Electrovaya Launches MN-Series Lithium Ion Superpolymer'R' Battery Technology

Up to 50% Higher Energy Density Than Phosphate With Comparable Safety Performance.

Published: 19-Jan-2007

TORONTO, ONTARIO -- Electrovaya Inc. (TSX: EFL) today announced the launch of its "MN-Series" Lithium Ion SuperPolymer® battery technology.

The MN-Series Lithium Ion SuperPolymer® technology will complement Electrovaya's existing roster of Phosphate-Series and (industry standard) Cobaltate-Series Lithium Ion SuperPolymer® technology solutions. The MN-Series, which is a Lithiated Manganese Oxide based system, distinguishes itself with up to 50% higher energy density and comparable safety characteristics to Electrovaya's Phosphate-Series solution.

Electrovaya's proprietary Lithium Ion SuperPolymer® technology is independent of the composition of the positive electrode active material. As such, ongoing advances in positive electrode chemistry, such as the MN-Series, are expected to enable better technical performance and safety characteristics at more economical price-points.

Dr. Sankar DasGupta, CEO of Electrovaya, notes that "our new MN-Series is an exciting addition to Electrovaya's existing solution base. It is particularly well suited to large-format battery system demands with its superior energy density, power and safety characteristics and we're pleased to offer it as part of our integrated power system solution offerings."

About Electrovaya:

Electrovaya (TSX: EFL) is a developer and manufacturer of portable power solutions with its proprietary Lithium Ion SuperPolymer® battery technology. Its goal is to become the preferred provider of tablet PCs, portable power for aerospace and wireless sectors, and the developer of alternative energy applications including UPS, stand-by power, plug-in hybrids and zero-emission vehicles. The Company's shares trade on the Toronto Stock Exchange under the symbol EFL.

For more information about Electrovaya and its products, please visit: www.electrovaya.com.

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