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Electrovaya’s Strong Year

January 2, 2012 in Electric Drive, EVs, Hybrids by Rich Piellisch  |  No Comments

Electrovaya (Toronto:EFL) more than doubled its revenues in the fiscal year ended September 30 – to $10.3 million over the previous fiscal year – as the lithium ion battery firm’s accounts receivable increased to $2.7 million, more than double the September 30, 2010 figure.

San Francisco Mayor Ed Lee was on hand as Chrysler delivered 14 PHEV Ram pickups with Electrovaya batteries to the City of San Francisco on August 2

Total working capital increased to $6.8 million.

Electrovaya specializes in SuperPolymer brand lithium ion batteries, and notes that throughout 2011, it continued to provide battery packs for the three-year, DoE-supported, nationwide Ram plug-in hybrid electric vehicle demonstration program with Chrysler. The Ram PHEVs have a 12-kilowatt-hour SuperPolymer battery packs.

A Chrysler Minivan Too

In June, 2011, Electrovaya announced its selection as a battery and battery integration supplier to Chrysler for its Town & Country Minivan plug-in hybrid electric vehicle, also to be demonstrated with DoE support.

The system design includes Electrovaya’s SuperPolymer cells along with an iBMS – intelligent Battery management system – and associated thermal, mechanical and power electrical subsystems.

Electrovaya also powers 100% battery scooters by Hero Electric.

“During fiscal 2011, we established ourselves as leading participants in key markets: the clean transportation indus-try and the large scale energy storage market,” Electrovaya chairman and CEO Dr. Sankar Das Gupta said in a release.

Electrovaya’s non-toxic manufacturing process “is becoming recognized as a vital technology for producing lithium ion batteries and we continue to explore licensing and joint venture agreements with key global partners,” Das Gupta said.

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