Electrovaya and Miljobil Grenland Accelerating Activities to Meet Demand
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Oct 29, 2009 08:55AM
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http://ca.us.biz.yahoo.com/iw/091029/0552996.html?.v=1&printer=1
Electrovaya and Its Joint Venture Partner Miljobil Grenland Accelerating Activities to Meet Rapidly Expanding Demand
Thursday October 29, 7:00 am ET
TORONTO, ONTARIO--(Marketwire - 10/29/09) - Electrovaya Inc. (TSX:EFL - News) today announced that it is accelerating the set-up of its joint-venture production facility in Norway with its partner Miljobil Grenland based on robust demand.
The Miljobil Grenland joint venture, of which Electrovaya is a shareholder, is establishing a Lithium Ion SuperPolymer® cell and battery pack manufacturing facility in Norway to meet the emerging demands of electric vehicles, including the Tata Motors Indica EV. Tata Motors is also a shareholder in this joint venture. This battery production facility will feature Electrovaya's unique zero-emission production process technology, which exceeds all European Union as well as stringent Norwegian environmental regulations.
"We are working closely with Electrovaya to set-up our Norwegian production to meet the European cell demand for the years 2010 to 2012" comments Miljobil Grenland CEO Ivar Brynhildsvoll. "Electrovaya's superior energy density and large format pouched cell technology are core competitive strengths. In addition, its unique clean production process is ideally suited to our goals of clean transportation. We will be visiting Electrovaya next week to accelerate our plant build-out to meet our rapidly growing and immediate production needs."
Dr. Sankar DasGupta, CEO of Electrovaya adds "We are taking steps to increase our production capabilities to meet the larger than anticipated requirements of Miljobil Grenland and our other customers. We look forward to their visit next week."