2023-07-20 08:05 ET - News Release

Systems will use Electrovaya's Infinity technology for superior safety and longevity.

Initial deliveries planned for Q4 2023, with mass production in Jamestown, NY

TORONTO, ON / ACCESSWIRE / July 20, 2023 / Electrovaya Inc. ("Electrovaya" or the "Company") (NASDAQ:ELVA)(TSX:ELVA) a leading lithium-ion battery technology and manufacturing company, is pleased to announce the launch of its Infinity-HV battery systems, an addition to its existing Infinity product line. The Infinity-HV systems target heavy-duty, high-voltage applications including buses, delivery trucks, construction trucks, hybrid-fuel cell/battery systems and stationary energy storage systems. Electrovaya's Infinity-HV systems will offer industry-leading safety and longevity for these applications, ultimately providing users with lower liability costs, better warranty coverage and an overall lower cost of ownership.

Image of the HV-90 of the Infinity-HV product family

The new Infinity-HV systems come in two forms: The HV-90 and HV-180. They offer a nominal energy of 35 kWh and 70 kWh, respectively, and will serve both 400V and 800V applications. The systems are modular and designed to be scaled for the respective requirements. The Infinity-HV batteries use lithium-ion ceramic and UL-recognized EV series cells and have a projected 25-year lifetime for one-cycle/day applications, making them the longest lasting high voltage batteries available. Safety is a top design criterion for Electrovaya, and similar to other Infinity products, the Infinity-HV packs offer a high level of fire protection due to the Company's proprietary multi-level cell and battery fire propagation prevention technology. Infinity-HV systems will be controlled by the Company's in-house fifth generation advanced battery management system (BMS) that is currently deployed in more than 4,000 Infinity products in the field.

The Infinity-HV packs will be assembled in house at both Electrovaya's Canadian and U.S. operations, with initial deliveries of pre-production units anticipated in the fourth quarter of 2023. Electrovaya has recently installed an AI-assisted automated assembly line with advanced laser welding capabilities and cutting-edge quality control methods, which will help to accelerate product customizations to meet specific customer requirements. Mass production of the Infinity-HV products is planned at the Company's facility in Jamestown, NY.

Image of the automated assembly line at Electrovaya's Mississauga, Ontario facility

"We are excited to launch the Infinity-HV battery products and look forward to exploring the market opportunities. The Infinity-HV batteries offer unique performance characteristics, particularly with regards to safety and cycle life, and are the ideal energy storage technology for heavy duty applications," said Dr. Khadija Yazda, High Voltage Systems Product Manager at Electrovaya.

Electrovaya will be displaying the Infinity-HV products at the upcoming APTA Expo on October 9-11, 2023 in Orlando, Florida.