Electrovaya Sells Lithium Ion Cells to European Electric Vehicle Producer Through Follow-on Purchase Order

TORONTO, ONTARIO--(Marketwired - July 13, 2017) - Electrovaya Inc. (TSX:EFL)(OTCQX:EFLVF) announced that it has sold Euro 1 million (~Cdn $1.45 million) of lithium ion cells for electric vehicle application to an electric vehicle producer. Under the terms of the order, the customer took possession late in Q3 2017, with 50% of the purchase price payable this month and the remaining 50% in September 2017.

"We are very pleased to receive this follow-on order, after the customer had earlier purchased smaller quantities of lithium ion cells from us", said Thomas Kagemann, Electrovaya / Litarion Director of Sales in Europe. "This underlines the strong commercial performance of our cells, which is viewed as one of our key differentiators in the marketplace. This order is also reflective of an increasing level of interest from electro-mobility customers in Europe for our cells, who are recognizing our industry leading safety, energy density and cycle-life".

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

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