Electrovaya Inc. (TSX: EFL) today announced that its wholly owned subsidiary, Litarion GmbH, has signed a contract for about Euro 18.5 million (Cdn $ 27.3 million) to supply Lithium Ion battery products to a German company in the nonautomotive space. About Euro 2.8 million (Cdn $4.1) of the contract will be delivered in 2015.
“As part of our business development activities, we are finding tremendous interest for our lithium ion battery products in Germany and Europe across all business segments including emobility and energy storage. This contract is a strong start to the very large demand for our products across these multiple sectors,” says Maxime Vidricaire, Head of Business Development at Litarion.
“Our products demonstrate unique and leading characteristics including exceptional cycle life, safety and green production process. Furthermore, our state-of-the-art facility provides our products with the highest quality combined with manufacturing scale. These factors enabled us to win this contact, which we are pleased to begin executing,” said Dr. Andre Mecklenburg, Chief Operating Officer of Litarion
Below is a video link about Electrovaya’s recent transformative acquisition: https://www.youtube.com/watch?v=kzz4NHwSXgI
For more information, please contact:
Electrovaya Inc.
Telephone: 905.855.4618
Email: ir@electrovaya.com
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 electrodes and SEPARION™ ceramic separators and has manufacturing capacity of about 500MWh/annum. Electrovaya is a technology focused company, and around 500 patents protect its technology through the combined Canadian and German groups. Headquartered in Ontario, Canada, Electrovaya has production facilities in Canada and Germany and customers around the globe. To learn more about how Electrovaya is powering mobility and energy storage, please explore www.electrovaya.com, www.litarion.com and www.separion.com
Forward-Looking Statements
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