Toronto, Ontario
Electrovaya Inc. (TSX: EFL) (the “Company”) announced today that it has filed a notice with the Toronto Stock Exchange and received its approval to purchase for cancellation, through the facilities of the Toronto Stock Exchange, up to 3,478,772 of its common shares, representing approximately 5% of its issued and outstanding common shares, which is69,575,442 shares as at January 25, 2007. Purchases may commence on January 29, 2007, and will terminate on January 28, 2008. Management and the directors of the Company are of the view that purchases of common shares of the Company from time to time at the prevailing market price would be in the best interests of the Company and its shareholders. The Company has not previously purchased its shares under a normal course issuer bid.
About Electrovaya Inc.
Electrovaya (TSX: EFL) is a developer and manufacturer of portable power solutions with its proprietary Lithium Ion SuperPolymer® battery technology. Its goal is to become the preferred provider of tablet PCs, portable power for aerospace and wireless sectors, and the developer of alternative energy applications including UPS, stand-by power, plug-in hybrids and zero-emission vehicles. The Company’s shares trade on the Toronto Stock Exchange under the symbol EFL.
For more information about the Company and its products, please visit our website at www.electrovaya.com.
For more information, please contact:
P. Hart, Chief Financial Officer
Electrovaya Inc.
tel: 905-855-4636
email: plhart@electrovaya.com