Litarion/Separion is a big big big gamble, not sure Electrovaya have a clear picture of what will be next step more an on-going process than a process fully under control, many challenges such as implemeting/financing non-NMP process in Kamenz, qualification of non-NMP process by external customers (Leclanché), JV as an electrode supplier to battery assembling unit ...

Will not be surprised they kept part of NMP line coating claimed to be profitable business, if they have customers for and get them for free stupid to dismantle all. As non-NMP process eliminates very bulky drying oven, a non-NMP line should be much more compact than NMP line, so space should not miss for "cohabitation" of both technology at Kamenz.

For sure, Litarion is a bright toolbox for an Electrovaya rebirth, Electrovaya + Litarion is a totally new company bringing them at a step they will have never achieved alone (world class plant, German technical team, high quality asset, automotive certification, ...).

Separion is a great addition not yet well priced in stock value, it is a high margin business payed 4* sales if you look polypore with nice potential for sales and JV. Probably sales volume looks probably far form expectation for Evonik following years of heavy investment but for a company like electrovaya who get almost paid to take over business, they are substantial.

Everything in place for Electrovaya 2.0, hope we will have a flow of positive news in the next months.