Electrovaya Inc.

Electrovaya Inc.

July 02, 2015 07:00 ET

Electrovaya Litarion Announces Further Cooperation With Leclanche: 4.2 MWH Lithium Ion Battery to Power the World's Largest Full Electric Ferry

BERLIN, GERMANY--(Marketwired - July 2, 2015) - Electrovaya's (TSX:EFL) wholly owned subsidiary, Litarion GmbH, announces its second program with Leclanche. Litarion will supply the high-performance value-added anodes and cathodes to Leclanche for the design and build of a 4.2 MWh lithium ion battery for the world's largest all electric ferry, to operate in Denmark. The ferry will carry up to 130 passengers and 36 cars to the Daenish ╙örø island.

"We are delighted to supply Leclanche with the high performance anodes and cathodes from our operation in Germany. The Electrovaya Litarion technology is well recognized to have the highest quality and we look forward to this continuing relationship with Leclanche, providing quality power and performance as well as superior reliability and durability to the battery system", said Dr. Sankar Das Gupta, CEO Electrovaya.

"Litarion's world class electrodes and production facilities combined with Leclanché's state of the art cell manufacturing, results in lithium ion cells with outstanding performance, for powering the highly innovative and energy efficient ferry. This 4.2 MWh battery will replace the ferry's Diesel powered engine allowing for energy savings of up to 50%", said Dr. Pierre Blanc, Leclanche's Chief Technical Officer.

About Electrovaya Inc.

Electrovaya Inc. (TSX:EFL) designs, develops and manufactures proprietary Lithium Ion Super Polymer2.0® 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 electrodes and SEPARION™ ceramic separators and has manufacturing capacity of about 500MWh/annum. Electrovaya is a technology focused company, with around 500 patents protecting its technology through the combined Canadian and German groups. Headquartered in Ontario, Canada, Electrovaya has production facilities in Canada and Germany and customers around the globe. To learn more about how Electrovaya is powering mobility and energy storage, please explore www.electrovaya.com, www.litarion.com.

Forward-Looking Statements

This press release contains forward-looking statements, including statements that relate to, among other things, revenue forecasts, technology development progress, plans for shipment using the Company's next generation 2.0 technology, production plans, the Company's markets, objectives, goals, strategies, intentions, beliefs, expectations and estimates, and can generally be identified by the use of words such as "may", "will", "could", "should", "would", "likely", "expect", "intend", "estimate", "anticipate", "believe", "plan", "objective" and "continue" (or the negative thereof) and words and expressions of similar import. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. Certain material factors or assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements. Important factors that could cause actual results to differ materially from expectations include but are not limited to: general business and economic conditions (including but not limited to currency rates and creditworthiness of customers); Company liquidity and capital resources, including the availability of additional capital resources to fund its activities; level of competition; changes in laws and regulations; legal and regulatory proceedings; the ability to adapt products and services to the changing market; the ability to attract and retain key executives; and the ability to execute strategic plans. Additional information about material factors that could cause actual results to differ materially from expectations and about material factors or assumptions applied in making forward-looking statements may be found in the Company's most recent annual and interim Management's Discussion and Analysis under "Risk and Uncertainties" as well as in other public disclosure documents filed with Canadian securities regulatory authorities. The Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements contained in this document, whether as a result of new information, future events or otherwise, except as required by law.

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