Press Releases

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  Electrovaya Reports Financial Results for Q3 2018

  Toronto, Ontario - August 14, 2018 – Electrovaya Inc. (“Electrovaya” or the “Company”) (TSX: EFL; OTCQX: EFLVF) today reported its financial results for the fiscal third quarter ended June 30, 2018 (“Q3 2018”). All numbers are in U.S. dollars unless otherwise noted.     For more information, please contact: Peter Koven Bay Street Communications Telephone: 1.647.496.7857 Email: peterkoven@baystreetcommunications.com About Electrovaya Inc. Electrovaya Inc. (TSX:EFL) (OTCQX:EFLVF) 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. Headquartered in Ontario, Canada, Electrovaya is a technology focused company with extensive IP, supplying leading global customers. To learn more about how Electrovaya  is powering mobility and energy storage, please explore  www.electrovaya.com. Forward-Looking Statements This press release contains forward-looking statements, including statements that relate to, among other things, the Company’s need for commoditized contract manufacturing facilities in its product development process, the effect of Litarion’s insolvency filing on the Company’s financial position and performance, the future direction of the Company’s business and products, the effect of a structured sale of Litarion, including on the Company’s overhead and operations, the Company’s ability to source supply to satisfy demand for its products and satisfy current order volume, revenue forecasts,anticipated orders and deliveries in CY2018 and beyond, demand for the Company's products, technology development progress, pre-launch plans, plans for product development, plans to work with OEMs, plans to sell directly to user, 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. Material assumptions used to develop forward-looking information in this news release include, among other things, that current customers will continue to make and increase orders for the Company’s products, that the Company’s alternate supply chain will be adequate to replace material supply and manufacturing, that the Company’s interpretation of the effect of any comfort given to Litarion’s auditors of the Company’s financial support for Litarion’s operations is correct, and that Litarion’s insolvency process will proceed in an orderly fashion that will satisfy Litarion’s debt without a significant negative effect on the Company or its assets. Important factors that could cause actual results to differ materially from expectations include but are not limited to: actions taken by creditors and remedies granted by German courts in the Litarion insolvency proceedings and their effect on the Company’s business and assets, negative reactions of the Company’s existing customers to Litarion’s insolvency process, the ability to sell the Company’s premises or to do so at a price reflecting appropriate value, 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 Annual Information Form (“AIF”) for the year ended September 30, 2017 and 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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  Electrovaya Enters into $1.5 Million Secured Loan Facility

  Toronto, Ontario - August 13, 2018 – Electrovaya Inc. (“Electrovaya” or the “Company”) (TSX:EFL) (OTCQX:EFLVF) announces that it has entered into a secured demand loan facility with a corporation controlled by a director of the Company. The loan facility is for the principal amount of $1,500,000 with interest payable at 10% per annum accruing until a demand for repayment is made or the facility is repaid in full, and is evidenced by a promissory note in favour of the lender. The Company’s obligations under the loan facility will be guaranteed by Electrovaya Corp. and 1408871 Ontario Inc., subsidiaries of the Company. The guarantee of 1408871 Ontario Inc. will be secured by a fourth charge on the Company’s property at 2645 Royal Windsor Dr., Mississauga, Ontario, L5J 1K9.  $500,000 was drawn on the facility in advance. The transaction is a “related party transaction” for Electrovaya within the meaning of that term under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (“MI 61-101”) as the lender under the facility is controlled by a director of the Company. The entering into of the loan facility is exempt from the formal valuation and minority approval requirements under MI 61-101 as the fair market value of the consideration for the transaction, insofar as it involves interested parties, is not more than 25% of the market capitalization of Electrovaya at the time the transaction was agreed to. This news release is being issued less than 21 days before the expected closing date of the loan facility. The Company believes such completion is reasonable in the circumstances in order to increase the Company’s working capital for the fulfilment of customer purchase orders. For more information, please contact: Peter Koven Bay Street Communications Telephone: 1.647.496.7857 Email: peterkoven@baystreetcommunications.com About Electrovaya Inc. Electrovaya Inc. (TSX:EFL) (OTCQX:EFLVF) 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. Headquartered in Ontario, Canada, Electrovaya is a technology focused company with extensive IP, supplying leading global customers. To learn more about how Electrovaya  is powering mobility and energy storage, please explore  www.electrovaya.com. Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements, including statements that relate to, among other things: the anticipated completion of the loan facility and the timing thereof; the terms of the loan facility; and the Company’s objectives, goals, strategies, intentions, beliefs, expectations and estimates. Forward-looking statements 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. Material assumptions used to develop forward-looking information in this news release include, among other things, that the transaction will close on the expected terms and in the expected timeframe, that current customers will continue to make and increase orders for the Company’s products, that the Company’s alternate supply chain will be adequate to replace material supply and manufacturing, that the Company’s interpretation of the effect of any comfort given to Litarion’s auditors of the Company’s financial support for Litarion’s operations is correct, and that Litarion’s insolvency process will proceed in an orderly fashion that will satisfy Litarion’s debt without a significant negative effect on the Company or its assets. Important factors that could cause actual results to differ materially from expectations include but are not limited to: actions taken by creditors and remedies granted by German courts in the Litarion insolvency proceedings and their effect on the Company’s business and assets, negative reactions of the Company’s existing customers to Litarion’s insolvency process, the ability to sell the Company’s premises or to do so at a price reflecting appropriate value, 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 Annual Information Form for the year ended September 30, 2017 and 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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  Electrovaya Announces Date of Earnings Release and Conference Call to Discuss the Quarter ended June 30, 2018 Financial Results

  Toronto, Ontario - August 8, 2018 – Electrovaya Inc. (TSX: EFL) (OTCQX:EFLVF) today announced that it will release the financial results for the quarter ended June 30, 2018 on Tuesday August 14th, 2018 after the markets close. CEO Dr. Sankar Das Gupta and EVP & CFO Richard Halka will host a conference call on Wednesday August 15th, 2018 at 8:00 a.m. Eastern Time (ET) to discuss the results and provide a business update. Conference call details will be provided with the earnings release. For more information, please contact: Peter Koven Bay Street Communications Telephone: 1.647.496.7857 Email: peterkoven@baystreetcommunications.com About Electrovaya Inc. Electrovaya Inc. (TSX:EFL) (OTCQX:EFLVF) 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 is a technology focused company with extensive IP. Headquartered in Ontario, Canada, Electrovaya has production facilities in Canada  with customers around the globe. To learn more about how Electrovaya  is powering mobility and energy storage, please explore  www.electrovaya.com.

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  Electrovaya Announces Two Follow-on Purchase Orders for a total of ~US$1.3 million (~C$1.7 million)

  Toronto, Ontario - August 1, 2018 – Electrovaya Inc. (“Electrovaya” or the “Company”) (TSX: EFL) (OTCQX:EFLVF), announces two follow-on purchase orders from current customers totalling ~US$1.3 million (~C$1.7 million) for its ELivate line of forklift battery systems and energy storage modules. Electrovaya is pleased to see a good flow of repeat orders in the Materials Handling Electric Vehicle (MHEV) and Automated Guided Vehicle (AGV) markets. Electrovaya is focused on supplying lithium ion battery systems for the MHEV sector, which the Company believes to be a large and growing market opportunity. The Company supplies batteries for newly-manufactured electric trucks, as well as replacement batteries for existing fleets powered by lead acid batteries. Electrovaya believes it is the leading provider of lithium ion batteries for the emerging forklift market in North America, reflecting the superior performance of its batteries. For more information, please contact: Peter Koven Bay Street Communications Telephone: 1.647.496.7857 Email: peterkoven@baystreetcommunications.com About Electrovaya Inc. Electrovaya Inc. (TSX:EFL) (OTCQX:EFLVF) 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. Headquartered in Ontario, Canada, Electrovaya is a technology focused company with extensive IP, supplying leading global customers. To learn more about how Electrovaya is powering mobility and energy storage, please explore www.electrovaya.com. Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements, including statements that relate to, among other things the future direction of the Company’s business and products, the Company’s ability to source supply to satisfy demand for its products and satisfy current order volume, revenue forecasts, ,anticipated orders and deliveries in CY2018 and beyond, demand for the Company's products, technology development progress, pre-launch plans, plans for product development, plans to work with OEMs, plans to sell directly to user, 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. Material assumptions used to develop forward-looking information in this news release include, among other things, that current customers will continue to make and increase orders for the Company’s products, that the Company’s alternate supply chain will be adequate to replace material supply and manufacturing, that the Company’s interpretation of the effect of any comfort given to Litarion’s auditors of the Company’s financial support for Litarion’s operations is correct, and that Litarion’s insolvency process will proceed in an orderly fashion that will satisfy Litarion’s debt without a significant negative effect on the Company or its assets. Important factors that could cause actual results to differ materially from expectations include but are not limited to: actions taken by creditors and remedies granted by German courts in the Litarion insolvency proceedings and their effect on the Company’s business and assets, negative reactions of the Company’s existing customers to Litarion’s insolvency process, the ability to sell the Company’s premises or to do so at a price reflecting appropriate value, 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 Annual Information Form (“AIF”) for the year ended September 30, 2017 and 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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