Nice to have you guys all back now - Though time, and only time will tell where we are headding but this changed a LOT!

Love this part - because I know that the EVONIK guys are no nonsense player...

The highlights of the Acquisition are:

• State-of-the-art modular facility built recently with hundreds of millions of dollars invested; tangible assets of over $100 million and a strong operating company
• A profitable ongoing contract to key customer with annual revenue of ~$30 million
• Revenue capacity of up to $250 million to $550 million for battery systems with 0.5 Gigawatt hour (GWh) nominal energy storage capacity
• Electrovaya's green non-toxic production process will remove the toxic NMP in the plant and allow up to 50% reduction in processing costs, about 80% reduction in energy costs while producing higher performing products, making the plant very competitive globally
• Acquiring experienced management team to manage operations and growth
• Total purchase price is a small fraction of the tangible asset value. Financing is planned through debt and grants

"Products from this captive plant will now be expanded to broader markets including utilities, energy storage of wind and solar, aerospace, micro-grids, marine and automotive industries while maintaining supply to its present customer. This large volume facility and its seasoned management team will drive key energy storage revenues globally.

Conventional lithium ion manufacturing plants use large quantities of toxic NMP (n-methyl-pyrrolidone), now suspected of causing birth defects and increasing operating costs, capital costs and future liabilities. Electrovaya's unique non-toxic manufacturing technology will enable this plant to become the lowest cost producer as well as the greenest large manufacturer on the planet. It is estimated that the processing costs of the plant will be reduced by over 50% and its energy costs by over 80%."

http://globenewswire.com/news-release/2014/11/17/683672/10108532/en/Electrovaya-Plans-Transformational-Acquisition.html

BTW: When again is the battery storage event from the automotive company located in CA?

Cheers!