Electrovaya (ELVA) Announces Update to its Solid-State Battery Development

Development of a Lithium Ion Conducting Ceramic with leading performance;

Development of an improved separator membrane that utilizes the in-house ceramics;

Plan to start shipping prototypes to a major automaker this calendar year

Electrovaya Inc. (NASDAQ: ELVA) today announced an update on its solid-state battery program at its annual Battery Technology Day event.

Updates regarding Electrovaya's solid state battery program included the following:

Development of a scalable and cost-effective lithium ion conducting ceramic that has demonstrated good performance: ionic conductivity in the range of ~8.10^-4 S/cm; and work continues to further improve conductivity and scale up of production.

Development of a proprietary separator that uses Electrovaya's in-house ion conducting ceramic material. The separator incorporates a scalable manufacturing process and the Company has made progress in increasing the separator size to meet the needs of commercially viable cells.

Progress in the development of pouch cells with stable cycling performance.

Scaling Electrovaya's ion conducting ceramic separator to meet the needs of commercially viable cells.

"Since early 2023, our team at Electrovaya Labs has made significant progress in the development of our solid-state battery separator and ion conducting ceramic materials. These materials form the backbone of our solid-state battery design and based on the progress to date, we are optimistic on a commercially viable solid state battery product." said Dr. Raj DasGupta, CEO at Electrovaya. "We are in discussions with one major automaker and are planning to send prototype samples of pouch cells later this calendar year."

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