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Electrovaya Announces Two Repeat Purchase Orders for Lithium Ion Battery Systems Worth C$1.1 million
Electrovaya Announces Two Repeat Purchase Orders for Lithium Ion Battery Systems Worth C$1...
About this update from Electrovaya Inc.
[{"type":"text","content":"\n\n\n\nElectrovaya Announces Two Repeat Purchase Orders for Lithium Ion Battery Systems Worth C$1.1 million\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, Aug. 16, 2019\n\n\n\nTORONTO, Aug. 16, 2019 /CNW/ - Electrovaya Inc. (\"Electrovaya\" or the \"Company\") (TSX: EFL; OTCQX: EFLVF) is pleased to announce that it has received two new purchase orders totaling approximately C$1.1 million. Both orders are from existing customers. \n\n \n \n\n \nThe Company has received a ~C$0.45 million order for its Elivate line of battery systems for Materials Handling Electric Vehicles (\"MHEVs\") for an existing operator. The order was made under the Company's previously disclosed forklift sales agreement with a major OEM. In addition, Electrovaya received a ~C$0.65 million order for battery systems for Automated Guided Vehicles (\"AGV\") from an existing Fortune 500 customer. \nThe new orders provide Electrovaya with a total of more than C$5 million of open orders for MHEV, AGV and energy storage battery systems.\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 two 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 directly to large global companies, including Fortune 500 companies, the Company's ability to source s...