Electrovaya Inc.

Electrovaya Inc.

June 14, 2005 17:00 ET

Electrovaya receives Frost and Sullivan's Technology of the Year Award

TORONTO, ONTARIO--(CCNMatthews - June 14, 2005) - Electrovaya Inc. (TSX:EFL), (www.electrovaya.com) world leader in lithium ion SuperPolymer® battery technology, has been awarded the 2005 Advanced Energy Storage Excellence in Technology of the Year Award. According to Miriam Nagel, Industry Analyst, Frost & Sullivan "This achievement goes to Electrovaya, Inc. in recognition of the company's pioneering efforts in the development of the novel lithium ion SuperPolymer® technology, which delivers the highest energy by volume and weight among all existing commercial batteries, and which is powering a range of innovative end user devices."

Nagel further notes that "Through its continuous battery research and development, Electrovaya is able to play a competitive role in the mobile computing industry, alternative transportation, and the aerospace industry. While participating in all of these industries in parallel, Electrovaya's battery capabilities continue to expand, ultimately increasing both its efficiencies and performance." Dr. Sankar Das Gupta, CEO of Electrovaya expresses that "We are honoured to receive this award from Frost & Sullivan, and see it as evidence of our commitment to excellence in innovation. We are proud to be recognized as the leading company in energy storage technology."

About Electrovaya:

Electrovaya's goal is to become the leading provider of tablet PC's, portable power for the notebook computer, aerospace and wireless sectors, and to apply its technology to a broad spectrum of alternative energy applications including UPS, stand-by power and zero-emission vehicles. It develops, manufactures, and sells high value products globally using award winning patented proprietary lithium ion SuperPolymer® rechargeable battery technology, that delivers the highest energy density of any battery technology on the market today.

About Frost & Sullivan:

Frost & Sullivan, a global growth consulting company founded in 1961, partners with clients to create value through innovative growth strategies. The foundation of this partnership approach is its Growth Partnership Services platform, whereby they provide industry research, marketing strategies, consulting, and training. A key benefit that Frost & Sullivan brings to its clients is a global perspective on a broad range of industries, markets, technologies, econometrics, and demographics. With a client list that includes Global 1000 companies, emerging companies, as well as the investment community, Frost & Sullivan has evolved into one of the premier growth consulting companies in the world.

For more information about Electrovaya and its products, please visit: www.electrovaya.com

Contact Information

  • Electrovaya Inc.
    Ashley Ainsworth
    (905) 855-4610 ext. 3061
    2645 Royal Windsor Dr.
    Mississauga, Ontario, Canada, L5J 1K9