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Electrovaya's subsidiary Litarion GmbH announces a supply agreement for graphite NMC lithium-ion electrodes with Leclanche

TORONTO, May 5, 2015 (GLOBE NEWSWIRE) -- Electrovaya Inc. (TSX: EFL) today announced that Leclanché S.A. (SIX Swiss Exchange: LECN) and Litarion GmbH, the wholly-owned subsidiary of Electrovaya, have entered into a supply agreement for the manufacture and commercialization of Lithium ion storage systems incorporating electrodes from Litarion. Leclanché specializes in the production of large-format lithium-ion cells and energy storage and Litarion GmbH specializes in the research, development, and manufacturing of high performance NMC based electrodes. The two companies will build on the extensive experience that Litarion has gained in the manufacturing of electrodes over the last 10 years and the strong cell production know-how and capability that Leclanché has implemented at its German subsidiary located in Willstaett.

This agreement is the result of several months of joint collaboration and sees two of Europe's largest lithium ion production capacities increasing their collaboration.

Pierre Blanc, Leclanché's Chief Technical and Industrial Officer commented: "I am delighted that we have concluded this agreement with Litarion GmbH, whose electrode development and production capability is world class. Through this agreement two of Europe's largest lithium ion manufacturing capabilities are tightening their relationship to offer the market leading electrochemical storage systems. The combination of Litarion's capabilities in electrode manufacturing, and Leclanché's state of the art cell manufacturing using our proprietary manufacturing and separator technology have resulted in lithium ion cells with outstanding performance. Through this agreement we further secure this collaboration."

André Mecklenburg, Litarion´s Chief Operational Officer commented: "The last six months has been a period of constant change at Litarion GmbH. Shifting from a one-hundred-percent supplier to the automotive industry, we are now focusing on the emerging market of energy storage systems and industrial applications.

We are extremely happy having this supply contract with Leclanché, fitting excellently in our new core field of business. We are confident that the combination of our high performance electrodes together with Leclanché´s outstanding cell assembly know-how will lead to joint commercial success."

About Litarion GmbH

Litarion GmbH manufactures electrodes and ceramic separators for large-format, highly efficient lithium ion battery cells marketed under the brand names LITARION® and SEPARION®, using the latest coating and process technologies. Mainly based on NMC cathodes, graphite anodes and SEPARION® (a benchmark in ceramic separator technology), Litarion offers tailor-made solutions for its customers.

Litarion was established in 2008 as a subsidiary of Evonik Industries AG, supplying components for Lithium Ion cells and batteries mainly for the automotive industry. Litarion in April 2015 became a 100% subsidiary of Electrovaya Inc., a public company listed in the Toronto Stock Exchange (TSX: EFL). Litarion GmbH is now focusing on components for Energy storage and industrial applications battery systems in addition to its existing automotive business.

Litarion has more than 150 employees and an annual production capacity of 500 MWh (anode, cathode and separator). The company has its headquarters and production facilities in Kamenz/Saxony (Germany) and is TS 16949 certified.

For more information please go to: www.litarion.de and www.electrovaya.com

About Electrovaya Inc.

Electrovaya Inc. (TSX:EFL) designs, develops and manufactures proprietary Lithium Ion Super Polymer® batteries, battery systems, and battery-related products for energy storage, clean electric transportation, Utility Scale Energy Storage and smart grid power, consumer and healthcare markets. The Company's mission is to mitigate Climate Change by having the highest efficient energy storage systems, accelerate clean transportation with its advanced power system for all classes of zero-emission electric vehicles and plug-in hybrid electric vehicle, deliver Utility Scale Energy Storage Systems, whether the electricity is generated from intermittent wind and solar power or from other sources. Headquartered in Ontario, Canada, Electrovaya has production facilities in Canada and customers around the globe. To learn more about how Electrovaya is powering mobility, please explore www.electrovaya.com

Forward-Looking Statements

This press release contains forward-looking statements, including statements that relate to, among other things, revenue forecasts, technology development progress, plans for shipment using the Company's next generation 2.0 technology, production plans, the Company's markets, objectives, goals, strategies, intentions, beliefs, expectations and estimates, and can generally be identified by the use of words such as "may", "will", "could", "should", "would", "likely", "expect", "intend", "estimate", "anticipate", "believe", "plan", "objective" and "continue" (or the negative thereof) and words and expressions of similar import. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. Certain material factors or assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements. Important factors that could cause actual results to differ materially from expectations include but are not limited to: general business and economic conditions (including but not limited to currency rates and creditworthiness of customers); Company liquidity and capital resources, including the availability of additional capital resources to fund its activities; level of competition; changes in laws and regulations; legal and regulatory proceedings; the ability to adapt products and services to the changing market; the ability to attract and retain key executives; and the ability to execute strategic plans. Additional information about material factors that could cause actual results to differ materially from expectations and about material factors or assumptions applied in making forward-looking statements may be found in the Company's most recent annual and interim Management's Discussion and Analysis under "Risk and Uncertainties", as well as in other public disclosure documents filed with Canadian securities regulatory authorities. The Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements contained in this document, whether as a result of new information, future events or otherwise, except as required by law.

CONTACT: For more information, please contact: Email: ir@electrovaya.com Contact: Paul Hart Phone: (905) 855-4618

Source:Electrovaya Inc.