Electrovaya delivers Lithium Ion 2.0 battery system for Energy Storage and Reduction of Diesel Consumption at Glencore Raglan Mine

TORONTO, ON, Jan. 29, 2015 (GLOBE NEWSWIRE) -- Electrovaya Inc. (TSX: EFL) today announced that it delivered a $0.7 million Lithium Ion 2.0 energy storage system for installation at Glencore Raglan Mine. Electrovaya worked closely with Tuqliq Energy Corp. and Hatch Ltd., who were the engineering coordinators in this project. The Lithium ion battery system can accept and store energy from all sources including diesel generators, solar and wind. It is designed for remote communities and mines, which are off-grid and powered by diesel. Delivering diesel to remote sites can be expensive and occasionally fraught with uncertainties. Glencore Raglan mine consumes 50 million litres of diesel annually.

"The mining industry is focussed on reduction of Diesel usage and reduction of carbon footprint, and Electrovaya's lithium ion 2.0 technology when paired with a diesel generator allows the generator to operate at maximum efficiency, reducing diesel consumption substantially and lowering maintenance costs," said Dr. Sankar Das Gupta, CEO of Electrovaya. "The reduction of diesel consumption in a diesel generator by pairing to a lithium battery is a generic solution to many industrial sectors including mining, micro-grids and powering remote locations and it is estimated that there are about 200 million diesel generators in the world."

"Working with Tuqliq Energy and Hatch to service a global mining leader like Glencore allows Electrovaya's products to meet and exceed global standards." adds Dr. Das Gupta. "We see the global mining industry focussed on reducing operating costs and pairing the Electrovaya 2.0 battery to its diesel generators or coupled wind power or solar power complementing diesel generator production can lead to reduction of diesel usage above 30%. Furthermore the Lithium Ion battery can store energy generated from wind, solar or diesel at efficiencies greater than 90% which is the highest of all commercial energy storage technologies. We are pleased to deliver our first system into this remote off-grid application and see numerous opportunities in this large and critical power sector." says Dr. Das Gupta.