Electrovaya Announces Purchase Orders from Two Customers Through a Leading Lift Truck OEM Dealer

Toronto, Ontario – May 4, 2018 – Electrovaya Inc. (“Electrovaya” or the “Company”) (TSX: EFL) (OTCQX:EFLVF), is pleased to announce purchase orders from two customers totalling $511,000 (Cdn ~$656,000) for its ELivate line of forklift battery systems. One of the orders is from a Fortune 500 company and existing customer of Electrovaya. Th other order is from a new customer. Both orders were finalized through a lift truck OEM dealer. Electrovaya is focused on supplying lithium ion battery systems for materials handling electric vehicles (MHEVs), 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.