016, signed a non-binding MOU with a major global OEM in the electro-mobility industry, for the delivery of lithium ion battery cells and modules later in calendar year 2017. Development work on this project is continuing. Electrovaya has started working with other companies in this sector, including, as announced in September, 2016, an NYSE Fortune 1000 company, where Electrovaya is designing, under a purchase order, the complete battery system for integration into the OEM's off-road electric vehicle.
Utility and grid-connected systems: The system for ConEdison will have cells with the Separion ceramic-embedded separator to give longer cycle life and higher safety to the system. The Electrovaya system will also have the latest battery management system with advanced capabilities. The system is expected to be delivered by first half 2017.
Other market developments

Marketing developments in addition to the above are:

Branding: A new website was launched in August, 2016. The ceramic separator technology is a key differentiator, and often the Electrovaya battery is named as the lithium ion ceramic battery.
Trade shows, expositions and financial conferences: Electrovaya showcased its technology in key trade shows in Europe, North America and Asia. The trade shows were in sectors, including utility energy storage, electric mobility, solar energy, alternative energy, materials handling and batteries. In the financial sector, Electrovaya spoke at the Barclays Energy Revolution Conference, Exane BNP Paribas's disruptive technology, Berenberg's battery conference and Canaccord Genuity's growth conference and attended the Roth New Industrial Conference.
Technology developments

Electrovaya's research group continued to develop technology in a number of areas:

Cell energy density: A continuous development program is under way to increase the energy density of its cells, and in August, 2016, a 44Ah cell was announced, which increased the energy density of the 40Ah cell announced earlier in November, 2015. A road map for continual increase in energy density is an important research objective for Electrovaya.
Product innovation: A range of products, including a one-kilowatt-hour module and a 2.3-kilowatt-hour 48-volt Litastore module, as well as a 36-volt forklift battery system, was developed.
A 20-micron Separion: A thinner ceramic-embedded separator was developed.
Intelligent battery management systems (iBMS) have been developed and are continuously updated to provide good control and monitoring of the Electrovaya batteries. This also positions Electrovaya for Internet-of-thing capability.
Commenting on the results, Electrovaya executive vice-president and chief financial officer Richard Halka stated: "FY2016 has been transitional for us, the critical element being our working capital facility, which we expect will allow us to expand production and grow sales. Our inventory is at levels where we can execute on planned deliveries."

"FY2016 has been an important pivotal year, and Electrovaya, with its new products, growth in relationships and emphasis on new markets, is well positioned to grow from CY2017," said Dr. Sankar Das Gupta, chair and chief executive officer of Electrovaya.

In fiscal 2016, the company's long-term board member, Dr. Bernard Fleet, PhD, DSc, FRSC, passed away. The company will all miss Dr. Fleet's great passion for climate-change mitigation, for electric vehicles and electrochemistry, along with his inimitable sense of humour and sage advice.

The company's complete annual audited financial statements, management's discussion and analysis, and annual information form for the year ended Sept. 30, 2016, are available at SEDAR or on the company's website.

Conference call details

The company will hold a conference call on Dec. 29, 2016, at 8 a.m. Eastern Time (ET), to discuss the fiscal 2016 results for the period ended Sept. 30, 2016, and to provide a business update.

Conference ID: 13652135

United States and Canada toll-free: 877-407-8291

International: 1-201-689-8345

To help ensure that the conference begins in a timely manner, please dial in 10 minutes prior to the start of the call.

For those unable to participate in the conference call, a replay will be available for two weeks beginning on Dec. 29, 2016, through Jan. 12, 2017. To access the replay, the U.S. dial-in number is 877-660-6853 and the non-U.S. dial-in number is 1-201-612-7415. The replay conference ID is 13652135.

About Electrovaya

Electrovaya designs, develops and manufactures proprietary lithium ion superpolymer batteries, battery systems and battery-related products for energy storage, clean electric transportation and other specialized applications. Electrovaya, through its fully owned subsidiary, Litarion GmbH, also produces cells, electrodes and Separion ceramic separators and has manufacturing capacity of about 500 megawatt-hours per annum. Electrovaya is a technology-focused company with extensive intellectual property. Headquartered in Ontario, Canada, Electrovaya has production facilities in Canada and Germany with customers around the globe.

We seek Safe Harbor.

http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aEFL-2433392&symbol=EFL&region=C

 

[Kostolanys Erbe]

Electrovaya loses $2.4-million (U.S.) in Q1



2017-02-13 18:03 ET - News Release




Mr. Richard Halka reports

ELECTROVAYA REPORTS FINANCIAL RESULTS FOR Q1 2017

Electrovaya Inc. is releasing its financial results for the fiscal quarter ending Dec. 31, 2016. All numbers are in U.S. dollars.

Financial highlights

This reporting quarter, first quarter (Q1) of fiscal year (FY) 2017 (fourth quarter (Q4) of calendar year (CY) 2016), was part of the transition period as the company and its OEM (original equipment manufacturer) partners develop new products and markets based on the company's lithium-ion batteries:

Q1 2017 revenue is $1.1-million ($1.4-million (Canadian)) for the quarter ended Dec. 31, 2016, compared with Q1 2016 revenue of $8.2-million ($10.8-million (Canadian)).
The net loss for Q1 2017 is $2.4-million ($3.2-million (Canadian)), compared with the net profit for Q1 2016 of $3.3-million ($4.3-million (Canadian)).
Cash and restricted cash totalled $5.4-million ($7.1-million (Canadian)) as at Dec. 31, 2016, compared with $3.3-million ($4.3-million (Canadian)) at Dec. 31, 2015.
Inventory is $17.9-million ($23.5-million) as at Dec. 31, 2016, as compared with $9.8-million ($12.9-million (Canadian)) for Dec. 31, 2015.
Business highlights

The business focus is on industrial applications where the lithium-ion battery is extensively used and requires high performance. Some of these industrial sectors where the company is focusing have been announced earlier and they are:

Battery assemblers: miscellaneous sales of cells and modules; certain battery assemblers use the company's products and those relationships continue;
Materials handling sector sales to OEM: Electrovaya works on a multiyear master service agreement (MSA) with an NYSE Fortune 1000 OEM continues. A second major OEM in the materials handling sector has now started trials with the Electrovaya battery;
Materials handling sector sales directly to the end user: Electrovaya announced on Nov. 14, 2016, battery products for the forklift materials handling market which can be delivered directly to the forklift user and is a drop-in replacement for the user's lead acid battery. Trials are now under way with multiple users in this sector;
Electric bus sector: A number of analysts have identified the electric bus sector as an important application for lithium-ion batteries. Electric buses work multiple shifts and are usually diesel powered. Cities are planning to move away from having polluting diesel fleets and replace them with full electric buses. Growth in this business is in Asia and Europe. Electrovaya is working in this sector with an OEM battery assembler and that development work is continuing;
Residential energy storage sector: Certain jurisdictions are showing interest in this niche sector. Electrovaya has clients and module based products in this sector;
Electric-mobility and electric delivery truck sector: Electric delivery trucks are an attractive sector for full electric vehicles. Electric delivery trucks work eight to 12 hours a day and usually operate in the inner core of cities with frequent stops. There are strong incentives to move from petrol- and diesel-powered vehicles to full electric. Electrovaya believes this is an important industrial sector, and, as earlier announced, Electrovaya is working with an OEM in this sector. Development work on this project is continuing. Electrovaya has started working with other companies in this electro-mobility sector and, as announced earlier, is working with another Fortune 1000 NYSE company where Electrovaya is designing the complete battery system for integration into the OEM's off-road electric vehicle;
Utility and grid connected systems: The system for ConEdison will have cells with the Separion ceramic embedded separator to give longer-cycle life and higher safety to the system.
Other business developments

Other business developments in Q1 FY 2017 are:

Personnel: Murray Pickrem joined the company as director of sales, United States. Mr. Pickrem has extensive experience in sales in the materials handling sector. Additionally, the company is adding more senior staff with experience in engineering, project management and NPI (new product introduction), and also augmenting its sales team in Germany and North America.
Trade shows, expositions and financial conferences: Electrovaya presented its technology in key trade shows, including Euro Bus Expo in the United Kingdom and Cargo Logistics in Vancouver, B.C. (February, 2017). In the financial sector, Electrovaya spoke at the Barclays Energy Revolution Conference in December, 2016, Exane BNP Paribas's Disruptive Technology in December, 2016, and also attended the Roth New Industrial Conference in New York in December, 2016. Electrovaya presented at the German Batterie Forum in Berlin and at the Canadian Power Finance Conference in Toronto, both in January, 2017.
Technology developments

Electrovaya's research group continues to develop technology in a number of areas:

Cell energy density: A continuous development program is under way to increase the energy density of its cells, and in August, 2016, a 44Ah cell was announced, which increased the energy density of the 40Ah cell announced earlier in November, 2015. A road map for continual increase in energy density is an important research objective for Electrovaya and the next-generation cell with higher energy density is expected to be launched in calendar year 2018.
Safety: Safety is becoming an important challenge in lithium-ion batteries and a key differentiating factor with customers. Next-generation lithium-ion cells with higher energy density have greater propensity for safety incidents. Electrovaya's ceramic separator, Separion, is an important technology for enhancing safety.
Systems design and NPI: Large efforts continue in this area as the demand for complete systems in different applications needs different engineering system design and optimized performance parameters.
Commenting on the results, Electrovaya executive vice-president and chief financial officer Richard Halka stated: "In Q1 FY 2017, we have not seen the impact on revenue from our 2016 initiatives. As indicated under the business highlights significant progress is being made, however, the anticipated volume production has not yet occurred as OEMs continue to refine their end market products. This has delayed the orders but we are still confident in achieving growth in 2017."

"Q1 FY 2017 is part of the transition period for Electrovaya, and we expect to be able to build on relationships, new products and new industrial market sectors in CY 2017," said Dr. Sankar Das Gupta, chair and chief executive officer Electrovaya.

In FY 2016, the company's long-term board member, Dr. Bernard Fleet, PhD, DSc, FRSC, passed away. Electrovaya is very pleased that Prof. Carolyn Hansson, CM, FRSC, FCAE, has joined the board of directors of the company.

The company's complete Q1 2017 financial statements, and its management discussion and analysis, for the quarter ended Dec. 31, 2016, and annual information form, for the year ended Sept. 30, 2016, are available on SEDAR and on the company's website.

Conference call details

The company will hold a conference call on Tuesday, Feb. 14, 2017, at 8 a.m. Eastern Time, to discuss the Q1 FY 2017 results for the period ended Dec. 31, 2016, and to provide a business update.

Conference ID: 13655385

United States and Canada toll-free: 877-407-8291

International: 1-201-689-8345

To help ensure that the conference begins in a timely manner, please dial in 10 minutes prior to the start of the call.

For those unable to participate in the conference call, a replay will be available for two weeks beginning on Feb. 14, 2017, through Feb. 28 , 2017. To access the replay, the U.S. dial-in number is 877-660-6853 and the non-U.S. dial-in number is 1-201-612-7415. The replay conference ID is 13655385.

About Electrovaya Inc.

Electrovaya designs, develops and manufactures proprietary lithium-ion superpolymer batteries, battery systems and battery-related products for energy storage, clean electric transportation and other specialized applications. Electrovaya, through its fully owned subsidiary, Litarion GmbH, also produces cells, electrodes and Separion ceramic separators, and has manufacturing capacity of about 500 megawatt-hours per year. Electrovaya is a technology-focused company with extensive IP. Headquartered in Ontario, Canada, Electrovaya has production facilities in Canada and Germany with customers around the globe.

We seek Safe Harbor.

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Electrovaya appoints Hansson to board



2017-02-13 07:28 ET - News Release


Dr. Sankar Das Gupta reports

PROFESSOR CAROLYN HANSSON CM, FCAE, FRSC, JOINS ELECTROVAYA'S BOARD OF DIRECTORS

Electrovaya Inc. has appointed Dr. Carolyn Hansson, CM, FCAE, FRSC, one of Canada's influential and innovative engineers, to the Electrovaya board of directors.

Dr. Hansson has a long and distinguished career in industries such as Lockheed Martin (Martin Marietta), Danish Corrosion Labs and Bell Labs, as well as in academia (Waterloo, Queens, Columbia and SUNY), and was earlier a member of the board of a Toronto Stock Exchange- and Nasdaq-listed alternative energy company (Hydrogenics). A professor of materials engineering at the University of Waterloo, Dr. Hansson is the recipient of many awards including the Order of Canada and is a member of several influential committees within North America and Europe.

During her tenure as vice-president of research at Waterloo University, Dr. Hansson drove innovation across all disciplines of the university. She has wide connections within innovation circles in Canada, the United States and Europe, having lived and worked on both sides of the Atlantic.

"Carolyn has great practical experience in industry, government and academia, and we are delighted that she has agreed to join the board of directors at Electrovaya," said Dr. Sankar Das Gupta, chairman and chief executive officer of Electrovaya.

"The advanced lithium-ion battery is the key defining technology needed today and Electrovaya provides this critical next-generation technology to the emerging alternate energy sector. I am very pleased to join the board and help build the company," said Dr. Hansson.

About Electrovaya Inc.

Electrovaya designs, develops and manufactures proprietary lithium-ion superpolymer batteries, battery systems and battery-related products for energy storage, clean electric transportation and other specialized applications. Electrovaya, through its fully owned subsidiary, Litarion GmbH, also produces cells, electrodes and Separion ceramic separators, and has manufacturing capacity of about 500 megawatt-hours/annum.

We seek Safe Harbor.

http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aEFL-2443233&symbol=EFL&region=C

 

[Kostolanys Erbe]

Electrovaya appoints Pickrem director of sales in U.S.



2017-02-23 10:21 ET - News Release



Mr. Murray Pickrem reprots

MURRAY PICKREM JOINS ELECTROVAYA AS DIRECTOR OF SALES, USA FOR LITHIUM ION CERAMIC BATTERIES FOR FORK-LIFTS

Murray Pickrem joined Electrovaya Inc. in January, 2017, as director of sales in the United States for lithium-ion ceramic batteries for forklifts. Mr. Mr. Pickrem will be focused on directing Electrovaya's sales efforts in the U.S. market for the material handling and forklift batteries.

Mr. Pickrem has more than 20 years of experience in this industry, most recently as regional vice-president with First Financial, with a focus in materials handling and forklift batteries. Earlier, Mr. Pickrem was in sales and marketing with companies such as Siemens, Exide, ACT and The Raymond Group of Companies.

Mr. Pickrem has extensive leadership experience in sales management, national account sales, financing and structuring sales in the materials handling sector. In his previous roles, Mr. Pickrem was instrumental in acquiring numerous national corporate accounts and developing new business opportunities.

"I am very excited to accelerate the replacement of lead acid and hydrogen fuel cells by Electrovaya's lithium-ion ceramic battery," says Mr. Pickrem. "Electrovaya's cutting-edge technology and its great value proposition are compelling to the efficiency driven logistics and materials handing industry. This industry needs energy solutions which operates intensively, 24/seven, allows fast opportunity charging and requires no maintenance. We will drive sales through both OEM [original equipment manufacturer] channels as well as direct sales to customers, where our lithium-ion ceramic battery is a drop-in replacement for the ubiquitous lead acid in forklift trucks."

Mr. Pickrem can be reached directly at 1-863-212-4489 or mpickrem@electrovaya.com

About Electrovaya Inc.

Electrovaya designs, develops and manufactures proprietary lithium-ion superpolymer batteries, battery systems and battery-related products for energy storage, clean electric transportation and other specialized applications.

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[Kostolanys Erbe]

Electrovaya arranges $25-million debenture financing



2017-03-15 16:07 ET - News Release



An anonymous director reports

ELECTROVAYA ANNOUNCES PROPOSED PRIVATE PLACEMENT OF CONVERTIBLE DEBENTURES

Electrovaya Inc. intends to complete a non-brokered private placement of convertible unsecured subordinated debentures for gross proceeds of up to $25-million. The Offering may close in one or more tranches, but in any event no later than March 31, 2017. The Company has already entered into a binding subscription agreement with a lead investor with respect to $15 million principal amount of Debentures.

The Debentures will have a term to maturity of 36 months and bear interest at a rate of 9% per annum, payable semi-annually. The Company may elect, from time to time, subject to applicable regulatory approval, to satisfy its obligation to pay interest on the Debentures (i) in cash, or (ii) by issuing the equivalent value in common shares (the "Interest Shares") at a price per Interest Share equal to the 20 trading day volume-weighted average trading price ("VWAP") of the common shares (the "Common Shares") on the TSX ending five trading days preceding the applicable interest payment date.

Holders of Debentures may, at their option, at any time, and from time to time, up to and including the business day immediately preceding the maturity date, convert all or any part of the outstanding principal amount of the Debentures into Common Shares at a price of $2.15 per Common Share (the "Conversion Price") for no additional consideration, subject to a minimum conversion amount of $50,000.

If at any time the VWAP on the TSX for 30 consecutive trading days equals or exceeds a price per Common Share which is at least a 50% premium to the Conversion Price, the Company may force conversion of all of the principal amount of the Debentures at the Conversion Price upon 30 days advance written notice, provided that the Common Shares issuable upon such conversion will not be subject to restrictions on resale in Canada.

If the date of any conversion is following the date of the public filing by the Company of its financial statements for the quarter ended June 30, 2018 and the aggregate gross revenue from operations of the Company (on a consolidated basis) from June 30, 2017 to June 30, 2018 does not exceed $23 million in the aggregate, the Conversion Price will be discounted to $1.92 per Common Share.

Subscribers for Debentures will also be issued warrants (the "Warrants") to purchase common shares of the Company (the "Warrant Shares") on the basis of 116 Warrants per each $1,000 principal amount of Debentures. Each Warrant will be exercisable at an exercise price of $2.80 per Warrant Share for a period of 36 months from the respective closing date of any tranche of the Offering (any such date, a "Closing Date").

The net proceeds of the sale of Debentures will be used for working capital to fulfill purchase orders, and for general corporate purposes.

The Company has retained Origin Merchant Securities Inc. as its exclusive financial advisor on the Offering.

The Offering is subject to a number of conditions precedent, including, without limitation, receipt of TSX approval.

The Debentures, and any Common Shares issuable upon conversion of the Debentures, will be subject to a hold period of four months and one day from any respective Closing Date.

About Electrovaya Inc.

Electrovaya Inc. (TSX:EFL)(OTCQX:EFLVF) designs, develops and manufactures proprietary Lithium Ion Super Polymertrademark batteries, battery systems, and battery-related products for energy storage, clean electric transportation and other specialized applications. Electrovaya, through its fully owned subsidiary, Litarion GmbH, also produces cells, electrodes and SEPARION(TM) ceramic separators and has manufacturing capacity of about 500MWh/annum. Electrovaya is a technology focused company with extensive patents and other Intellectual Property. Headquartered in Ontario, Canada, Electrovaya has production facilities in Canada and Germany with customers around the globe.


http://www.stockwatch.com/News/Item.aspx?bid=Z-C:EFL-2452381&symbol=EFL&region=C

 

[Kostolanys Erbe]

Electrovaya closes first tranche of debenture financing



2017-03-28 10:37 ET - News Release



Dr. Sankar Gupta reports

ELECTROVAYA ISSUES FIRST TRANCHE OF CONVERTIBLE DEBENTURES

Electrovaya Inc. has completed the first tranche of its previously announced private placement of convertible unsecured subordinated debentures. The first tranche consisted of the issuance of $15-million principal amount of debentures to a lead subscriber. The debentures mature on March 27, 2020; bear interest at a rate of 9 per cent per year, payable semi-annually in cash or, at the company's option, common shares in the capital of the company; and are convertible, at the option of the holder, into common shares at a price of $2.15 per common share for no additional consideration until the maturity date. The debentures are subject to accelerated conversion in certain circumstances, and the conversion price may be adjusted in certain circumstances, all as more particularly described in the company's news release dated March 15, 2017, and material change report dated March 22, 2017.

The lead subscriber was also issued 1.74 million warrants. Each warrant is exercisable to purchase one common share in the capital of the company at a price of $2.80 per common share until 5 p.m. on March 26, 2020.

Origin Merchant Securities Inc. is acting as financial adviser to Electrovaya for the private placement.

A transaction fee of 6 per cent of the principal amount of the debentures issued in the first tranche was paid in connection with the closing. The company also issued 279,069 compensation options, with each compensation option exercisable to purchase one common share at a price of $2.26 until 5 p.m. on March 26, 2019.

As a condition of closing of the first tranche, Dr. Sankar Das Gupta, chief executive officer of the company, agreed to lend 6,976,744 common shares to the lead subscriber for a period of up to 36 months.

The debentures, warrants and compensation options, and any common shares issuable upon conversion of the debentures or exercise of the warrants or compensation options, will be subject to a hold period until the date that is four months and one day from the date hereof.

There is no assurance that the company will complete additional tranches under the previously announced private placement.

About Electrovaya Inc.

Electrovaya designs, develops and manufactures proprietary lithium-ion Super Polymer batteries, battery systems and battery-related products for energy storage, clean electric transportation and other specialized applications. Electrovaya, through its fully owned subsidiary, Litarion GmbH, also produces cells, electrodes and Separion ceramic separators and has manufacturing capacity of about 500 megawatt-hours per year. Headquartered in Ontario, Canada, Electrovaya has production facilities in Canada and Germany with customers around the globe.


http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aEFL-2455583&symbol=EFL&region=C

 

[Kostolanys Erbe]

Electrovaya receives $634,000 (U.S.) battery order



2017-04-03 16:33 ET - News Release



An anonymous director reports

ELECTROVAYA RECEIVES FIRST PURCHASE ORDER FOR ITS LITHIUM ION CERAMIC DROP-IN REPLACEMENT FORKLIFT BATTERY FROM US FORTUNE 100 COMPANY

Electrovaya Inc. has received its first purchase order for $634,000 (U.S.) for its line of lithium-ion ceramic forklift battery systems for a U.S. Fortune 100 global snacking company. The batteries will be used in Class 1 and Class 2 forklifts and be installed at a single distribution centre as a drop-in battery in the forklift trucks.

Prior to the order, demonstration batteries were tested for over five months at one of the Fortune 100 company's distribution centres. Electrovaya's Elivate batteries powered the forklifts, three shifts a day and six days a week. The batteries were also tested and approved by the forklift truck manufacturer.

Electrovaya's booth No. 3283 at ProMat 2017, McCormick Place, Chicago, from April 3 to April 6 April, 2017, showcases the Elivate lithium-ion ceramic batteries.

Electrovaya's lithium-ion ceramic battery system is a green tech solution in the forklift sector. The Electrovaya battery can improve sustainability and enhance productivity, reduce maintenance, allow peak power shifting to reduce peak demand, and reduces electricity usage in heavy-duty 24/seven distribution and manufacturing environments. The Electrovaya batteries include its proprietary ceramic separator, Separion, enabling enhanced safety and cycle life.

About Electrovaya Inc.

Electrovaya designs, develops and manufactures proprietary lithium-ion ceramic batteries, battery systems and battery-related products for energy storage, clean electric transportation and other specialized applications.


http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aEFL-2458160&symbol=EFL&region=C

 

[Kostolanys Erbe]

Electrovaya appoints McGuinty to board



2017-04-07 06:52 ET - News Release



Dr. Sankar Das Gupta reports

DALTON MCGUINTY, ONTARIO'S 24TH PREMIER, JOINS ELECTROVAYA BOARD OF DIRECTORS

Dalton McGuinty has joined the Electrovaya Inc. board of directors. Mr. McGuinty will also serve as strategic adviser to the company. Mr. McGuinty was premier of Ontario for three consecutive terms from 2003 to 2013.

While premier, Mr. McGuinty made clean technology and innovation a priority, creating Canada's first Ministry of Research and Innovation with himself as minister. Among Mr. McGuinty's many climate change mitigation initiatives, shutting down Ontario's coal plants became the single biggest carbon dioxide reduction in North America.

During 2013/2014, Mr. McGuinty was a senior fellow at Harvard University's Weatherhead Center for International Affairs. Mr. McGuinty is presently on the board of directors of Innergex Renewable Energy, a reporting issuer and a Toronto Stock Exchange-listed company. As well, he sits on the board of directors of Pomerleau Inc., and serves as special adviser to the chief executive officer of D2L Corp. Mr. McGuinty is also a senior fellow at the University of Toronto School of Public Policy and Governance, and he sits on the board of directors of the University of Ottawa Heart Institute.

"I look forward to working with Electrovaya at a time when the world is eager for energy storage solutions," said Mr. McGuinty. "I am proud to be associated with a Canadian company with an exciting disruptive technology of value to the world."

"Lithium ion batteries are the holy grail of energy transformation and Mr. McGuinty's passion and experience will be a wonderful asset to Electrovaya," said Dr. Sankar Das Gupta, chairman and chief executive officer, Electrovaya.

About Electrovaya Inc.

Electrovaya designs, develops and manufactures proprietary lithium-ion ceramic batteries, battery systems and battery-related products for energy storage, clean electric transportation and other specialized applications. Electrovaya, through its fully owned subsidiary, Litarion GmbH, also produces cells, electrodes and Separion ceramic separators and has manufacturing capacity of about 500 megawatt-hours per annum.


http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aEFL-2459329&symbol=EFL&region=C

 

[Kostolanys Erbe]

Electrovaya loses $6.3-million (U.S.) in fiscal Q2 2017



2017-05-11 16:40 ET - News Release



Dr. Sankar Das Gupta reports

ELECTROVAYA REPORTS FINANCIAL RESULTS FOR Q2 2017

Electrovaya Inc. has released its financial results for the fiscal quarter ending March 31, 2017. All figures are in U.S. dollars.

Financial Highlights:

Q2 2017 was a continuation of the transition period as we and our original equipment manufacturer ("OEM") partners develop new products and markets based on our lithium ion batteries. Q2 2017 revenue is $2 million (Cdn $2.7m) for the quarter ended March 31, 2017, compared to Q2 2016 revenue of $4.3 million (Cdn $5.9m).

The net loss for Q2 2017 is $6.3 million (Cdn $8.6m) compared to a net loss for Q2 2016 of $3.1 million (Cdn $4.2m).

Cash and restricted cash totaled $9.2 million (Cdn $12.6m) as at March 31, 2017 compared to $4.3 million (Cdn $5.9m) at March 31, 2016.

Inventory is $15.6 million (Cdn $21.4m) as at March 31, 2017 as compared to $11.7 million (Cdn $16.0m) for March 31, 2016.

Business Highlights:

The private placement on March 27, 2017 of Cdn $15 million 9% convertible debentures significantly strengthened our working capital position and gives the Company the resources to continue with our growth initiatives.

Our growth initiatives and business focus remains on industrial applications where the Lithium Ion Battery is extensively used and requires high performance. Some of the industrial sectors where we are focusing have been announced earlier and they are: Materials Handling Sector sales to OEM: Electrovaya work on a Multiyear Master Service Agreement with a NYSE Fortune 1000 OEM continues. A second OEM company in the materials handling sector is continuing trials with the Electrovaya battery.

Materials Handling Sector sales directly to the end user: Electrovaya announced on April 3rd, 2017 that it received the first purchase order for a drop-in replacement battery product for the fork lift materials handling market. Trials continue with multiple users in this sector.

Electric bus sector: The electric bus sector is viewed as an important market for lithium ion batteries. Electrovaya is continuing development work in this sector with an OEM battery assembler.

Residential Energy Storage Sector: Electrovaya's LITASTORE module is being trialed and used by residential energy system providers in North America, Europe and Asia to address local market needs.

Electric-Mobility and Electric Del ivery Truck sector: Electrovaya believes this is an important industrial sector and is working with multiple OEMs in this sector, predominantly in Europe. Development work is continuing on custom modules for 2 OEMs. Additionally, other OEMs are using the LITACELL to develop their own bespoke systems for electric transport applications.

Utility and Grid connected systems: Work is continuing in this sector.

Other Business Developments: Board Appointments: We welcomed Dalton McGuinty, Ontario's 24th Premier, to the Board of Electrovaya. Mr. McGuinty is a champion of clean technology and international trade. He joined Professor Carolyn Hansson who was appointed to our Board February 13th, 2017. Professor Hansson is a highly regarded Professor of Materials Engineering at the University of Waterloo and is the recipient of many awards and honours including the Order of Canada.

Commenting on the results Electrovaya EVP and CFO, Richard Halka stated "In Q2 2017 we have significantly improved our working capital position and now have the cash resources to continue with our growth initiatives".

"Q2 2017 continues to be a transition period for Electrovaya and we expect to be able to build on relationships, products and industrial market sectors in CY 2017", said Dr. Sankar Das Gupta, Chair and CEO Electrovaya.

The Company's complete Q2 2017 Financial Statements, Management Discussion and Analysis for the quarter ended March 31, 2017 are available at www.sedar.com or on the Company's website at www.electrovaya.com.

Conference Call Details:

The Company will hold a conference call on Friday May 12, 2017 at 8:00 a.m. Eastern Time (ET) to discuss the Q2 2017 results for the period ended March 31, 2017 and to provide a business update.

Conference ID: 13661922

US and Canada toll free: (877) 407-8291

International: + 1(201) 689-8345

To help ensure that the conference begins in a timely manner, please dial in 10 minutes prior to the start of the call.

For those unable to participate in the conference call, a replay will be available for two weeks beginning on May 12, 2017 through May 26 , 2017. To access the replay, the U.S. dial-in number is (877) 660-6853 and the non-U.S. dial-in number is +1 (201) 612-7415. The replay conference ID is 13661922.


https://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aEFL-2470408&symbol=EFL&region=C

 

[greenhorn]

EFL - geht ordentlich abwärts

Kostolanys Erbe schrieb am 11.05.2017, 23:15 Uhr[/url]"]
Electrovaya loses $6.3-million (U.S.) in fiscal Q2 2017



2017-05-11 16:40 ET - News Release



Dr. Sankar Das Gupta reports

ELECTROVAYA REPORTS FINANCIAL RESULTS FOR Q2 2017

Electrovaya Inc. has released its financial results for the fiscal quarter ending March 31, 2017. All figures are in U.S. dollars.

Financial Highlights:

Q2 2017 was a continuation of the transition period as we and our original equipment manufacturer ("OEM") partners develop new products and markets based on our lithium ion batteries. Q2 2017 revenue is $2 million (Cdn $2.7m) for the quarter ended March 31, 2017, compared to Q2 2016 revenue of $4.3 million (Cdn $5.9m).

The net loss for Q2 2017 is $6.3 million (Cdn $8.6m) compared to a net loss for Q2 2016 of $3.1 million (Cdn $4.2m).

Cash and restricted cash totaled $9.2 million (Cdn $12.6m) as at March 31, 2017 compared to $4.3 million (Cdn $5.9m) at March 31, 2016.

Inventory is $15.6 million (Cdn $21.4m) as at March 31, 2017 as compared to $11.7 million (Cdn $16.0m) for March 31, 2016.

Business Highlights:

The private placement on March 27, 2017 of Cdn $15 million 9% convertible debentures significantly strengthened our working capital position and gives the Company the resources to continue with our growth initiatives.

Our growth initiatives and business focus remains on industrial applications where the Lithium Ion Battery is extensively used and requires high performance. Some of the industrial sectors where we are focusing have been announced earlier and they are: Materials Handling Sector sales to OEM: Electrovaya work on a Multiyear Master Service Agreement with a NYSE Fortune 1000 OEM continues. A second OEM company in the materials handling sector is continuing trials with the Electrovaya battery.

Materials Handling Sector sales directly to the end user: Electrovaya announced on April 3rd, 2017 that it received the first purchase order for a drop-in replacement battery product for the fork lift materials handling market. Trials continue with multiple users in this sector.

Electric bus sector: The electric bus sector is viewed as an important market for lithium ion batteries. Electrovaya is continuing development work in this sector with an OEM battery assembler.

Residential Energy Storage Sector: Electrovaya's LITASTORE module is being trialed and used by residential energy system providers in North America, Europe and Asia to address local market needs.

Electric-Mobility and Electric Del ivery Truck sector: Electrovaya believes this is an important industrial sector and is working with multiple OEMs in this sector, predominantly in Europe. Development work is continuing on custom modules for 2 OEMs. Additionally, other OEMs are using the LITACELL to develop their own bespoke systems for electric transport applications.

Utility and Grid connected systems: Work is continuing in this sector.

Other Business Developments: Board Appointments: We welcomed Dalton McGuinty, Ontario's 24th Premier, to the Board of Electrovaya. Mr. McGuinty is a champion of clean technology and international trade. He joined Professor Carolyn Hansson who was appointed to our Board February 13th, 2017. Professor Hansson is a highly regarded Professor of Materials Engineering at the University of Waterloo and is the recipient of many awards and honours including the Order of Canada.

Commenting on the results Electrovaya EVP and CFO, Richard Halka stated "In Q2 2017 we have significantly improved our working capital position and now have the cash resources to continue with our growth initiatives".

"Q2 2017 continues to be a transition period for Electrovaya and we expect to be able to build on relationships, products and industrial market sectors in CY 2017", said Dr. Sankar Das Gupta, Chair and CEO Electrovaya.

The Company's complete Q2 2017 Financial Statements, Management Discussion and Analysis for the quarter ended March 31, 2017 are available at www.sedar.com or on the Company's website at www.electrovaya.com.

Conference Call Details:

The Company will hold a conference call on Friday May 12, 2017 at 8:00 a.m. Eastern Time (ET) to discuss the Q2 2017 results for the period ended March 31, 2017 and to provide a business update.

Conference ID: 13661922

US and Canada toll free: (877) 407-8291

International: + 1(201) 689-8345

To help ensure that the conference begins in a timely manner, please dial in 10 minutes prior to the start of the call.

For those unable to participate in the conference call, a replay will be available for two weeks beginning on May 12, 2017 through May 26 , 2017. To access the replay, the U.S. dial-in number is (877) 660-6853 and the non-U.S. dial-in number is +1 (201) 612-7415. The replay conference ID is 13661922.


https://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aEFL-2470408&symbol=EFL&region=C

Zum Verkleinern anklicken...

 

[Kostolanys Erbe]

Electrovaya, CEO enter settlement with OSC



2017-06-30 11:01 ET - News Release



Dr. Sankar Das Gupta reports

ELECTROVAYA ANNOUNCES SETTLEMENT AGREEMENT WITH ONTARIO SECURITIES COMMISSION

Electrovaya Inc. and Dr. Sankar Das Gupta, chairman and chief executive officer, have entered a settlement agreement with staff of the Ontario Securities Commission.

The agreement resolves issues relating to the company's continuous disclosure between December, 2015, and September, 2016, and specifically resolved: (i) five news releases issued by the company during the time period that did not contain adequate disclosure about the nature and risks of newly announced business arrangements; (ii) that the company did not update previously announced forward-looking information in its management discussion and analysis during the time period; and (iii) that the company did not provide an accurate description of its business in its annual information form filed during the time period.

Electrovaya and Dr. Das Gupta are committed to meeting corporate disclosure standards and regret that they did not satisfy such standards during the time period. As a result of the inquiry by OSC staff, the company has already taken steps to improve its continuous disclosure. Under the terms of the agreement, the company will take several additional steps to comply with its continuous disclosure requirements.

Electrovaya will not face a financial penalty in relation to the agreement. Dr. Das Gupta has agreed to pay an administrative penalty and upgrade his personal knowledge of continuous disclosure standards.

The following is a summary of actions Electrovaya and Dr. Das Gupta have already taken in response to the inquiry by OSC staff as well as actions that will be taken under the terms of the settlement agreement.

In connection with OSC staff's 2016 review of Electrovaya's continuous disclosure, the company:

Issued two clarifying news releases;
Filed an amended and restated 2015 annual information form on Nov. 29, 2016;
Revised its disclosure policy, including introducing external counsel review of all continuous disclosure;
Has arranged for external counsel to provide a seminar to its disclosure committee on its revised disclosure policy, obligations and standards;
Hired an investor relations firm with Toronto Stock Exchange-listed issuer experience.


In connection with OSC staff's 2016 review of Electrovaya's continuous disclosure, Dr. Das Gupta:

Attended, through a webinar, the OSC SME Institute seminar on continuous disclosure in December, 2016.


Under the terms of the settlement agreement, Electrovaya will:

Have the company's corporate governance framework reviewed by Hansell LLP and adopt all changes recommended by the consultant that are accepted by OSC staff;
Institute for a period of 20 months a disclosure committee comprising four members (two of whom shall be independent directors), which committee must approve all public disclosure made by the company;
Name an independent director as chair of the disclosure committee for a period of 20 months;
Name an independent director as chair of the board for a period of 20 months.


In this regard, Dr. Carolyn Hansson has been appointed as chair of the disclosure committee and Dr. Alexander McLean has been appointed chair of the board.

Under the terms of the settlement agreement, Dr. Das Gupta will:

Pay an administrative penalty of $250,000;
Be prohibited from becoming or acting as a director or officer of any reporting issuer, other than Electrovaya or an affiliate, for a period of one year;
Pay the costs of the consultant's review, which are estimated to be between $85,000 and $100,000;
Participate in and pay for a corporate governance course on disclosure issues acceptable to staff of the OSC, the costs of which are estimated to be $2,500.


Dr. Das Gupta commented: "We are pleased to reach this agreement with OSC staff. The measures we announced today demonstrate our commitment to fulsome and balanced disclosure. With this matter behind us, we can direct all our focus to the company's exciting future."

About Electrovaya Inc.

Electrovaya designs, develops and manufactures proprietary lithium-ion super polymer batteries, battery systems and battery-related products for energy storage, clean electric transportation and other specialized applications. Electrovaya, through its fully owned subsidiary, Litarion GmbH, also produces cells, electrodes and Separion ceramic separators and has manufacturing capacity of about 500 megawatt-hours per year.


https://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aEFL-2484369&symbol=EFL&region=C

 

[Rooky]

Electrovaya Sells Lithium Ion Cells to European Electric Vehicle Producer Through Follow-on Purchase Order

Safety with Ceramic Separator and High cycle life drives demand in electric vehicle usage

TORONTO, ONTARIO--(Marketwired - July 13, 2017) - Electrovaya Inc. (TSX:EFL)(OTCQX:EFLVF) announced that it has sold Euro 1 million (~Cdn $1.45 million) of lithium ion cells for electric vehicle application to an electric vehicle producer. Under the terms of the order, the customer took possession late in Q3 2017, with 50% of the purchase price payable this month and the remaining 50% in September 2017.

"We are very pleased to receive this follow-on order, after the customer had earlier purchased smaller quantities of lithium ion cells from us", said Thomas Kagemann, Electrovaya / Litarion Director of Sales in Europe. "This underlines the strong commercial performance of our cells, which is viewed as one of our key differentiators in the marketplace. This order is also reflective of an increasing level of interest from electro-mobility customers in Europe for our cells, who are recognizing our industry leading safety, energy density and cycle-life".

Read more at http://www.stockhouse.com/news/press-releases/2017/07/13/electrovaya-sells-lithium-ion-cells-to-european-electric-vehicle-producer#dKMPsfKr404P1bjg.99

 

[Rooky]

Electrovaya Completes First Commercial Delivery of Replacement Forklift Lithium Ion Ceramic Batteries

TORONTO, July 18, 2017 (GLOBE NEWSWIRE) -- Electrovaya Inc. (TSX:EFL) (OTCQX:EFLVF) today announced that it has completed delivery of 36V 960 Ah Lithium Ion Ceramic batteries and associated chargers to Mondelez International. The order was worth US$ 634,000 (C$ 804,000).

The 36V 960 Ah batteries will be used in Class 2 forklifts and will directly replace the lead acid batteries previously used by Mondelez International. The 36V 480 Ah batteries will also be used in Class 1 vehicles, again replacing lead acid batteries. Electrovaya’s batteries have fast charging capabilities, providing the customer with the opportunity to charge during lunch or other breaks.

“We are delighted that Mondelez International chose the Electrovaya batteries after extensive testing as well as approval by the OEM truck manufacturer,” said Alexander Skrypko, Vice President, Engineering at Electrovaya . “The batteries are equipped with an intelligent Battery Management System (iBMS™) with proprietary software,” said Mr. Skrypko.

The iBMSTM manages the batteries and controls the communications with the charger. The cells in the battery contain the ceramic separator, SeparionTM, which delivers added safety and cycle life performance. The battery is designed to work 24/7 in a fast-paced warehouse environment with rapid charging capability during operator breaks.

http://www.stockhouse.com/news/press-releases/2017/07/18/electrovaya-completes-first-commercial-delivery-of-replacement-forklift-lithium

 

[Kostolanys Erbe]

Electrovaya loses $6.3-million (U.S.) in fiscal Q3 2017



2017-08-01 18:39 ET - News Release


Dr. Sankar Gupta reports

ELECTROVAYA REPORTS FINANCIAL RESULTS FOR Q3 2017

Electrovaya Inc. has released its financial results for the fiscal third quarter ended June 30, 2017. All numbers are in U.S. dollars unless otherwise noted.

In Q3 2017, Electrovaya progressed with respect to the long sales cycle that characterizes its target markets and has successfully delivered to its target vertical markets. In Q3 2017, Electrovaya's sales increased by 120 per cent over Q2 2017, which in turn were significantly higher than Q1 2017. "Our growth initiatives and business focus remain on applications where the lithium ion battery is intensively used and requires high performance," said Dr. Sankar Das Gupta, chief executive officer. "We are seeing progress in our key target verticals including electric commercial vehicles and energy storage. We continued to make component sales of cells during the third quarter."

Financial highlights

Q3 2017 revenue was $4.4-million ($5.5-million (Canadian)) compared with Q3 2016 revenue of $2.6-million ($3.3-million (Canadian)), an increase of approximately 70 per cent, and compared with Q2 2017 of $2.0-million ($2.5-million (Canadian)), an increase of 120 per cent.
The net loss for Q3 2017 was $6.3-million ($7.9-million (Canadian)) compared with a net loss for Q3 2016 of $3.1-million ($3.9-million (Canadian)).
Cash and restricted cash totalled $1.7-million ($2.1-million (Canadian)) as at June 30, 2017, compared with $2.7-million ($3.4-million (Canadian)) at June 30, 2016.
Inventory was $13.7-million ($17.1-million (Canadian)) as at June 30, 2017, as compared with $16.7-million ($20.9-million (Canadian)) the previous year.
Business developments

Electrovaya made deliveries of cells to original equipment manufacturers who utilized them for electric commercial vehicle applications, modules deliveries to the Hyster Yale Group and made the first deliveries of its Elivate line of forklift battery systems to Mondelez International. The Elivate product is undergoing extensive trials at multiple distribution centres and manufacturing sites in the United States and Canada.

Subsequent to the end of Q3 2017, Electrovaya announced that it completed delivery of two important orders:

A $634,000 order from Mondelez International for replacement forklift lithium ion ceramic batteries;
A one-million-euro order of lithium ion cells from an electric vehicle producer.

..............

https://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aEFL-2491296&symbol=EFL&region=C

 

[Kostolanys Erbe]

Electrovaya wins $3.8M funding for battery development



2017-08-08 14:20 ET - News Release



Dr. Raj Dasgupta reports

ELECTROVAYA TO RECEIVE C$3.8 MILLION FROM SUSTAINABLE DEVELOPMENT TECHNOLOGY CANADA (SDTC) TO DEVELOP SAFE AND LONG LASTING BATTERIES FOR COMMERCIAL VEHICLES

Sustainable Development Technology Canada has awarded $3.8-million to Electrovaya Inc. to finance the development of safe and long-lasting lithium-ion ceramic batteries for commercial vehicles.

"We are delighted that SDTC will support our activities in this fast-growing space of electric commercial vehicles, where high performance batteries are needed to match the increasing operational and safety requirements," said Dr. Raj Dasgupta, vice-president, business development, of Electrovaya.

About Electrovaya Inc.

Electrovaya designs, develops and manufactures proprietary lithium ion Super Polymer batteries, battery systems and battery-related products for energy storage, clean electric transportation and other specialized applications.


https://www.stockwatch.com/News/Item.aspx?bid=Z-C:EFL-2492862&symbol=EFL&region=C

 

[Kostolanys Erbe]

Electrovaya wins forklift battery orders from Walmart



2017-09-18 16:35 ET - News Release



Dr. Raj Das Gupta reports

ELECTROVAYA ANNOUNCES CDN $4.3 MILLION PURCHASE ORDERS FROM WALMART CANADA FOR FORKLIFT BATTERY SYSTEMS IN A DISTRIBUTION WAREHOUSE

Electrovaya Inc. has secured initial purchase orders under a contract with Walmart Canada for its forklift battery systems. The retailer will convert the forklifts in one distribution centre from lead acid batteries to Electrovaya's drop-in lithium-ion battery systems. Electrovaya's lithium-ion forklift battery line, ELivate, features its ceramic separator and industry-leading life cycle. The purchase orders are worth approximately $4.3 million and deliveries are to be made by Q1 of calendar 2018.

"We are very pleased to work with Walmart Canada, a leader in the introduction of green sustainable technology into the distribution and logistics industry," said Dr. Raj Das Gupta, vice-president, business development, at Electrovaya. "Our ceramic lithium-ion battery technology is ideally suited to intensive-use applications such as forklifts and other material handling vehicles, supporting both higher efficiency and sustainability."

The many benefits of Electrovaya's ELivate batteries were demonstrated through extensive testing by the retailer in its distribution warehouses and by the forklift original equipment manufacturer before this purchase order was issued.

About Electrovaya Inc.

Electrovaya designs, develops and manufactures proprietary lithium-ion ceramic batteries, battery systems and battery-related products for energy storage, clean electric transportation and other specialized applications. Electrovaya, through its fully owned subsidiary, Litarion GmbH, also produces cells, electrodes and Separion (ceramic separators) and has manufacturing capacity of about 500 megawatt-hours per year.

https://www.stockwatch.com/News/Item.aspx?bid=Z-C:EFL-2507058&symbol=EFL&region=C

 

[Kostolanys Erbe]

Electrovaya arranges $5-million financing



2017-09-26 17:21 ET - News Release



Mr. Richard Halka reports

ELECTROVAYA ANNOUNCES PROPOSED PRIVATE PLACEMENT

Electrovaya Inc. intends to complete a non-brokered private placement of up to 4,347,827 units at a price of $1.15 per unit for aggregate gross proceeds of up to $5-million. The offering may be completed in one or more tranches.

Each unit will comprise one common share of the company and one common share purchase warrant. Each warrant will entitle the holder thereof to acquire one common share at a price of $1.45 for a period of 60 months from the closing of the offering.

The securities issued in connection with the offering will be subject to a hold period of four months plus a day from the date of issuance pursuant to applicable securities laws. The proceeds of the offering will be used for general working capital purposes.

The company expects that certain eligible persons will be paid a cash commission equal to 7 per cent of the proceeds raised from subscribers introduced to the offering by such finders and also issued broker warrants equal to 7 per cent of the securities purchased by such subscribers. Each broker warrant entitles the holder thereof to purchase one common share at a price of $1.45 for a period of 60 months from the closing of the offering.

The offering is subject to the approval of the Toronto Stock Exchange.

About Electrovaya Inc.

Electrovaya designs, develops and manufactures proprietary lithium-ion Super Polymer batteries, battery systems and battery-related products for energy storage, clean electric transportation and other specialized applications. Electrovaya, through its fully owned subsidiary, Litarion GmbH, also produces cells, electrodes and Separion ceramic separators, and has a manufacturing capacity of about 500 megawatt-hours per annum. Electrovaya is a technology-focused company with extensive intellectual property. Headquartered in Ontario, Canada, Electrovaya has production facilities in Canada and Germany with customers around the globe.

https://peketec.de/trading/posting.php?mode=reply&t=10092

 

[Kostolanys Erbe]

Electrovaya completes $4.6M first tranche of financing



2017-09-29 12:09 ET - News Release



An anonymous director reports

ELECTROVAYA COMPLETES FIRST TRANCHE OF PRIVATE PLACEMENT

Electrovaya Inc. has completed the first tranche of its previously announced private placement of units. The first tranche consisted of the issuance of four million units at a price of $1.15 per unit for gross proceeds of $4.6-million.

Each unit comprises one common share of the company and one common share purchase warrant. Each warrant entitles the holder thereof to acquire one common share at a price of $1.45 for a period of 60 months from the closing of the offering.

The common shares and warrants composing the units are subject to a hold period of four months plus a day from the date of issuance pursuant to applicable securities laws. The proceeds of the offering will be used for general working capital purposes.

The company paid cash finders' fees in the aggregate amount of $322,000 in connection with the subscriptions for units. The company also issued broker warrants equal to 7 per cent of the units purchased by the subscribers. Each broker warrant entitles the holder thereof to purchase one common share at a price of $1.45 for a period of 60 months from the date of issuance.

The common shares composing the units and underlying the warrants and broker warrants have been conditionally approved for listing on the Toronto Stock Exchange.

There is no assurance that the company will complete additional tranches of the private placement.

About Electrovaya Inc.

Electrovaya designs, develops and manufactures proprietary lithium-ion Super Polymer batteries, battery systems, and battery-related products for energy storage, clean electric transportation and other specialized applications. Electrovaya, through its fully owned subsidiary, Litarion GmbH, also produces cells, electrodes and Separion ceramic separators and has manufacturing capacity of about 500 megawatt-hours per year. Headquartered in Ontario, Canada, Electrovaya has production facilities in Canada and Germany with customers around the globe.

https://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aEFL-2511180&symbol=EFL&region=C

 

[Kostolanys Erbe]

Electrovaya closes $695,000 final tranche of financing



2017-10-04 14:25 ET - News Release



Mr. Richard Halka reports

ELECTROVAYA COMPLETES FINAL TRANCHE OF PRIVATE PLACEMENT

Electrovaya Inc. has completed the second and final tranche of its previously announced private placement of units. The Company received subscriptions for Units in excess of the initial planned offering size of $5,000,000, and the second tranche consisted of the issuance of 604,347 Units at a price of $1.15 per Unit for gross proceeds of approximately $695,000. The total aggregate gross proceeds raised in the private placement amounted to approximately $5,295,000.

Each Unit is comprised of one common share of the Company (a "Common Share") and one Common Share purchase warrant (a "Warrant"). Each Warrant entitles the holder thereof to acquire one Common Share at a price of $1.45 for a period of 60 months from the closing of the Offering.

The Common Shares and Warrants composing the Units are subject to a hold period of four months plus a day from the date of issuance pursuant to applicable securities laws. The proceeds of the Offering will be used for general working capital purposes.

The Company paid cash finders fees in the aggregate amount of $48,649.93, representing 7% of the cash proceeds raised in connection with the subscriptions for Units. The Company also issued that number of broker warrants (the "Broker Warrants") as is equal to 7% of the number Units purchased by the subscribers. Each Broker Warrant entitles the holder thereof to purchase one Common Share at a price of $1.45 for a period of 60 months from the date of issuance.

The Common Shares composing the Units and underlying the Warrants and Broker Warrants have been conditionally approved for listing on the Toronto Stock Exchange.

About Electrovaya Inc.

Electrovaya Inc. (TSX:EFL)(OTCQX:EFLVF) designs, develops and manufactures proprietary Lithium Ion Super Polymertrademark batteries, battery systems, and battery-related products for energy storage, clean electric transportation and other specialized applications. Electrovaya, through its fully owned subsidiary, Litarion GmbH, also produces cells, electrodes and SEPARION(TM) ceramic separators and has manufacturing capacity of about 500MWh/annum. Electrovaya is a technology focused company with extensive patents and other Intellectual Property. Headquartered in Ontario, Canada, Electrovaya has production facilities in Canada and Germany with customers around the globe.

https://www.stockwatch.com/News/Item.aspx?bid=Z-C:EFL-2512928&symbol=EFL&region=C

 

[Kostolanys Erbe]

Electrovaya receives $275,000 in ELivate orders



2017-10-10 16:26 ET - News Release



Dr. Raj Das Gupta reports

ELECTROVAYA ANNOUNCES TWO ADDITIONAL ORDERS FOR ITS FORKLIFT BATTERY SYSTEMS FROM FORTUNE 500 CUSTOMERS

Electrovaya Inc. has secured initial purchase orders from two Fortune 500 customers for its ELivate forklift battery systems. The aggregate value of the orders is approximately $275,000. These are the third and fourth Fortune 500 companies, respectively, to place orders for Electrovaya's drop-in lithium-ion battery systems for forklifts, which feature its ceramic separator and industry-leading cycle life.

"We are pleased that our drop-in forklift product continues to draw interest from very significant customers," said Dr. Raj Das Gupta, vice-president, business development, at Electrovaya. "Our ceramic lithium-ion battery technology is ideally suited to intensive-use applications such as forklifts and other material-handling vehicles, supporting both higher efficiency and sustainability."

About Electrovaya Inc.

Electrovaya designs, develops and manufactures proprietary lithium-ion ceramic batteries, battery systems, and battery-related products for energy storage, clean electric transportation and other specialized applications. Headquartered in Ontario, Canada, Electrovaya has production facilities in Canada and Germany with customers around the globe.

https://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aEFL-2514292&symbol=EFL&region=C

 

[Kostolanys Erbe]

ORIGINAL: Litarion Invited to Join the European Commission’s Proposed Battery Alliance



2017-11-06 18:11 ET - News Release



Toronto, ON, Nov. 06, 2017 (GLOBE NEWSWIRE) -- Electrovaya Inc. (“Electrovaya” or the “Company”) (TSX:EFL) (OTCQX:EFLVF) is pleased to announce that the European Commission has invited the Company’s fully owned subsidiary, Litarion GmbH (“Litarion”), to participate in the proposed EU Battery Alliance strategic initiative, and Litarion has accepted the invitation. The European Commission is an institution of the European Union responsible for proposing legislation, implementing decisions, upholding the EU treaties and managing the day-to-day business of the EU.

The Commission is clear that, while support from the Commission, the European Investment Bank and some Member States is important, the lead needs to stay with the industry. Others invited to participate in the proposed Alliance include battery-users like European automotive companies, in addition to materials suppliers and technology partners.

Litarion has installed production capacity of approximately 500 MWh of electrodes and separators, the key components in a Lithium Ion cell. Litarion believes this is one of the largest installed capacities of any company in Europe and that it can contribute to the proposed Alliance through its production capabilities, technology excellence, know-how and experience in the field.

According to the European Commission, a roadmap for the proposed EU Battery Alliance will be presented at the Clean Energy Industrial Forum in February 2018.

Please see www.litarion.com for a review of our Electrodes and SEPARION Separator technology.

Please see www.electrovaya.com for investor presentation and detailed product profiles.




About Electrovaya Inc.

Electrovaya Inc. (TSX:EFL) (OTCQX:EFLVF), designs, develops and manufactures proprietary Lithium-ion Ceramic Batteries, battery systems, and battery-related products for energy storage, clean electric transportation and other specialized applications. Electrovaya, through its fully owned subsidiary, Litarion GmbH, also produces cells, electrodes and SEPARION™ ceramic separators and has manufacturing capacity of about 500MWh/annum. Electrovaya is a technology focused company with extensive IP. Headquartered in Ontario, Canada, Electrovaya has production facilities in Canada and Germany with customers around the globe.

To learn more about how Electrovaya and Litarion is powering mobility and energy storage, please explore www.electrovaya.com, www.litarion.com and www.separion.com

https://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aEFL-2526158&symbol=EFL&region=C

 

[Kostolanys Erbe]

Electrovaya receives Li ion forklift battery order



2017-11-20 17:07 ET - News Release



An anonymous director reports

ELECTROVAYA PROVIDES UPDATE ON CORPORATE DEVELOPMENTS

Electrovaya Inc. has provided an update on recent corporate developments at the company.

A recent matter is that a fifth U.S. Fortune 500 Company has issued a purchase order to Electrovaya for its lithium ion ceramic forklift battery. The order, which was placed through a US equipment dealer, follows on earlier announced orders from Mondelez International Inc. and Wal-Mart Stores Inc. (through its Canadian subsidiary) along with two other US Fortune 500 Companies for Electrovaya's lithium ion ceramic battery system. This battery is a green tech solution that is particularly well suited to the materials handling vehicle sector.

The Electrovaya battery can improve productivity, reduce maintenance, and has the potential to reduce peak demand as well as decrease electricity usage in heavy-duty 24/7 distribution and manufacturing environments. The Electrovaya batteries include the proprietary ceramic separator, SEPARION(TM), which provides enhanced safety and cycle life.

The Company continues to pursue opportunities with OEM manufacturers and is in various stages of business development with ongoing and potential customers in sectors that include electric delivery trucks, electric buses and energy storage.

In the forklift and Material Handling Vehicles (MHV) sector, two large corporations will be testing in their distribution warehouses, the company's batteries during the Black Friday to pre-Christmas period, the most demanding time of year in retailing and e-commerce. Electrovaya now has about 20 battery packs which are carrying out demonstration programs in multiple corporations. The focus is large sophisticated companies who can distinguish differentiating aspects of the Electrovaya battery in its logistics, warehousing or manufacturing operations.

Electrovaya is also pursuing follow-up business with companies that have placed initial orders for forklift batteries. The Company has conducted testing in multiple warehouse and other locations including both cold and room temperature distribution spaces. While the sales cycle is long and there is no guarantee that the Company's initiatives will result in significant orders, Electrovaya is pleased with the performance of its batteries in both testing and initial deployments.

About Electrovaya Inc.

Electrovaya Inc. (TSX:EFL)(OTCQX:EFLVF), designs, develops and manufactures proprietary Lithium-ion Ceramic Batteries, battery systems, and battery-related products for energy storage, clean electric transportation and other specialized applications. Electrovaya, through its fully owned subsidiary, Litarion GmbH, also produces cells, electrodes and SEPARION(TM) ceramic separators and has manufacturing capacity of about 500MWh/annum. Electrovaya is a technology focused company with extensive IP. Headquartered in Ontario, Canada, Electrovaya has production facilities in Canada and Germany with customers around the globe.


https://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aEFL-2534001&symbol=EFL&region=C

 

[Kostolanys Erbe]

Electrovaya adds second $167,000 (U.S.) order



2017-11-29 17:08 ET - News Release



An anonymous director reports

ELECTROVAYA RECEIVES FOLLOW-UP PURCHASE ORDER FROM US FORTUNE 100 COMPANY FOR ITS LITHIUM-ION CERAMIC DROP-IN REPLACEMENT FORKLIFT BATTERY; GREEN TECH SOLUTION ALLOWS FOR REDUCED ENERGY CONSUMPTION, LOWER ENVIRONMENTAL CONCERNS AND INCREASED PRODUCTIVITY

Electrovaya Inc. client, a U.S. Fortune 100 company, has placed a second purchase order with Electrovaya for its lithium-ion ceramic forklift battery. The second order amounted to $167,000 (U.S.) ($214,000 (Canadian)).

This purchaser is one of the five U.S. Fortune 500 companies which have earlier issued initial purchase orders to Electrovaya for its forklift batteries. Over the last three months, Electrovaya has added four Fortune 500 clients for its lithium-ion ceramic drop-in replacement battery and the company is pleased with the continuing momentum evidenced by this U.S. Fortune 100 purchaser adding a second purchase order to its initial order last month.

The Electrovaya battery can improve productivity, reduce maintenance and has the potential to reduce peak demand as well as decrease electricity usage in heavy-duty 24/7 distribution and manufacturing environments. The Electrovaya batteries include the proprietary ceramic separator, Separion, which provides enhanced safety and cycle life. While the sales cycle could be long and there is no guarantee that the company's initiatives will result in significant orders, Electrovaya is pleased with the performance of its batteries in both testing and initial deployments and this repeat order from a U.S. Fortune 100 company.

About Electrovaya Inc.

Electrovaya designs, develops and manufactures proprietary lithium-ion ceramic batteries, battery systems and battery-related products for energy storage, clean electric transportation and other specialized applications. Electrovaya, through its fully owned subsidiary, Litarion GmbH, also produces cells, electrodes and Separion ceramic separators, and has manufacturing capacity of about 500 megawatt-hours per year.

https://www.stockwatch.com/News/Item.aspx?bid=Z-C:EFL-2539349&symbol=EFL&region=C

 

[Kostolanys Erbe]

Electrovaya has 460,000-euro lithium ion cell order



2017-12-18 17:14 ET - News Release



Mr. Alexander McLean reports

ELECTROVAYA PROVIDES UPDATE ON PURCHASE ORDERS, ANNOUNCES BOARD CHANGE

Electrovaya Inc. has received a follow-up purchase order for lithium ion cells from a truck integrator based in Germany. The order is worth approximately 460,000 euros (about $700,000). This is the latest order Electrovaya's subsidiary Litarion has received from this customer and the largest to date.

"We are very encouraged by this repeat order from our European customer," said Thomas Kagemann, director of European sales for Litarion. "We are also working closely with partner OEMs [original equipment manufacturers] to develop complex new products and markets utilizing our lithium ion batteries. While this has been a long iterative process, the OEMs continue to demonstrate confidence in our technology and in the emerging electrification market."

The company also announced today that it has initiated delivery of lithium ion ceramic batteries and chargers to two Fortune 500 companies, including Wal-Mart Canada. The deliveries are being made under previously disclosed purchase orders worth approximately $4.7-million. Deliveries are expected to be completed in the next eight to 10 weeks.

The Electrovaya batteries are equipped with an intelligent battery management system (iBMS) with proprietary software. The iBMS manages the batteries and controls the communications with the charger. The batteries are designed to work 24-seven in a fast-paced material-handling and distribution environment with rapid charging capability during operator breaks.

Separately, the company announced today that Dalton McGuinty has stepped down from the board of directors.

"We thank Dalton for his substantial contributions to Electrovaya during his time as a director, and we wish him the best in his future endeavours," said Alexander McLean, chairman.

About Electrovaya Inc.

Electrovaya designs, develops and manufactures proprietary lithium-ion ceramic batteries, battery systems and battery-related products for energy storage, clean electric transportation and other specialized applications. Electrovaya, through its fully owned subsidiary, Litarion GmbH, also produces cells, electrodes and Separion ceramic separators and has manufacturing capacity of about 500 megawatt-hours per annum. Electrovaya is a technology-focused company with extensive IP (intellectual property). Headquartered in Ontario, Canada, Electrovaya has production facilities in Canada and Germany with customers around the globe.

https://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aEFL-2547687&symbol=EFL&region=C