I'm guessing we'll find out soon whether this means a new partnership or a need for new capital.

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If it is the company I think they are talking to, That company just did an unexplained capital raise.  They were twice over subscribed.... Since Electrovaya has one of the best battery cells on the market, probably all they will have to do is supply the plans for a functional manufacturing process.  We can already see the engineers they have hired to accomplish that task...