Litarion Invited to Join the European Commission’s Proposed Battery Alliance
November 06 2017 - 6:11PM
Electrovaya Inc. (“Electrovaya” or the “Company”) (TSX:EFL)
(OTCQX:EFLVF) is pleased to announce that the European Commission
has invited the Company’s fully owned subsidiary, Litarion GmbH
(“Litarion”), to participate in the proposed EU Battery Alliance
strategic initiative, and Litarion has accepted the invitation. The
European Commission is an institution of the European Union
responsible for proposing legislation, implementing decisions,
upholding the EU treaties and managing the day-to-day business of
the EU.
The Commission is clear that, while support from the Commission,
the European Investment Bank and some Member States is important,
the lead needs to stay with the industry. Others invited to
participate in the proposed Alliance include battery-users like
European automotive companies, in addition to materials suppliers
and technology partners.
Litarion has installed production capacity of approximately 500
MWh of electrodes and separators, the key components in a Lithium
Ion cell. Litarion believes this is one of the largest installed
capacities of any company in Europe and that it can contribute to
the proposed Alliance through its production capabilities,
technology excellence, know-how and experience in the field.
According to the European Commission, a roadmap for the proposed
EU Battery Alliance will be presented at the Clean Energy
Industrial Forum in February 2018.
Please see www.litarion.com for a
review of our Electrodes and SEPARION Separator
technology.
Please see www.electrovaya.com for
investor presentation and detailed product
profiles.
About Electrovaya Inc.
Electrovaya Inc. (TSX:EFL) (OTCQX:EFLVF), designs, develops and
manufactures proprietary Lithium-ion Ceramic 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 Statements
This press release contains forward-looking statements,
including statements that relate to, among other things, the
ability to drive sales through OEM channels and direct sales to
customers, ability to receive further purchase orders, ability to
deliver on such purchase orders and to do so in a timely
manner, 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; that
significant price reductions on the purchase price of products may
apply in the case of late delivery; 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 information form under the heading “Risk
Factors” and 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.
Ian Lyons, CFA VP Investor Relations
Electrovaya Inc.
ilyons@electrovaya.co
Peter Koven
Bay Street Communications
1.647.496.7857
peterkoven@baystreetcommunications.com
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