Electrovaya - Revision history

95.149.241.133 at 21:33, 19 August 2022

2022-08-19T21:33:55Z

109.180.50.163 at 17:29, 12 August 2022

2022-08-12T17:29:12Z

>Louis at 16:27, 22 July 2022

2022-07-22T16:27:40Z

← Older revision		Revision as of 17:27, 22 July 2022
Line 95:		Line 95:

	== References and notes ==		== References and notes ==
			<references />
			[[Category:Thesis]]
			[[Category:Equities]]

172.18.0.2 at 22:03, 15 July 2022

2022-07-15T22:03:20Z

>George at 16:33, 15 July 2022

2022-07-15T16:33:56Z

>George at 16:31, 15 July 2022

2022-07-15T16:31:30Z

Show changes

>George at 11:59, 14 July 2022

2022-07-14T11:59:06Z

← Older revision		Revision as of 12:59, 14 July 2022
Line 11:		Line 11:

	# Initial cost – On an average, The Lead-Acid batteries are nearly 3-4 times cheaper compared to Lithium-ion batteries. With such a low cost of procurement, you would think that a Lead Acid Battery should be the battery of choice for forklift right? Well, it depends on various factors, with operational load being a prime factor. There are many other factors apart from low initial cost to be considered for deciding which battery is right for you. Low purchase cost does not equate to low cost of ownership. To understand what other factors play a major role, read further.		# Initial cost – On an average, The Lead-Acid batteries are nearly 3-4 times cheaper compared to Lithium-ion batteries. With such a low cost of procurement, you would think that a Lead Acid Battery should be the battery of choice for forklift right? Well, it depends on various factors, with operational load being a prime factor. There are many other factors apart from low initial cost to be considered for deciding which battery is right for you. Low purchase cost does not equate to low cost of ownership. To understand what other factors play a major role, read further.
			#Manpower Cost: Lead Acid batteries have lower power density as compared to a lithium ion battery. A Li-ion battery packs much more power within the same space. Because of this, the lead-acid battery requires swapping batteries twice in a shift, leading to non-productive labour time of about 15 minutes per swap. For operations with multiple shifts, that equates to 75-90 minutes of unproductive labour per day.
	# Manpower Cost: Lead Acid batteries have lower power density as compared to a lithium ion battery. A Li-ion battery packs much more power within the same space. Because of this, the lead-acid battery requires swapping batteries twice in a shift, leading to non-productive labour time of about 15 minutes per swap. For operations with multiple shifts, that equates to 75-90 minutes of unproductive labour per day.		#Maintenance Cost: The Lead-acid batteries require high maintenance. Watering a battery can be tricky. Not only overwatering or underwatering a battery can result in deterioration in battery life, it also requires extensive use of Personal Protective Equipment (PPE) by the maintenance personnel to guard against harmful battery fumes. The labour cost toward maintenance and for procuring PPE are both added costs and it might not be much if you are running a small facility, but it significantly adds up when there are many material handling units in a facility.
			#Cost of Spare Battery: With a lead acid battery, you require to keep more batteries in stock to swap during the downtime, as lead-acid batteries cannot power the whole duration of the shift. In contrast, the Lithium-ion batteries store 4 times more energy than a Lead-Acid battery. While lead acid batteries can only achieve an energy density of 60-90 Wh/L, a lithium-ion battery can pack energy density in the range of 250-350 Wh/L. Typically, for every 3 lead acid batteries, you need 1 Lithium-ion battery.
	# Maintenance Cost: The Lead-acid batteries require high maintenance. Watering a battery can be tricky. Not only overwatering or underwatering a battery can result in deterioration in battery life, it also requires extensive use of Personal Protective Equipment (PPE) by the maintenance personnel to guard against harmful battery fumes. The labour cost toward maintenance and for procuring PPE are both added costs and it might not be much if you are running a small facility, but it significantly adds up when there are many material handling units in a facility.		#Storage space: With a Lead Acid Battery, you require dedicated space for storing the discharged batteries and carrying out routine maintenance. This is not required for a Lithium-ion battery as they can be charged easily and do not require dismounting. Hence the space saved can be used for other productive operations.
			#Cost of Utility: The lead acid batteries are less energy efficient and consume more electricity to charge to the same levels. Lead Acid Batteries consume 30-50% more power than Lithium Ion Batteries. On an average, 15% of the operating budget for a facility is spent on utility bills. A reduction in utility bill directly results in more profits. Further
	# Cost of Spare Battery: With a lead acid battery, you require to keep more batteries in stock to swap during the downtime, as lead-acid batteries cannot power the whole duration of the shift. In contrast, the Lithium-ion batteries store 4 times more energy than a Lead-Acid battery. While lead acid batteries can only achieve an energy density of 60-90 Wh/L, a lithium-ion battery can pack energy density in the range of 250-350 Wh/L. Typically, for every 3 lead acid batteries, you need 1 Lithium-ion battery.		#Cost of Replacement: Lead-acid batteries have a cycle life of only 1500-2500 cycles depending upon how it has been maintained. For a facility having single shifts and lesser requirements of forklifts on day-to-day basis, the lead-acid batteries can last for years. But for a multi-shift facility, it means that the batteries have to be replaced faster. This adds to the cost of replacement as well. On the other hand, Lithium-ion batteries have a phenomenal cycle life and last 4-5 times longer.
			#Performance Degradation: Forklift performance with Lead Acid batteries drops as the charge level goes down below 50%. Compare this with a Lithium Ion Battery, where the battery powers the vehicle uniformly irrespective of its state of charge. This has a great impact on productivity. Imagine being on a critical task just as your forklift begins to power down. The psychological aspect of that itself would make the operator not take any risk when the battery level goes below a threshold, and proceed to change the battery. It’s just a drain on precious time.
	# Storage space: With a Lead Acid Battery, you require dedicated space for storing the discharged batteries and carrying out routine maintenance. This is not required for a Lithium-ion battery as they can be charged easily and do not require dismounting. Hence the space saved can be used for other productive operations.		#Health and Safety: Since the Lead Acid batteries have to be changed twice per shift, it opens up the possibility of safety hazard during battery swapping. Further, the fumes from lead acid batteries pose health hazards for the personnel during maintenance, not to mention the fume build-up in closed spaces of a distribution center. On the other hand, Lithium-ion batteries are maintenance free and do not require to be swapped to keep the forklift working.
			#Longer Charging times: A Lead Acid Battery requires longer charge times of 8-9 hours to fully charge compared to a Lithium ion battery that can be fully charged in less than an hour. Further, Lithium-ion batteries can be opportunity charged i.e. they can be recharged during breaks throughout the day. It is as simple as plug and play.
	# Cost of Utility: The lead acid batteries are less energy efficient and consume more electricity to charge to the same levels. Lead Acid Batteries consume 30-50% more power than Lithium Ion Batteries. On an average, 15% of the operating budget for a facility is spent on utility bills. A reduction in utility bill directly results in more profits. Further

	# Cost of Replacement: Lead-acid batteries have a cycle life of only 1500-2500 cycles depending upon how it has been maintained. For a facility having single shifts and lesser requirements of forklifts on day-to-day basis, the lead-acid batteries can last for years. But for a multi-shift facility, it means that the batteries have to be replaced faster. This adds to the cost of replacement as well. On the other hand, Lithium-ion batteries have a phenomenal cycle life and last 4-5 times longer.

	# Performance Degradation: Forklift performance with Lead Acid batteries drops as the charge level goes down below 50%. Compare this with a Lithium Ion Battery, where the battery powers the vehicle uniformly irrespective of its state of charge. This has a great impact on productivity. Imagine being on a critical task just as your forklift begins to power down. The psychological aspect of that itself would make the operator not take any risk when the battery level goes below a threshold, and proceed to change the battery. It’s just a drain on precious time.

	# Health and Safety: Since the Lead Acid batteries have to be changed twice per shift, it opens up the possibility of safety hazard during battery swapping. Further, the fumes from lead acid batteries pose health hazards for the personnel during maintenance, not to mention the fume build-up in closed spaces of a distribution center. On the other hand, Lithium-ion batteries are maintenance free and do not require to be swapped to keep the forklift working.

	# Longer Charging times: A Lead Acid Battery requires longer charge times of 8-9 hours to fully charge compared to a Lithium ion battery that can be fully charged in less than an hour. Further, Lithium-ion batteries can be opportunity charged i.e. they can be recharged during breaks throughout the day. It is as simple as plug and play.

	So what applications are most suitable for Lithium-ion forklift batteries?		So what applications are most suitable for Lithium-ion forklift batteries?

>George at 11:58, 14 July 2022

2022-07-14T11:58:18Z

← Older revision		Revision as of 12:58, 14 July 2022
Line 1:		Line 1:
	[1]Li-ion or Lead-Acid Battery? Here’s what you need to know		[https://electrovaya.com/li-ion-or-lead-acid-battery-heres-what-you-need-to-know/]Li-ion or Lead-Acid Battery? Here’s what you need to know

	===== Li-ion or Lead-Acid Battery – Which one is better? If your back-end operations involve multiple shifts, switching to Lithium-ion battery makes a lot of sense.[edit \| edit source] =====		===== Li-ion or Lead-Acid Battery – Which one is better? If your back-end operations involve multiple shifts, switching to Lithium-ion battery makes a lot of sense.[edit \| edit source] =====

>George: Created page with "[1]Li-ion or Lead-Acid Battery? Here’s what you need to know ===== Li-ion or Lead-Acid Battery – Which one is better? If your back-end operations involve multiple shifts, switching to Lithium-ion battery makes a lot of sense.[edit | edit source] ===== If you are in a quandary whether to replace your Lead-Acid Forklift battery with a Lithium-Ion battery, you have come to the right place. For the uninitiated, there are two types of electric forklifts in the market tod..."

2022-07-14T11:50:32Z

Created page with "[1]Li-ion or Lead-Acid Battery? Here’s what you need to know ===== Li-ion or Lead-Acid Battery – Which one is better? If your back-end operations involve multiple shifts, switching to Lithium-ion battery makes a lot of sense.[edit | edit source] ===== If you are in a quandary whether to replace your Lead-Acid Forklift battery with a Lithium-Ion battery, you have come to the right place. For the uninitiated, there are two types of electric forklifts in the market tod..."

New page

[1]Li-ion or Lead-Acid Battery? Here’s what you need to know

===== Li-ion or Lead-Acid Battery – Which one is better? If your back-end operations involve multiple shifts, switching to Lithium-ion battery makes a lot of sense.[edit | edit source] =====
If you are in a quandary whether to replace your Lead-Acid Forklift battery with a Lithium-Ion battery, you have come to the right place. For the uninitiated, there are two types of electric forklifts in the market today. Those powered by Lead-Acid Batteries (also known as LAB) and those powered by Lithium Ion Batteries (also known as LIB).

Compared to a Lithium-ion battery, the Lead-Acid batteries are much cheaper and pose lower initial costs (low Capex) to the end user. However, the Lead-Acid batteries require a lot of maintenance and come with their own demerits as compared to Li-ion batteries which are maintenance free. Companies around the world have begun to realize the long term advantages of the Lithium-ion batteries.

So is a Lithium-ion battery really a game changer? Is it economical in the long run? What advantages do they have? There could be many such questions that could be lingering in your mind if you are a decision maker.

So, if you are thinking about switching over to Lithium batteries, but not sure if it is right for your business, we list out 10 factors of ownership to be considered w.r.t. lead-acid batteries and Lithium-ion batteries that would help you make the right decision.

# Initial cost – On an average, The Lead-Acid batteries are nearly 3-4 times cheaper compared to Lithium-ion batteries. With such a low cost of procurement, you would think that a Lead Acid Battery should be the battery of choice for forklift right? Well, it depends on various factors, with operational load being a prime factor. There are many other factors apart from low initial cost to be considered for deciding which battery is right for you. Low purchase cost does not equate to low cost of ownership. To understand what other factors play a major role, read further.

# Manpower Cost: Lead Acid batteries have lower power density as compared to a lithium ion battery. A Li-ion battery packs much more power within the same space. Because of this, the lead-acid battery requires swapping batteries twice in a shift, leading to non-productive labour time of about 15 minutes per swap. For operations with multiple shifts, that equates to 75-90 minutes of unproductive labour per day.

# Maintenance Cost: The Lead-acid batteries require high maintenance. Watering a battery can be tricky. Not only overwatering or underwatering a battery can result in deterioration in battery life, it also requires extensive use of Personal Protective Equipment (PPE) by the maintenance personnel to guard against harmful battery fumes. The labour cost toward maintenance and for procuring PPE are both added costs and it might not be much if you are running a small facility, but it significantly adds up when there are many material handling units in a facility.

# Cost of Spare Battery: With a lead acid battery, you require to keep more batteries in stock to swap during the downtime, as lead-acid batteries cannot power the whole duration of the shift. In contrast, the Lithium-ion batteries store 4 times more energy than a Lead-Acid battery. While lead acid batteries can only achieve an energy density of 60-90 Wh/L, a lithium-ion battery can pack energy density in the range of 250-350 Wh/L. Typically, for every 3 lead acid batteries, you need 1 Lithium-ion battery.

# Storage space: With a Lead Acid Battery, you require dedicated space for storing the discharged batteries and carrying out routine maintenance. This is not required for a Lithium-ion battery as they can be charged easily and do not require dismounting. Hence the space saved can be used for other productive operations.

# Cost of Utility: The lead acid batteries are less energy efficient and consume more electricity to charge to the same levels. Lead Acid Batteries consume 30-50% more power than Lithium Ion Batteries. On an average, 15% of the operating budget for a facility is spent on utility bills. A reduction in utility bill directly results in more profits. Further

# Cost of Replacement: Lead-acid batteries have a cycle life of only 1500-2500 cycles depending upon how it has been maintained. For a facility having single shifts and lesser requirements of forklifts on day-to-day basis, the lead-acid batteries can last for years. But for a multi-shift facility, it means that the batteries have to be replaced faster. This adds to the cost of replacement as well. On the other hand, Lithium-ion batteries have a phenomenal cycle life and last 4-5 times longer.

# Performance Degradation: Forklift performance with Lead Acid batteries drops as the charge level goes down below 50%. Compare this with a Lithium Ion Battery, where the battery powers the vehicle uniformly irrespective of its state of charge. This has a great impact on productivity. Imagine being on a critical task just as your forklift begins to power down. The psychological aspect of that itself would make the operator not take any risk when the battery level goes below a threshold, and proceed to change the battery. It’s just a drain on precious time.

# Health and Safety: Since the Lead Acid batteries have to be changed twice per shift, it opens up the possibility of safety hazard during battery swapping. Further, the fumes from lead acid batteries pose health hazards for the personnel during maintenance, not to mention the fume build-up in closed spaces of a distribution center. On the other hand, Lithium-ion batteries are maintenance free and do not require to be swapped to keep the forklift working.

# Longer Charging times: A Lead Acid Battery requires longer charge times of 8-9 hours to fully charge compared to a Lithium ion battery that can be fully charged in less than an hour. Further, Lithium-ion batteries can be opportunity charged i.e. they can be recharged during breaks throughout the day. It is as simple as plug and play.

So what applications are most suitable for Lithium-ion forklift batteries?

Today, if you run any facility that has multi-shift requirements – such as a cold storage facility or a large distribution center or any facility dealing with material handling, where operations continue 24X7, you need Lithium-ion batteries. Lithium-ion batteries would not only prove to be better return on investment in the long run, it would also make the operations more efficient.

Raymond – a leading material handling electric vehicle manufacturer has published a cost savings calculator (Check here). As per Raymond, a big facility would realize the return on investment on a Lithium-ion battery within months, and provide substantial savings in the long run.

Electrovaya’s Lithium-ion Ceramic battery solutions

A large number of our clients who are Fortune 100 companies have done the math and realized that having a Lithium-ion forklift battery reduces their operational cost, increases productivity and helps eliminate down time because of its ease of use.

You can find here some of the businesses that have benefited from our battery solutions. Electrovaya’s battery technology provides proven cost saving by providing industry leading cycle life, high safety and high reliability. Click here to find out more about how our solutions can make a difference to your business.

← Older revision		Revision as of 23:03, 15 July 2022
Line 6:		Line 6:
	# industrial and residential products for energy storage.		# industrial and residential products for energy storage.

	The Company has a battery and battery systems research and manufacturing facility in Mississauga, Ontario. In December 2019, Electrovaya moved its corporate head office to 6688 Kitimat Road in Mississauga, Ontario. The new location, which comprises approximately 62,000 square feet, is designed to enhance the Company’s productivity and efficiency. For further information, see “Liquidity and Capital Resources”.		The Company has a battery and battery systems research and manufacturing facility in Mississauga, Ontario.

	The Company researches in many areas of lithium ion batteries and has developed and patented a number of items in the lithium ion battery area. Electrovaya carries out engineering development at this facility, including assembly of complete battery systems. The Company has operating personnel at ~~our~~ headquarters in Canada and sales personnel in the USA.		The Company researches in many areas of lithium ion batteries and has developed and patented a number of items in the lithium ion battery area. Electrovaya carries out engineering development at this facility, including assembly of complete battery systems. The Company has operating personnel at its headquarters in Canada and sales personnel in the USA.

	Electrovaya has a team of mechanical, electrical, electronic, battery, electrochemical, materials and system engineers able to give clients a “complete solution” for their energy and power requirements. Electrovaya also has substantial intellectual property in the lithium ion battery sector.		Electrovaya has a team of mechanical, electrical, electronic, battery, electrochemical, materials and system engineers able to give clients a “complete solution” for their energy and power requirements. Electrovaya also has substantial intellectual property in the lithium ion battery sector.

	~~Management~~ believes that ~~our~~ battery and battery systems contain a unique combination of characteristics that enable us to offer battery ~~solutions~~ that are competitive with currently available advanced lithium ion and non-lithium ion battery technologies. These characteristics include:		The company believes that its battery and battery systems contain a unique combination of characteristics that enable it to offer battery offerings that are competitive with currently available advanced lithium ion and non-lithium ion battery technologies. These characteristics include:

	* Scalability and pouch cell geometry: Electrovaya believes that large-format pouched prismatic (flat) cells represent the best long-term battery technology for use in large electro-motive and energy storage systems.		* Scalability and pouch cell geometry: Electrovaya believes that large-format pouched prismatic (flat) cells represent the best long-term battery technology for use in large electro-motive and energy storage systems.
Line 21:		Line 21:

	== Strategy<ref name=":0" /> ==		== Strategy<ref name=":0" /> ==
	Electrovaya has developed a series of products which focus on maximising the cycle-life of the battery such that mission critical and intensive use applications would be interested in such long life batteries while giving appropriate energy and power. Electrovaya developed cells, modules, battery management systems, software and firmware necessary to deliver systems for discerning users. Electrovaya also developed supply chains which can produce needed components including separators, electrolytes with appropriate additives, cells and cell assembly, modules, electronic boards, electrical and mechanical components as needed for ~~our~~ battery systems. Supply chains allow flexibility in production as well as ability to manage scalable and fluctuating demands, especially for emerging new product introductions. The global trend in technology products is to use high quality supply chains to achieve scalable production and reduce or eliminate ownership of component suppliers. The battery systems that the company has developed are focused on mission critical applications, where the battery has to be used for long durations and could be charged and discharged several times a day. Electrovaya has moved away from owning component suppliers and making use of higher levels of contract manufacturing to produce its customised requirements.		Electrovaya has developed a series of products which focus on maximising the cycle-life of the battery such that mission critical and intensive use applications would be interested in such long life batteries while giving appropriate energy and power. Electrovaya developed cells, modules, battery management systems, software and firmware necessary to deliver systems for discerning users. Electrovaya also developed supply chains which can produce needed components including separators, electrolytes with appropriate additives, cells and cell assembly, modules, electronic boards, electrical and mechanical components as needed for its battery systems. Supply chains allow flexibility in production as well as ability to manage scalable and fluctuating demands, especially for emerging new product introductions. The global trend in technology products is to use high quality supply chains to achieve scalable production and reduce or eliminate ownership of component suppliers. The battery systems that the company has developed are focused on mission critical applications, where the battery has to be used for long durations and could be charged and discharged several times a day. Electrovaya has moved away from owning component suppliers and making use of higher levels of contract manufacturing to produce its customised requirements.

	~~Its~~ goal is to utilize ~~our~~ battery and systems technology to develop and commercialize mass production levels of battery systems for ~~our~~ targeted end markets.		The company’s goal is to utilize its battery and systems technology to develop and commercialize mass production levels of battery systems for its targeted end markets.

	To achieve these strategic objectives, the company intends to:		To achieve these strategic objectives, the company intends to:

	* Establish global strategic relationships in order to broaden the market potential of ~~our~~ products and services;		* Establish global strategic relationships in order to broaden the market potential of its products and services;
	* Develop and commercialize leading-edge technology for the stationary grid, zero-emission vehicle, as well as partnering with key large organizations to bring them to market;		* Develop and commercialize leading-edge technology for the stationary grid, zero-emission vehicle, as well as partnering with key large organizations to bring them to market;
	* Invest in research and development initiatives related to new technologies that reduce the costs of our products, but enhance the operating performance, of ~~our~~ current and future products; and,		* Invest in research and development initiatives related to new technologies that reduce the costs of our products, but enhance the operating performance, of its current and future products; and,
	* Focus on intensive use and mission critical applications such as the logistics and ecommerce industry, automated guided vehicles, electric buses, energy storage and similar other applications.		* Focus on intensive use and mission critical applications such as the logistics and ecommerce industry, automated guided vehicles, electric buses, energy storage and similar other applications.

Line 72:		Line 72:
	'''Business Highlights – Q4 FY2021:'''		'''Business Highlights – Q4 FY2021:'''

	On September 22, 2021, the Company launched EVISION, an internally developed and proprietary remote monitoring system. This new system is cloud-based and is able to track battery operational usage in Electrovaya-powered applications such as lift trucks or electric buses in real-time. The system monitors battery health, utilization, and charging to provide customers with optimized fleet and charging management. The EVISION system is now live and generating revenue.		On September 22, 2021, the Company launched EVISION, an internally developed and proprietary remote monitoring system. This new system is cloud-based and is able to track battery operational usage in Electrovaya-powered applications such as lift trucks or electric buses in real-time. The system monitors battery health, utilization, and charging to provide customers with optimized fleet and charging management. The EVISION system is now live and generating revenue.

	On September 23, 2021, the Company announced that its research division, Electrovaya Labs, produced promising initial test results using a proprietary approach for a solid-state (NMC cathode/lithium metal anode) battery. The initial results have demonstrated minimal capacity fade, and multiple tests have demonstrated the repeatability of the performance with coin cells at room temperature.		On September 23, 2021, the Company announced that its research division, Electrovaya Labs, produced promising initial test results using a proprietary approach for a solid-state (NMC cathode/lithium metal anode) battery. The initial results have demonstrated minimal capacity fade, and multiple tests have demonstrated the repeatability of the performance with coin cells at room temperature.

← Older revision		Revision as of 17:33, 15 July 2022
Line 1:		Line 1:
	== Operations<ref name=":0">Source: Electrovaya.</ref> ==		== Operations<ref name=":0">Source: Electrovaya.</ref> ==
	Electrovaya Inc. designs, develops and manufactures directly or through out-sourced manufacturing lithium ion batteries for Material Handling Electric Vehicles (“MHEV”) and other electric transportation applications, as well for electric stationary storage and other battery markets. ~~Our~~ main businesses include:		Electrovaya Inc. designs, develops and manufactures directly or through out-sourced manufacturing lithium ion batteries for Material Handling Electric Vehicles (“MHEV”) and other electric transportation applications, as well for electric stationary storage and other battery markets. Its main businesses include:

	# lithium ion battery systems to power MHEV including fork-lifts as well as accessories such as battery chargers to charge the batteries;		# lithium ion battery systems to power MHEV including fork-lifts as well as accessories such as battery chargers to charge the batteries;
Line 14:		Line 14:
	Management believes that our battery and battery systems contain a unique combination of characteristics that enable us to offer battery solutions that are competitive with currently available advanced lithium ion and non-lithium ion battery technologies. These characteristics include:		Management believes that our battery and battery systems contain a unique combination of characteristics that enable us to offer battery solutions that are competitive with currently available advanced lithium ion and non-lithium ion battery technologies. These characteristics include:

	* Scalability and pouch cell geometry: ~~We believe~~ that large-format pouched prismatic (flat) cells represent the best long-term battery technology for use in large electro-motive and energy storage systems.		* Scalability and pouch cell geometry: Electrovaya believes that large-format pouched prismatic (flat) cells represent the best long-term battery technology for use in large electro-motive and energy storage systems.
	* Safety: ~~We believe~~ our batteries provide a high level of safety in a lithium ion battery. Safety in lithium ion batteries is becoming an important performance factor and Original Equipment Manufacturers (“OEMs”) and users of lithium ion batteries prefer to have the highest level of safety possible in lithium ion batteries.		* Safety: Electrovaya believes our batteries provide a high level of safety in a lithium ion battery. Safety in lithium ion batteries is becoming an important performance factor and Original Equipment Manufacturers (“OEMs”) and users of lithium ion batteries prefer to have the highest level of safety possible in lithium ion batteries.
	* Cycle-life: ~~Our~~ cells are in the forefront of battery manufacturers with respect to cyclelife, with excellent rate capabilities. Cycle-life is generally controlled by the parasitic reactions inside the cell and these reactions have to be reduced in order to deliver industry leading cycle-life. Higher cycle-life is of importance in many intensive applications of lithium ion batteries.		* Cycle-life: Its cells are in the forefront of battery manufacturers with respect to cyclelife, with excellent rate capabilities. Cycle-life is generally controlled by the parasitic reactions inside the cell and these reactions have to be reduced in order to deliver industry leading cycle-life. Higher cycle-life is of importance in many intensive applications of lithium ion batteries.
	* Energy and Power: ~~Our~~ batteries give industry leading combination of energy and power and can be application specific.		* Energy and Power: Its batteries give industry leading combination of energy and power and can be application specific.
	* Battery Management System: ~~Our~~ Battery Management System (“BMS”) has developed over the years, and provides excellent control and monitoring of the battery with advanced features as well as communication to many chargers, electric vehicles and other devices.		* Battery Management System: Its Battery Management System (“BMS”) has developed over the years, and provides excellent control and monitoring of the battery with advanced features as well as communication to many chargers, electric vehicles and other devices.

	== Strategy<ref name=":0" /> ==		== Strategy<ref name=":0" /> ==
	~~We have~~ developed a series of products which focus on maximising the cycle-life of the battery such that mission critical and intensive use applications would be interested in such long life batteries while giving appropriate energy and power. We developed cells, modules, battery management systems, software and firmware necessary to deliver systems for discerning users. We also developed supply chains which can produce needed components including separators, electrolytes with appropriate additives, cells and cell assembly, modules, electronic boards, electrical and mechanical components as needed for our battery systems. Supply chains allow flexibility in production as well as ability to manage scalable and fluctuating demands, especially for emerging new product introductions. The global trend in technology products is to use high quality supply chains to achieve scalable production and reduce or eliminate ownership of component suppliers. The battery systems ~~we have~~ developed are focused on mission critical applications, where the battery has to be used for long durations and could be charged and discharged several times a day. Electrovaya has moved away from owning component suppliers and making use of higher levels of contract manufacturing to produce its customised requirements.		Electrovaya has developed a series of products which focus on maximising the cycle-life of the battery such that mission critical and intensive use applications would be interested in such long life batteries while giving appropriate energy and power. Electrovaya developed cells, modules, battery management systems, software and firmware necessary to deliver systems for discerning users. Electrovaya also developed supply chains which can produce needed components including separators, electrolytes with appropriate additives, cells and cell assembly, modules, electronic boards, electrical and mechanical components as needed for our battery systems. Supply chains allow flexibility in production as well as ability to manage scalable and fluctuating demands, especially for emerging new product introductions. The global trend in technology products is to use high quality supply chains to achieve scalable production and reduce or eliminate ownership of component suppliers. The battery systems that the company has developed are focused on mission critical applications, where the battery has to be used for long durations and could be charged and discharged several times a day. Electrovaya has moved away from owning component suppliers and making use of higher levels of contract manufacturing to produce its customised requirements.

	~~Our~~ goal is to utilize our battery and systems technology to develop and commercialize ~~massproduction~~ levels of battery systems for our targeted end markets.		Its goal is to utilize our battery and systems technology to develop and commercialize mass production levels of battery systems for our targeted end markets.

	To achieve these strategic objectives, ~~we intend~~ to:		To achieve these strategic objectives, the company intends to:

	* Establish global strategic relationships in order to broaden the market potential of our products and services;		* Establish global strategic relationships in order to broaden the market potential of our products and services;
	* Develop and commercialize leading-edge technology for the stationary grid, ~~zeroemission~~ vehicle, as well as partnering with key large organizations to bring them to market;		* Develop and commercialize leading-edge technology for the stationary grid, zero-emission vehicle, as well as partnering with key large organizations to bring them to market;
	* Invest in research and development initiatives related to new technologies that reduce the costs of our products, but enhance the operating performance, of our current and future products; and,		* Invest in research and development initiatives related to new technologies that reduce the costs of our products, but enhance the operating performance, of our current and future products; and,
	* Focus on intensive use and mission critical applications such as the logistics and ecommerce industry, automated guided vehicles, electric buses, energy storage and similar other applications.		* Focus on intensive use and mission critical applications such as the logistics and ecommerce industry, automated guided vehicles, electric buses, energy storage and similar other applications.