Electrovaya Achieves Key Milestone with UL2580 (Batteries for Use in Electric Vehicles) Listing

Toronto, Ontario – November 19, 2020 – Electrovaya Inc. (“Electrovaya” or the “Company”) (TSX:EFL) (OTCQB:EFLVF) today announced that it has achieved UL2580 listing across its line of 24V and 36V forklift batteries. The safety certification covers more than 25 different models and is a key milestone for the Company. UL LLC (“Underwriters Laboratories” or “UL”) completed multiple system level tests on Electrovaya’s batteries, including fire propagation at both ambient and elevated temperatures, and other electrical and mechanical tests. Furthermore, UL completed full functional testing and provided UL991 and UL1998 certifications relating to Electrovaya’s fifth generation proprietary Battery Management System.
Some key elements of Electrovaya’s UL2580 listing include:
• More than 25 battery models ranging from 7kWh to 38kWh
• Highest charge/discharge rates for any UL2580 listing
• Highest capacity batteries for any UL2580 listing
• Fire propagation testing
• Electrovaya’s cells were previously certified under UL2580 as a component in 2019
“ We are pleased to see these results following over a year of working with the Electrovaya team on this listing. Given this included over 25 battery models, it was a complicated effort that required a lot of collaboration between Electrovaya and UL” said Holly Tribuzio, Project Engineer for Energy Systems & e-Mobility at Underwriters Laboratories.

“The lithium ion battery industry is going through a massive growth phase, and the importance of safety is a vital concern. This UL certification shows our continued commitment to safety and quality. We are very proud of our entire R&D and Engineering teams for achieving this listing, which also leverages some of the key safety technologies that Electrovaya owns, including critical cell and systems IP. We believe that these technologies will be critical for broad implementation of lithium ion battery technology,” said Dr. Raj Das Gupta, Vice President, Business Development & Technology at Electrovaya.
Electrovaya's batteries feature a ceramic composite separator and are believed to provide industry-leading cycle life, safety, energy and power.