Electrovaya Added to Global Solactive Global Lithium Index

Global X Funds has launched the first ever Lithium exchange traded fund on the NYSE Arca (ticker: LIT), which will passively track the Solactive Global Lithium Index. Inclusion within the Solactive Global Lithium Index is based on strict requirements of market capitalization, liquidity, and lithium production and/or battery manufacturing focus. At launch, LIT’s basket was split nearly 50-50 between lithium producers and battery makers in seven different countries.

"We are very pleased that Electrovaya has been selected to join the world’s first lithium exchange-traded fund," said Dr. Sankar Dasgupta, Electrovaya’s Chief Executive Officer and Founder. "Given the increasing demand for lithium as the auto industry shifts its focus to lithium-powered hybrid and electric vehicles, we are delighted to represent lithium battery manufacturers in this specifically targeted window to our industry. We look forward to the increased visibility with cleantech investors."

"Of the existing ETFs that have a renewable energy play, there are few, if any, that get at the movement from the raw, critical resource level like the way this Global X Lithium ETF does," said Global X Funds CEO Bruno del Alma.

The Solactive Global Lithium Index is an industry benchmark for the global Lithium mining and Lithium battery market. The index serves as the underlying for the Global X Lithium ETF.

Electrovaya Inc. (TSX: EFL) designs, develops and manufactures proprietary Lithium Ion SuperPolymer® batteries, battery systems, and battery-related products for electric vehicles, 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 solar and wind 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.