Dr. Raj DasGupta reports

ELECTROVAYA ANNOUNCES RECEIPT OF UL FUNCTIONAL SAFETY APPROVAL FOR NEXT GENERATION BATTERY MANAGEMENT SYSTEM

Electrovaya Inc.'s latest generation of battery management system technology (BMS) has been approved by UL. The Gen V battery management system (BMS) has been successfully evaluated for conformity with both UL 991, which pertains to safety-related controls utilizing solid-state devices, and UL 1998, addressing software in programmable components.

The Gen V BMS boasts a robust design that has endured years of rigorous operational conditions without encountering any failures or safety incidents. The hardware and software are internally developed, tailored precisely to the specific application requirements. The new BMS platform also features remote capabilities for battery monitoring, along with advanced fleet/warehouse battery analytics facilitated by EVision, augmenting its utility and functionality in fleet and warehouse management contexts.

"Our latest BMS system is a key piece of technology for our new high-voltage battery system products that will be utilized in a wide variety of verticals," said Dr. Raj DasGupta, chief executive officer of Electrovaya. "The UL approvals required rigorous testing and review and provide a third party validation for an important part of our latest battery system design."

The company continues plans to exhibit its latest battery system products at MODEX 2024, March 11 to 14 in Atlanta, and at the Advanced Clean Technology Expo (ACT) on May 20t to 23 in Las Vegas.

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 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 labs 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 for its planned gigafactory.

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