Mr. Jason Roy reports

ELECTROVAYA LAUNCHES INFINITY-HV BATTERY SYSTEMS FOR ELECTRIC BUS, TRUCK AND ENERGY STORAGE APPLICATIONS

Electrovaya Inc. has launched its Infinity-HV battery systems, an addition to its existing Infinity product line. The Infinity-HV systems target heavy-duty, high-voltage applications including buses, delivery trucks, construction trucks, hybrid-fuel cell/battery systems and stationary energy storage systems. Electrovaya's Infinity-HV systems will offer industry-leading safety and longevity for these applications, ultimately providing users with lower liability costs, better warranty coverage and an overall lower cost of ownership.

The new Infinity-HV systems come in two forms: HV-90 and HV-180. They offer a nominal energy of 35 kilowatt-hours and 70 kilowatt-hours, respectively, and will serve both 400-volt and 800-volt applications. The systems are modular and designed to be scaled for the respective requirements. The Infinity-HV batteries use lithium-ion ceramic and UL-recognized (Underwriter Laboratories) EV (electric vehicle) series cells and have a projected 25-year lifetime for one-cycle-per-day applications, making them the longest-lasting high-voltage batteries available. Safety is a top design criterion for Electrovaya, and, similar to other Infinity products, the Infinity-HV packs offer a high level of fire protection due to the company's proprietary multilevel cell and battery fire propagation prevention technology. Infinity-HV systems will be controlled by the company's in-house fifth-generation advanced battery management system (BMS), which is currently deployed in more than 4,000 Infinity products in the field.

The Infinity-HV packs will be assembled in house at both Electrovaya's Canadian and U.S. operations, with initial deliveries of preproduction units anticipated in the fourth quarter of 2023. Electrovaya has recently installed an AI-assisted (artificial intelligence) automated assembly line with advanced laser welding capabilities and cutting-edge quality control methods, which will help to accelerate product customizations to meet specific customer requirements. Mass production of the Infinity-HV products is planned at the company's facility in Jamestown, N.Y.

"We are excited to launch the Infinity-HV battery products and look forward to exploring the market opportunities. The Infinity-HV batteries offer unique performance characteristics, particularly with regards to safety and cycle life, and are the ideal energy storage technology for heavy duty applications," said Dr. Khadija Yazda, high-voltage system product manager at Electrovaya.

Electrovaya will be displaying the Infinity-HV products at the coming APTA Expo from Oct. 9 to Oct. 11, 2023, in Orlando, Fla.

About Electrovaya Inc.

Electrovaya is a pioneering leader in the global energy transformation, focused on contributing to the prevention of climate change by supplying safe and long-lasting lithium-ion batteries. The company has extensive IP (intellectual property) and designs, develops and manufactures proprietary lithium-ion batteries and battery systems for energy storage and heavy-duty electric vehicles based on its Infinity battery technology platform. This technology offers enhanced safety and industry-leading battery longevity. The company is also developing next-generation solid-state battery technology at its lab division. Headquartered in Ontario, Canada, Electrovaya has two operating sites in Canada and has acquired a 52-acre site with a 135,000-square-foot manufacturing facility in New York State for its planned gigafactory.

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