Litarion is more than transformational, it is a new company, if things run well last ten years have no importance and we could enter in year 1 of Electrovaya 2.0. Sure still need to have a proof that non-NMP process could be industrialized at large scale, proof (if any) will come from providing ex non-NMP coating to external customers such as Leclanché and/or JV. But a good hint of interest of non-NMP technology are Johnson Control own results for US DOE mention previously on this board.

"And if it was hugely profitable to simply sell the SEPARION technology globally, I do not see why companies like Daimler and Evonik would be so desparate to dump it."

Well, 16M$ Separion sales expectation only for China in 2016 is substantial for Electrovaya but very far from expectation for Evonik (a +15 Bds company) investing since more than 15 years in this technology, should compare apple with apple. Daimler make same conclusion has BMW, Renault, GM, ... let's buy excellent cells (mainly LG) at competitive cost and concentrate on battery packs production were they can make a difference and probably a profit.

Electrovaya as all small caps is a risky investement but you could bet sometimes incredible return.

What is sure is that the story has never been so strong, tend to read their promise on a much more positive tone, if confirm trend is good, could be nice and could be fast.