ELECTROVAYA ANNOUNCES FIRST QUARTER FISCAL 2008 FINANCIAL RESULTS
Toronto, Ontario – February 14, 2008 – Electrovaya Inc. (TSX: EFL) today announced financial results for the first quarter of fiscal 2008. All figures are in US dollars.
Highlights
• Exhibited Zero Emission Vehicle Technology at the Cleantech Forum in Toronto
• Selected as battery system supplier for plug-in hybrid demonstrator vehicle led by Raser Technologies
• Announced version-3 Intelligent Battery Management System (“iBMS”) on display at EVS-23
• Announces new Scribbler® SC4000 series tablet PC
• Joined forces with Malcolm Bricklin’s Visionary Vehicles on Plug-In Hybrid Electric Vehicles
• Presented at Societe Generale 4th “Energies of the Future” conference
• Launched the Maya-300: a zero-emission, low-speed electric vehicle
• Collaborated with ExxonMobil Chemical on the launch of the Maya 300, including incorporating battery separator films from ExxonMobil into the Electrovaya battery system design
Financial Highlights
For the quarter ending December 31, 2007:
• Total revenue decreased by 1.4% to $495,000 from $502,000 during the quarter ended December 31, 2006.