Electrovaya Starts Delivery Under the Multiyear Master Service Agreement with a Fortune 1000 Company


TORONTO, Ontario - Electrovaya Inc. (TSX: EFL) (OTCQX: EFLVF) announced that it is receiving purchase orders pursuant to the earlier announced Multiyear Service Agreement (MSA) with a US based Fortune 1000, NYSE listed, OEM (Original Equipment Manufacturer). Deliveries against the purchase orders have also started.



The MSA relates to Electrovaya supplying Lithium Ion Battery Modules, Battery Management Systems and related services. The estimated revenue from the MSA is about US$ 80 million (~C$$105 million) over a period of three years.



All Electrovaya's Lithium ion battery products contain its unique and proprietary flexible ceramic separator, SEPARION®, which imparts the industry leading safety in lithium ion batteries. SEPARION® is a flexible ceramic embedded separator with superior thermal resistant properties than the ubiquitous ceramic coated polyolefin separators.



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.



For more information, please contact:



North America:

Electrovaya Inc.

Telephone: 1-905-855-4618

Email: ir@electrovaya.com or sales@electrovaya.com



Europe Asia:

Litarion GmbH:

email: info@litarion.com




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