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Electrovaya Inc T.ELVA

Alternate Symbol(s):  ELVA

Electrovaya Inc. is a Canada-based lithium-ion battery technology and manufacturing company. The Company designs, develops and manufactures lithium-ion batteries and battery systems for energy storage, clean electric transportation, heavy duty electric vehicles and other specialized applications based on its Infinity Battery Technology Platform. The Company is focused on contributing to the prevention of climate change by supplying safe and long-lasting lithium-ion batteries. The Company is also developing next generation solid state battery technology at its Labs division. The Company has two operating sites in Canada and has a 52-acre site with approximately 135,000 square foot manufacturing facility in New York state. Its battery products are used across various applications, including material handling, e-mobility and energy storage.


TSX:ELVA - Post by User

Bullboard Posts
Post by torlastmanon Jun 18, 2009 11:45am
408 Views
Post# 16081002

A liitle disappointed on the 17.6M grant

A liitle disappointed on the 17.6M grant
Quoted from other forum: "The CAD$16.7 M should be from this pot. If it is, the Next Generationof Jobs Fund is a 5 year program and on average, if Electrovaya meetsthe milestone, it will receive CAD$3.3 M a year. Also, the news releaseof the ministry of economic development clearly states that 20% offunding is provided upon signing. In this case, it is CAD$3.3 M thatElectrovaya reported in its news release."

And the link is here
https://www.ontariocanada.com/ontcan/page.do?page=6103

If this is true, the good news is that Electrovaya meets the selection criteria.

The 'bad' news is
1. This is just a 45 days' decision. Basically it is grant according to the procedure, not really because Electrovaya is outstanding.
2. It is granted because Electrovaya meets the criteria, not really because Electrovaya has a superb product which the government wants to support.
3. The government prepare 1.15b. So Electrovaya is just one of the supported companies. Maybe its competitor is also supported.

In a word, the money is granted because of the program for job creation, not because of Electrovaya's 'great' product.

In another word, if you have a company who can meet the selection criteria, you get the money. So it is a good news to have the grant, but shouldn't be so exciting for such a high peak.
Bullboard Posts