Electrovaya enters the Japanese energy storage market

Toronto, November 2, 2009 – Electrovaya Inc. plans to enter the stationary power and smart grid energy storage market in Japan.

Nippon Kouatsu Electric Co. and Electrovaya have agreed on the development and sales of Electrovaya’s integrated advanced battery storage systems for both stationary power and smart grid systems applications, initially targeted for the Japanese market.

As more renewable energy generation technologies such as solar and wind are implemented, they add a greater amount of intermittent and variable load to the electric grid capacity.

This, coupled with standard demand challenges, has created wide daily price variations with overnight and “off-peak” electricity prices being significantly less expensive than in high demand periods.

In Japan, this electricity price differential is sufficiently large enough to create an excellent market for technology solutions that allow consumers to capture off-peak, low-price electricity and store it for peak demand periods.

Dr. Sankar DasGupta, CEO of Electrovaya adds, “The application of our Lithium Ion SuperPolymer battery technology and system solutions to the smart grid and stationary market in Japan is a very exciting development. These emerging markets are complementary and interconnected. The applications we will address with NKE perfectly complement the capabilities of Electrovaya’s electric vehicle division.”

“The emerging stationary, smart-grid and electric vehicle (battery and plug-in hybrid) markets require large battery systems that are high performance and cost-effective. This is where Electrovaya’s proprietary battery technology advantages are most evident and are a natural technology market fit,” added DasGupta.

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