Electrovaya Inc. · TSX:ELVA
Electrovaya — Investor Day (May 2023)
36 slides from Electrovaya's investor day presentation, May 17, 2023
Slide 1: Battery Technology & Analyst Day
Battery Technology & Analyst Day May 17th, 2023 Toronto Stock Exchange (TSX:ELVA) & (OTCQB:EFLVD)
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements, including statements that relate to, among other things, the Company’s technololigy, roadmaps, performance attributes, sales potential and projections, market adoption estimated, customer demand, supply chain, and delivery schedule, t
Slide 3: Our Mission
Our Mission To accelerate the energy transition with safer and better batteries through technology advancement Electrovaya © 2023 3
Slide 4: Electrovaya at a Glance
Electrovaya at a Glance Commercial Launch: Production Ramp up (40% ↗) & Material Handling products Expand OEM partnership Products development HV battery: E-bus, E-truck OEM partnership: Electrovaya powers Daimler’s electric smart Direct Sales : HV material handling battery car and acquires 700 Foun
Slide 5: Electrovaya: Success based on innovation
Electrovaya: Success based on innovation Industry Leader Providing the safest multi-million-mile batteries Top-tier Customer Base Fortune 100 customers and leading OEMs Unparalleled Experience 25+ years of experience and 100+ Patents ; team of ~95 & 30+ engineers High Revenue Growth >4x since 2019 w
Slide 6: Electrovaya Capabilities
Electrovaya Capabilities Electrovaya expertise and capabilities includes designing and manufacturing lithium ion batteries cells / Modules / Packs / Battery systems and other battery-related products (BMS) Cell Module Pack High Voltage battery systems 9S2P Mod ule ule od 6PM 1S Material handling bat
Slide 7: About Electrovaya: Our locations
About Electrovaya: Our locations ❖ Canadian Headquarters: 63,000 Sq feet Facility in Mississauga, ON ❖ Module &Pack assembly & engineering development ❖ ❖ Electrovaya Labs: 25,000 Sq feet facility in Mississauga, ON ❖ Cell technology development & scale up ❖ US Headquarters: 130,000 sq feet and 52 a
Slide 8: Expansion: Jamestown Gigafactory Update
Expansion: Jamestown Gigafactory Update 130,000 sqft $0.05/kWh Industrial Facility Energy Cost The Gigafactory Plant in Jamestown, NY will allow 100% < 3 hours Electrovaya to onshore manufacturing and streamline Renewable Energy Travel to HQ and Key supply chains to support increased battery demands
Slide 9: Jamestown Gigafactory: Planned Layout Phase-1
Jamestown Gigafactory: Planned Layout Phase-1 ❖ US Manufacturing Hub: 130,000 sq feet and 52 acres facility in Jamestown, NY Cell Assembly ❖ Cell, module, and pack assembly ❖ Phase-1 planned capacity of 300 MWh/yr ❖ Powered by low cost hydro energy (~$0.05/kWh) Pack Assembly Electrovaya © 2023 9
Slide 10: Technology Solutions
Technology Solutions Electrovaya complementary technologies targeting the various EV applications. Infinity batteries provides industry leading longevity and SSBs provides industry leading energy density Infinity Batteries Solid State Batteries Commercial today In development stage Global partners &
Slide 11: Market Opportunity Summary: Infinity Platform
Market Opportunity Summary: Infinity Platform APPLICATION USAGE MARKET SIZE E-Buses ~ $9.6 Billion 12-20 hrs/day E-Delivery Addressable Trucks Market* 20-24 hrs/day ~ $4.5 Billion E-Forklifts/ Addressable Market* Warehousing Stationary ~ $4.2 Billion energy storage 12-20 hrs/day Addressable Market* B
Slide 12: Infinity Batteries: Proven technology
Infinity Batteries: Proven technology Lithium-ion ceramic cells with highest cycle life and safety setting the industry standards. Material Handling Equipments OEM Partners (not a full list) High Cycle Life Lowest Cost of Ownership Autonomous Guided Robots Safety OEM Partners (not a full list) Zero F
Slide 13: Infinity Batteries: Commercial Ecosystem
Infinity Batteries: Commercial Ecosystem End Users Examples (not a complete list) Retail & Manufacturing Food distribution eCommerce OEM Customers (not a complete list) *Confidential User Logistics Electrovaya © 2023 13
Slide 14: Multi-Million-Mile Batteries- In a Class of Its Own (1/2)
Multi-Million-Mile Batteries- In a Class of Its Own (1/2) Electrovaya Patented Technology provides the longest Cycle life in Industry: Electrovaya batteries can operate for ~14,000 cycles equivalent to >25 years with 1 cycle/day Third party testing Electrovaya batteries different C rates Electrovaya
Slide 15: Multi-Million-Mile Batteries- In a Class of Its Own (2/2)
Multi-Million-Mile Batteries- In a Class of Its Own (2/2) Electrovaya Patented Technology provides the longest Cycle life in Industry: Electrovaya batteries can operate for ~14,000 cycles equivalent to >25 years with 1 cycle/day Internal testing Electrovaya batteries different SOC Temperature: 22°C,
Slide 16: Multi-Million-Mile Batteries
Multi-Million-Mile Batteries 500 1000 2000 5000 9000 Cycles *Cycle equivalent: 14,000 cycles is equivalent to 3,500,000 miles for 250-mile range car with 1 charging cycle per day Electrovaya © 2023 16
Slide 17: Lowest Cost of Ownership
Lowest Cost of Ownership Electrovaya’s batteries have best cycle life in the industry, providing the lowest total cost of ownership when compared to other lithium ion batteries, fuel cells and lead acid batteries. Heavy Duty Vehicles (HDV) Operate at ~2 cycles per day → Battery replacement needed ev
Slide 18: Superior Safety
Superior Safety Multi-level cell and system safety technology with end result being a non-propagating battery design Electrovaya Ceramic vs Coated PO Separator ELV Coated PO ELV Coated PO 15 min at 130°C Third Party fire propagation test An Electrovaya 24V battery AFTER fire propagation testing for
Slide 19: BMS Technology
BMS Technology 5th generation advanced battery management system developed in house (hardware & Software) Robust design that withstood years of difficult applications with no failures or safety incidents Advanced architecture Modular Hardware Design Improved safety controls Connection & Communicatio
Slide 20: EV-infinity cell series: Road Map
EV-infinity cell series: Road Map Over 7 years of R&D, EV infinity series cells witnessed ~30% increase in capacity from 40Ah to 52Ah without compromising the superior safety and longevity of the current generation cell. High Energy Density Cells: EV-65 & EV-74 Low Cost cells: NMC613/Graphite EV-FP-4
Slide 21: Summary: Infinity Batteries
Summary: Infinity Batteries EV infinity Leading Competitor EV-infinity series cells with higher energy density (52Ah) VS (NMC) received UL2580 & UN38.3 certifications (highest safety standard) Cost (TCO) Infinity cells demonstrated Industry-Leading Cycle Life at Third Party Test Lab (Batteries comple
Slide 22: Product landscape: Infinity Batteries
Product landscape: Infinity Batteries 24V, 36V, 48V Forklifts (~40 Battery Models) Gen 2 Forklift Batteries AGV AGVs Walkie Pallet Jacks E-bus Hybrid Fuel Cells E-truck s Stationary ESS 2023 2024 Electrovaya © 2023 22
Slide 23: Technology Solutions
Technology Solutions Electrovaya complementary technologies targeting the various EV applications. Infinity batteries provides industry leading longevity and SSBs provides industry leading energy density Infinity Batteries Solid State Batteries Commercial today In development stage Global partners &
Slide 24: Next Gen Solid State batteries: Energy density
Next Gen-Solid State batteries EV penetration in the global vehicle market 2022 2035 400 ELV Solid State Energy density (Wh/Kg) 2-3% 85% of new cars 300 Limitation of conventional LIBs Battery Requirements for E-cars adoption NMC** ELV 200 Energy Density > 350 Wh/Kg (>750 Wh/L) Infinity - NMC LFP**
Slide 25: Solid-State Batteries: Value proposition
Solid-State Batteries: Value proposition Energy dense electrodes Enables the use of Lithium metal anodes with 10x higher specific capacity than conventional graphite ⇒ 20%-40% increased energy density Solid Electrolyte High decomposition voltage (larger operating voltage window) Use of liquid electr
Slide 26: Ceramic separators: Unparalleled Experience
Ceramic separators: Unparalleled Experience The transition to Lithium Metal based batteries is almost certainly going to require the use of ionic conducting ceramic based electrolyte materials Electrovaya Strength Patented unique ceramic separator offers unparalleled safety. (36 patents) Surface Sub
Slide 27: Solid-State Batteries: Proprietary coating technology
Solid-State Batteries: Proprietary coating technology Non-Toxic electrode coating process with lower Capex and Opex Patent # : US20190267616A1 ❖ Conventional electrode processes use toxic NMP solvents. ❖ Electrovaya disruptive technology uses solvent-free coating that allows thicker cathode coating
Slide 28: Solid-State Batteries: Electrovaya's Approach
Solid-State Batteries: Electrovaya’s Approach Solid State battery platform with versatile proprietary technology Four Solid State Battery Related Patents Filed Multi-layer Pouch stack Single layer Pouch stack Anode Current collector Proprietary Ceramic Composite separator Cathode High loaded NMC + C
Slide 29: Solid-State Batteries: Update
Solid-State Batteries: Update Proprietary Synthesized ❖ In-house production of critical ion conducting ceramic materials Solid State Pouch cell Ceramic powder using cost-effective and scalable processes ❖ Manufacturable approach for the preparation of ceramic composite separator ❖ Single layers and
Slide 30: Jamestown Gigafactory Roadmap (1/2)
Jamestown Gigafactory Roadmap (1/2) Plant Expansion to 2-5 GWh Pack, Module & Cell Assembly and Test Plant Expansion to 600MWh-1GWh Pack, Module & Cell Assembly and Test Pack and Module Assembly and Test Cell manufacturing @ 300MWh Capacity Module Assembly Pack Assembly & Test March 2025 2026-2027 2
Slide 31: Jamestown Gigafactory Roadmap (2/2)
Jamestown Gigafactory Roadmap (2/2) ❖ Initial operations in Jamestown will mirror what is done in Mississauga ❖ Pack and Module assembly to increase overall capacity ❖ Cell assembly expected to go live in calendar Q1 2025 ❖ IRA expected to provide $10 per KWh for modules and $35 per KWh for cells. ❖
Slide 32: Infinity Battery Scaleup Potential
Infinity Battery Scaleup Potential As production capacity increases so does potential revenue supplementing max capacity from Mississauga of ~100MWh or ~$70m ❖ Stage 1 - (Existing Site) 300MWh - ~$150m-200m ❖ Stage 2 - 600MWh - 1GWh - ~$450m-$750m ❖ Stage 3 - 2-5GWh - >$1bn Electrovaya © 2023 32
Slide 33: Material Handling Adoption- Case Study
Material Handling Adoption- Case Study Expected Lithium Ion Battery adoption Market opportunity for Electrovaya using one OEM rates from market data production if their volume does not change 2023 5-10% 3,000 units ~$50m 2024 12-15% 4,200 units ~$70m 2025 ~20% 7,600 units ~$130m 2026 ~30% 12,000 uni
Slide 34: High Voltage Offerings: EBus, ETruck & Energy Storage
High Voltage Offerings: EBus, ETruck & Energy Storage ❖ E-Buses - Currently only a ~15% adoption rate ❖ Manufacturers expect that to move to ~50% by 2025 with the incentives on offer both in Canada and the US. ❖ For a manufacturer producing 1,000 buses per year, the 500 e-buss produced would represe
Slide 35: Electrovaya Summary
Electrovaya Summary Pure Play Battery Tech/Manufacturing Leading Partners Electrovaya is a Pure Play North American Lithium ion Electrovaya has strong OEM relationships with some of Battery Technology and Manufacturing company on track the leading industrial vehicle manufacturers and for Rapid Growt
Slide 36: Investor & Media queries, please contact
Investor & Media queries, please contact: Jason Roy Director, Corporate Development & Investor Relations Phone: 905-855-4618 Email: jroy@electrovaya.com Web: www.electrovaya.com Toronto Stock Exchange (TSX:ELVA) & (OTCQB:EFLVD)