Electrovaya's German subsidiary Litarion receives US $4.2 million (Cdn $5.4 million) contract for Lithium Ion Cells
April 13 2016 - 3:22PM
Electrovaya Inc. (TSX:EFL) today announced that its wholly owned
subsidiary, Litarion GmbH, has received purchase orders for about
US$4.2 million (Cdn $5.4 million) to supply Lithium Ion cells for
an energy storage application.
The purchase order is for delivery during Q3 CY2016.
About Electrovaya Inc. 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 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
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.
CONTACT: For more information, please contact:
North America:
Electrovaya Inc.
Telephone: 1.905.855.4618
Email: ir@electrovaya.com or sales@electrovaya.com
Europe & Asia:
Litarion GmbH:
email: info@litarion.com
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