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Message: RAJ, HAS BEEN DELIVERING ON HIS WORDS,

The schedule is to have Jamestown ready to provide cells, modules and batteries for when they receive the order for new hi voltage batteries for new customers.  If the customer development lags then the schedule lags.  If the economy drags and customers slow down their order then Jamestown schedule will be delayed.  Electrovaya will not bring on additional production until they have order in hand.

THE HISTORY. . .  When Electrovaya had a plant in Germany, they were to produce a batery pack for solar storage (Residential scale) for a company in England.  Electrovaya started producing modules in expectation of a PO any day now.  Then England exited the European Union (Brexit) and the order fell through.  Electrovaya was left with battery pack inventory they cpuld not sell and had to dispose of. (write off)  This in addition to no other customers led to the plant going bankrupt.  Very dark day for Electrovaya.  So now maybe you can understand why they will not bring on additional production until they have a firm order.

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