Electrovaya to develop Li ion battery storage for Con

2015-09-14 07:09 ET - News Release

Dr. Rajshekar DasGupta reports

ELECTROVAYA TO DELIVER BATTERY STORAGE SYSTEM TO CON EDISON FOR CLEAN ENERGY GRID SUPPORT

Electrovaya Inc. has kicked off a project for Con Edison, a leading U.S. utility, for a 0.5-megawatt-hour lithium ion battery storage system as an alternative to diesel generators, and to add energy resilience and efficiency to the electric grid.

Con Edison currently uses portable diesel generators for dispatchable, temporary on-site energy needs. The Electrovaya system is designed as a Transportable Energy Storage System (TESS). It will provide Con Edison an alternative to large mobile diesel systems and will store up to 500 kilowatts of electricity, and provide 800 kilowatt-hours of energy to the grid for the purposes of increased grid efficiency and resiliency during outages. The TESS energy storage technology provides a much cleaner method of on-demand portable energy.

"We are very excited to begin the project with Con Edison and NYSERDA to deliver a highly innovative take on an energy storage system. Con Edison worked closely with Electrovaya to develop the specifications for the TESS and ensure that it has the right performance characteristics to replace large-scale diesel generators. We believe the TESS will give the right mix of resilience, reliability, performance and cost effectiveness." says Dr. Rajshekar DasGupta, VP Business Development. "The project builds upon Electrovaya's experience with lithium ion energy storage systems and will utilize our latest technologies, including the new cell developments and ceramic separator technology from our Germany subsidiary."

"Con Edison is pleased to be working with Electrovaya on this innovative project. We believe that Electrovaya's TESS will have tremendous potential to strengthen our network and ultimately improve our service to our customers," said Margarett Jolly, Con Edison Director of Research and Development. "We worked closely with Electrovaya for some time to develop the specification for this project and are excited about seeing the results during field trials."

The project has received support through the New York State Energy Research and Development Authority's (NYSERDA) Smart Grid Program as part of Governor Cuomo's Reforming the Energy Vision (REV), a comprehensive energy strategy to build a clean, resilient and affordable energy system for all New Yorkers.

The TESS is expected to be delivered to Con Edison in Q2 2016. About Electrovaya Inc.Electrovaya Inc. (TSX: EFL) designs, develops and manufactures proprietary Lithium Ion Super Polymer2.0trademark batteries, battery systems, and battery-related products for energy storage, clean electric transportation and other specialized applications. Electrovaya, through its fully owned subsidiary, Litarion GmbH, also produces electrodes and SEPARION{A ™} ceramic separators and has manufacturing capacity of about 500MWh/annum. Electrovaya is a technology focused company, with around 500 patents protecting its technology through the combined Canadian and German groups. Headquartered in Ontario, Canada, Electrovaya has production facilities in Canada and Germany and customers around the globe. To learn more about how Electrovaya is powering mobility and energy storage, please explore www.electrovaya.com, www.litarion.comForward-Looking Statements:

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