EDITOR: | May 16th, 2016

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

| May 16, 2016 | No Comments
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May 16, 2016 (Source) — Expands Electrovaya’s product offerings; Launch orders received from multiple OEMs and product delivery starting Q2, CY 2016.

Electrovaya Inc. (TSX:EFL) announces the launch of a 1kWh battery module (LITACORE1000) and an intelligent 48V, 2.3 kWh module (EV4823) as building blocks for Lithium Ion Battery Systems.

The LITACORE1000 is a 1 kWh 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, an easy building block for constructing Lithium ion battery systems.

The EV4823 is a 48V, 2.3 kWh module with an integrated intelligent battery management system (iBMSTM) complete with Canbus communications. This 48V, 2.3kWh 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 is 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 SEPARIONTM, the flexible ceramic separator membrane, and highest quality standards. The integrated Litacells contains optimized NMC/graphite based electrode chemistry.

“The 1kWh LITACORE1000 and 2.3 kWh 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 Business Development, 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.

About Electrovaya Inc.

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Electrovaya Inc. (TSX:EFL) 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 wholly 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 explorewww.electrovaya.com, www.litarion.com and www.separion.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 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”, “possible”, “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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