Electrovaya signs $500,000 MOU with SatCon

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Electrovaya signs $500,000 MOU with SatCon

posted on Oct 09, 2007 11:26PM

Electrovaya signs $500,000 MOU with SatCon

2007-10-09 17:42 ET - News Release

Mr. P.L. Hart reports

ELECTROVAYA SIGNS MEMORANDUM OF UNDERSTANDING FOR AN ADVANCED HYBRID ELECTRIC POWERTRAIN FOR US AIR FORCE RESEARCH LABORATORY

Electrovaya Inc. has entered into a $500,000 memorandum of understanding (MOU) with SatCon Technology Corp. to provide batteries for a hybrid electric vehicle (HEV) for the U.S. Air Force research laboratory.

Pursuant to the MOU, Electrovaya will work with SatCon to design, construct, test and optimize the advanced battery management unit for the HEV, as well as the enclosure for the electrical components and battery pack. This further strengthens Electrovaya's activities in batteries for transportation, plug-in hybrids and electric drives.

About SatCon

SatCon Technology is a developer and manufacturer of electronics and generators/motors for the renewable energy, hybrid-electric vehicle, grid support, high-reliability electronics and advanced power technology markets. For further information, please visit the SatCon website.

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