Electrovaya to Receive C$3.8 Million from Sustainable Development Technology Canada (SDTC) to develop Safe and Long Lasting Batteries for Commercial Vehicles
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 08/08/17 -- Electrovaya Inc. (TSX: EFL)(OTCQX: EFLVF) today reported that Sustainable Development Technology Canada has announced an award of C$3.8 million to Electrovaya to fund the development of safe and long-lasting Lithium Ion Ceramic batteries for commercial vehicles.
"We are delighted that SDTC will support our activities in this fast growing space of electric commercial vehicles, where high performance batteries are needed to match the increasing operational and safety requirements," said Dr. Raj DasGupta, Vice President, Business Development, of Electrovaya Inc.
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 , and .
Forward-looking statements
This 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.
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: parties with whom Electrovaya has executed a memorandum of understanding or letters of intent (each, an "MoU") not entering into a definitive agreement with Electrovaya in a timely manner or at all, or on terms different than those contained in the applicable MoU; the purchase orders actually placed by customers of Electrovaya; the customers of Electrovaya terminating the agreements or not renewing such agreements annually; general business and economic conditions (including but not limited to currency rates and creditworthiness of customers); the Company''s 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 herein under the heading "Risk Factors" in the Company''s "Annual Information Form" ("AIF") for the year ended September 30, 2016, and 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 or incorporated by reference in this document, whether as a result of new information, future events or otherwise, except as required by law.
Contacts:
Peter Koven
Bay Street Communications
(647) 496-7857
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Datum: 08.08.2017 - 12:14 Uhr
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