Electrovaya receives $1.3M for Lithium Ion SuperPolymer2.0 systems for Toronto Hydro and London Hydro

TORONTO, Nov. 12, 2014 (GLOBE NEWSWIRE) -- Electrovaya Inc. (TSX: EFL) announced that it has received a $1.3 million grant award to deliver multiple Intelligent Energy Storage Systems (IESS) at various locations with Toronto Hydro and London Hydro. This project is supported by the Ontario Ministry of Energy's Smart Grid Fund. The IESS units will be serving multiple applications including phase balancing, infrastructure deferment, electric vehicle charging and general energy storage functions.

"We are very excited to begin the project with Toronto Hydro and London Hydro where we will be delivering cutting-edge energy storage systems in the form of our innovative IESS device. The IESS is an effective smart grid solution for these two leading utilities and it provides energy storage and power quality in a single system," says Dr. Rajshekar DasGupta, VP Business Development.

All the Electrovaya IESS units are expected to be installed by mid 2015.

About Electrovaya Inc.

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 and smart grid power, consumer and healthcare markets. 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 other mission is 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 and customers around the globe. To learn more about how Electrovaya is powering mobility, please explore www.electrovaya.com

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