Electrovaya Awarded $5 Million from SDTC for Plug-in Hybrid Electric Vehicle Battery Development

Electrovaya is developing its advanced, high energy density Lithium Ion SuperPolymer® battery and related systems technologies for a test fleet of plug-in hybrid electric vehicle (PHEV) versions of the Ram 1500 pickup from Chrysler Group’s Ram Truck Brand. The SDTC funding will support the continued development of advanced cells and battery modules, the development of a higher throughput battery cell and module production line, and the lifetime performance validation of battery packs to establish commercial value of spent automotive packs.

"Our government continues to invest in projects that reflect our balanced approach to reducing emissions," said the Honourable Jim Prentice, Minister of the Environment. "This project will create high-quality jobs for Canadians now, and provide us with a healthier environment and sustainable prosperity in the future."

"High energy and power density batteries such as the ones being developed by Electrovaya are widely seen as the key to the commercialization of clean vehicles", said SDTC President and CEO Dr. Vicky Sharpe. "It is through funding during the pre-commercialization stages that Canada can lead the way in getting these technologies to the market faster and benefit from an industry which is poised for exponential growth in the next 10 years."

"Electrovaya is very pleased to partner with SDTC and Chrysler Group for advanced battery solutions that feature both Electrovaya’s proprietary Lithium Ion SuperPolymer® battery technology and its unique zero-emission manufacturing process," remarked Dr. Sankar DasGupta, Electrovaya’s CEO and founder. "The strategic support of SDTC was an integral support to Electrovaya’s earlier development of advanced battery solutions for zero-emission fleet vehicle application and for the commercial success that Electrovaya has achieved to date."

Sustainable Development Technology Canada (SDTC) is an arm’s-length foundation created by the Government of Canada which has received $1.05 billion as part of the Government’s commitment to create a healthy environment and a high quality of life for all Canadians. SDTC operates two funds aimed at the development and demonstration of innovative technological solutions. The $550 million SD Tech Fund™ supports projects that address climate change, air quality, clean water, and clean soil.

The $500 million NextGen Biofuels Fund™ supports the establishment of first-of-kind large demonstration-scale facilities for the production of next-generation renewable fuels. SDTC operates as a not-for-profit corporation and has been working with the public and private sector including industry, academia, non-governmental organizations (NGOs), the financial community and all levels of government to achieve this mandate.

Electrovaya Inc. (TSX: EFL) designs, develops and manufactures proprietary Lithium Ion SuperPolymer® batteries, battery systems, and battery-related products for the clean electric transportation, utility-scale energy storage & smart grid power, consumer and healthcare markets. The Company’s unique production process does not use toxic solvents. The Company’s mission is to accelerate clean transportation as a commercial reality with its advanced power system for all classes of zero-emission electric vehicles and plug-in hybrid electric vehicles.

The Company’s mission is also to deliver utility-scale energy storage systems for the highest efficiency in electricity storage, whether the electricity is generated from intermittent wind and solar power or from other sources. Founded in 1996 and headquartered in Ontario, Canada, Electrovaya has production facilities in Canada as well as in the US, and customers around the globe.