BARCELONE, ON, Jan. 29, 2015 (GLOBE NEWSWIRE) -- Electrovaya Inc. (TSX: EFL) today announced that it delivered your $0. 7 million Lithium Ion two . 0 energy storage system for the installation at Glencore Raglan My service. Electrovaya worked closely with Tuqliq Energy Corp. and Hatch Limited., who were the engineering coordinators of this project. The Lithium ion battery software program can accept and store capacity from all sources including dieselkraftstoff generators, solar and wind. You'll find it designed for remote communities and fosse, which are off-grid and powered all by diesel. Delivering diesel to a muslim sites can be expensive and occasionally full of with uncertainties. Glencore Raglan my very own consumes 50 million litres behind diesel annually.
"The mining car parts market is focussed on reduction behind Diesel usage and reduction behind carbon footprint, and Electrovaya's li ion 2 . 0 technology when associated with a diesel generator allows often the generator to operate at maximum speeds, reducing diesel consumption substantially and so lowering maintenance costs, " dietary fad Dr . Sankar Das Gupta, CHIEF EXECUTIVE OFFICER of Electrovaya. "The reduction behind diesel consumption in a diesel dynamo by pairing to a lithium power is a generic solution to many professional sectors including mining, micro-grids and so powering remote locations and it is likely that there are about 200 million dieselkraftstoff generators in the world. "
"Working by working with Tuqliq Energy and Hatch toward service a global mining leader because Glencore allows Electrovaya's products to fulfill and exceed global standards. type adds Dr . Das Gupta. "We see the global mining industry concentrated on reducing operating costs and so pairing the Electrovaya 2 . zero battery to its diesel power generators or coupled wind power or a solar power complementing diesel generator erection, edification can lead to reduction of diesel custom above 30%. Furthermore the Li ion battery can store energy gained from wind, solar or dieselkraftstoff at efficiencies greater than 90% that is definitely the highest of all commercial energy storing it technologies. We are pleased to deliver your first system into this a muslim off-grid application and see numerous assets in this large and critical energy sector. " says Dr . Ein Gupta.
Electrovaya Inc. (TSX: EFL) designs, develops and manufactures secret Lithium Ion Super Polymer® batteries, power systems, and battery-related products for the energy storage, clean electric vehicles, Utility Scale Energy Storage and so smart grid power, consumer and so healthcare markets. The Company's mission constantly to mitigate Climate Change by having a very high efficient energy storage systems, boost clean transportation with its advanced energy system for all classes of zero-emission electric vehicles and plug-in amalgam electric vehicle, deliver Utility Balance Energy Storage Systems, whether the ardor is generated from intermittent close and solar power or from other recommendations. Headquartered in Ontario, Canada, Electrovaya has production facilities in Canada and so customers around the globe. To learn more about how Electrovaya is powering mobility, please enjoy www.electrovaya.com
This press release contains forward-looking statements, including statements that refer to, among other things, the financing target plant life Company's markets, objectives, goals, tools, intentions, beliefs, expectations and shows, and can generally be identified using words such as "may", "will", "could", "should", "would", "likely", "expect", "intend", "estimate", "anticipate", "believe", "plan", "objective" and "continue" (or the pessimistic thereof) and words and words and phrases of similar import. Although the Little} believes that the expectations reflected a great forward-looking statements are reasonable, many of these statements involve risks and concerns, and undue reliance should not be affixed to such statements. Certain material aspects or assumptions are applied to generate forward-looking statements, and actual satisfaction may differ materially from those shown or implied in such statements. There isn't really guarantee that the Company will raise the completely Cdn$3. 0 million and a in addition tranche of the financing may not be filled in. Important factors that could cause actual leads to differ materially from expectations name but are not limited to: general smaller business and economic conditions (including persons limited to currency rates and attractiveness to a lender, of customers); Company liquidity and so capital resources, including the availability of supplemental capital resources to fund its situations; level of competition; changes in laws and regulations; interessante and regulatory proceedings; the ability to shift products and services to the changing market; the knowledge of attract and retain key operatives; and the ability to execute strategic schematics. Additional information about material factors in a position to cause actual results to differ materially from expectations and about material aspects or assumptions applied in making forward-looking statements may be found in the Company's new annual and interim Management's Argument and Analysis under "Risk and so Uncertainties", including in particular from commence to 36 to 37, as well as in additional public disclosure documents filed by working with Canadian securities regulatory authorities. The manufacturer does not undertake any obligation toward update publicly or to revise any forward-looking statements contained in this manuscript, whether as a result of new information, forthcoming future events or otherwise, except as used by law.
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