Electrovaya Reports Financial Results for Fiscal 2016 - Seite 2

Marketing developments in addition to above are:

• Branding: A new website was launched in August 2016. The ceramic separator technology is a key differentiator and often the Electrovaya battery is named as the "Lithium Ion Ceramic Battery".
• Trade Shows, Expositions and Financial Conferences: Electrovaya showcased its technology in key trade shows in Europe, North America and Asia. The Trade shows were in sectors including utility energy storage, electric-mobility, solar energy, alternate energy, materials handling and batteries. In the Financial sector, Electrovaya spoke at the Barclays Energy Revolution Conference, Exane BNP Paribas' Disruptive Technology, Berenberg's Battery conference, Canaccord Genuity's Growth conference and attended the Roth New Industrial conference.

Technology Developments:
Electrovaya's research group continued to develop technology in a number of areas:

• Cell Energy Density: A continuous development program is underway to increase the energy density of its cells and in August, 2016 a 44Ah cell was announced which increased the energy density of the 40Ah cell announced earlier in November 2015. A road map for continual increase in energy density is an important research objective for Electrovaya.
• Product Innovation: a range of products including a 1kWh module, a 2.3kWh 48V Litastore module as well as a 36V Fork-lift battery system was developed.
• A 20micron Separion™: a thinner ceramic embedded separator was developed.
• Intelligent battery management systems (iBMS™): have been developed and are continuously updated to provide good control and monitoring of the Electrovaya batteries. This also positions Electrovaya for "Internet of things" capability.

Commenting on the results Electrovaya EVP and CFO, Richard Halka stated, "FY2016 has been transitional for us,the critical element being our working capital facility which we expect will allow us to expand production and grow sales. Our inventory is at levels where we can execute on planned deliveries".

"FY2016 has been an important pivotal year and Electrovaya, with its new products, growth in relationships and emphasis on new markets, is well positioned to grow from CY2017", said Dr. Sankar Das Gupta, Chair and CEO Electrovaya.

In FY2016 our long term Board member, Dr. Bernard Fleet Ph.D., D.Sc, FRSC, passed away. We will all miss Dr. Fleet's great passion for climate change mitigation, for electric vehicles and electrochemistry along with his inimitable sense of humor and sage advice.