Electrovaya-Led Consortium Receives $1.7M

Electrovaya received a CDN$1.7 million contribution from Sustainable Development Technology Canada (SDTC), subject to final contract negotiations. The funding will be used to develop and demonstrate Electrovaya’s patented Lithium Ion SuperPolymer® battery system in a zero-emission transportation project, principally for vehicle fleet applications.

In addition to SDTC funding, this project is leveraged by an investment of CDN$3.9 million from Electrovaya and consortium partners Unicell, a manufacturer of commercial fleet vehicles and automotive parts for the Canadian and U.S. market; Purolator, a vehicle fleet operator; SouthWestern Energy, a company focused on environmentally sustainable energy solutions; and Halton Hills Hydro Ltd., a utility company.

“Environmental technologies play not only a key role in our plan to honor our Kyoto commitment, but also in our approach to climate change and clean air over the longer term,” said the Hon. Stephane Dion, Canada’s Minister of the Environment.

Dr. Sankar DasGupta, CEO of Electrovaya, noted, “There is a global push to develop and demonstrate clean transportation and we are delighted that Sustainable Development Technology Canada is supporting Electrovaya and its partners in this area of zero-emission vehicles.”

In April, Electrovaya was showcased at the 21st International Electric Vehicle Symposium in Monaco with an invited lecture alongside Ford, Audi and Toyota.