Significant accounting policies
Nature of operations
On April 2, 2002, Electrovaya (the “Company”) changed its name from Electrofuel Inc. Electrovaya Inc. is an early stage manufacturer and marketer of advanced, high energy, rechargeable batteries based on its patented lithium ion SuperPolymer technology. These consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries.
The Company expects to continue to develop its product lines and explore other potential applications using the developed technology.
The Company has no distinct operating segments and has no operating assets located outside of Canada.