Electrovaya Completes First Commercial Delivery of Replacement Forklift Lithium Ion Ceramic Batteries
July 18 2017 - 6:30AM
Electrovaya Inc. (TSX:EFL) (OTCQX:EFLVF) today announced that it
has completed delivery of 36V 960 Ah Lithium Ion Ceramic batteries
and associated chargers to Mondelez International. The order
was worth US$ 634,000 (C$ 804,000).
The 36V 960 Ah batteries will be used in Class 2 forklifts and
will directly replace the lead acid batteries previously used by
Mondelez International. The 36V 480 Ah batteries will also be
used in Class 1 vehicles, again replacing lead acid
batteries. Electrovaya’s batteries have fast charging
capabilities, providing the customer with the opportunity to charge
during lunch or other breaks.
“We are delighted that Mondelez International chose the
Electrovaya batteries after extensive testing as well as approval
by the OEM truck manufacturer,” said Alexander Skrypko, Vice
President, Engineering at Electrovaya . “The batteries
are equipped with an intelligent Battery Management System (iBMS™)
with proprietary software,” said Mr. Skrypko.
The iBMSTM manages the batteries and controls the communications
with the charger. The cells in the battery contain the
ceramic separator, SeparionTM, which delivers added safety and
cycle life performance. The battery is designed to work 24/7
in a fast-paced warehouse environment with rapid charging
capability during operator breaks.
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, through its fully owned subsidiary,
Litarion GmbH, also produces cells, electrodes and SEPARION™
ceramic separators and has manufacturing capacity of about
500MWh/annum. Electrovaya is a technology focused company with
extensive IP. Headquartered in Ontario, Canada, Electrovaya has
production facilities in Canada and Germany with customers around
the globe. To learn more about how Electrovaya and Litarion is
powering mobility and energy storage, please explore
www.electrovaya.com, www.litarion.com and www.separion.com
Forward-Looking StatementsThis
press release contains forward-looking statements, including
statements that relate to, among other things, revenue forecasts,
technology development progress, 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. Important factors that could cause actual results to
differ materially from expectations include but are not limited to:
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 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.
For more information, please contact:
North America:
Peter Koven,
Investor Relations
Telephone: 1.647.496.7857
Email: peterkoven@baystreetcommunications.com
For Sales in North America:
Carlos Carranza
Electrovaya Inc.
Director Sales & Marketing
Telephone: +1-905-855-4617
email: sales@electrovaya.com
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