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Electrovaya Announces New Purchase Orders Worth US$1.25M (~C$1.67M) for Lithium Ion Battery Systems
Electrovaya Announces New Purchase Orders Worth US$1.25M (~C$1.67M) for Lithium Ion Batter...
About this update from Electrovaya Inc.
[{"type":"text","content":"\n\n\n\nElectrovaya Announces New Purchase Orders Worth US$1.25M (~C$1.67M) for Lithium Ion Battery Systems\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, March 28, 2019\n\n\n\nTORONTO, March 28, 2019 /CNW/ - Electrovaya Inc. (\"Electrovaya\" or the \"Company\") (TSX: EFL; OTCQX: EFLVF) today announced three new purchase orders totaling US$1.25 million (~C$1.67 million) for its Elivate line of Material Handling Electric Vehicle (MHEV) battery systems. This includes a repeat order for a Fortune 100 customer, at a site located outside  North America,  and another repeat order through a forklift OEM dealer in the United States. Electrovaya sells batteries through two channels: direct sales, and sales through OEM distribution.\n\n \n \n\n \nThe new orders provide Electrovaya with a total of more than US$4 million (C$5.4 million) of open orders for its MHEV, Autonomous Guided Vehicle (AGV) and energy storage battery products. \nElectrovaya will have its battery system product line for MHEVs and AGVs on display at the ProMat 2019 conference (Booth N6124) in Chicago from April 8-11, 2019. \nAbout Electrovaya Inc.\nElectrovaya Inc. (TSX:EFL) (OTCQX:EFLVF) designs, develops and manufactures proprietary lithium ion batteries, battery systems, and battery-related products for energy storage, clean electric transportation and other specialized applications. Electrovaya is a technology focused company with extensive IP. Headquartered in Ontario, Canada, Electrovaya has production facilities in Canada with customers around the globe. \nTo learn more about how Electrovaya is powering mobility and energy storage, please explore www.electrovaya.com.\nForward-Looking Statements\nThis press release contains forward-looking statements, including statements that relate to, among other things, the potential realization of revenue from the three newly announced purchase orders and all open orders, anticipated increased collaboration with OEMs in fiscal 2019, anticipated continued increase in sales momentum in fiscal 2019 through OEMs and directl...