Q4 & FY 2015 CONFERENCE CALL

The New Electrovaya:

Post-Transformational Acquisition =
Exceptional Products & Scale for
Global Energy Revolution

2nd December 2015

EFL (Toronto Stock Exchange - TSX)

Disclaimer
This presentation contains historical and forward-looking statements. The forward-looking statements involve risks and
uncertainties. Forward looking statements appearing in this presentation represent managements current estimates and
these may change significantly as new information comes to hand, including including statements that relate to, among
other things, revenue forecasts, technology development progress, plans for shipment using the Companys next generation
technology, production plans, the Companys markets, objectives, goals, strategies, intentions, beliefs, expectations and
estimates, using such words as may, will, could, should, would, likely, expect, intend, estimate, anticipate,
believe, plan, objective and continue (or the negative thereof) and words and expressions of similar import.
Certain material factors or assumptions are applied in making forward-looking statements, and actual results may differ
materially from those expressed or implied in such statements. Additional information about material factors that could cause
actual results to differ materially from expectations and about material factors or assumptions applied in making forwardlooking statements may be found in the Companys most recent annual and interim Managements Discussion and Analysis
under Risk and Uncertainties as well as in other public disclosure documents filed with Canadian securities regulatory
authorities. The information contained in this presentation has been obtained by Electrovaya Inc. from its own records and
from other sources believed to be reliable, however no representation or warranty is made as to its accuracy or
completeness .The Company does not undertake any obligation to update publicly or to revise any of the forward-looking
statements contained in this document, whether as a result of new information, future events or otherwise, except as
required by law.

Mission

Reduce Climate Change as

the Global Leader in
Advanced Lithium Ion Battery Solutions

Market Potential
Energy Storage is the Holy Grail for Electric Power &
Lithium Ion Battery is the Driver
Energy storage market is set to explode to an annual installation size of 6 Gigawatts (GW) in 2017
and over 40 GW by 2022 from an initial base of only 0.34 GW installed in 2012 and 2013.
64% of energy storage installations will come from lithium-ion batteries.
Market value: $114 billion by 2017
Market value: $400 billion by 2020

Annual savings of $50 billion yearly via energy storage.

The advanced battery market is expanding dramatically in the United States and
around the world -- from $5 billion in 2010 to nearly $50 billion in 2020
Targets $150-billion for their business in Clean Energy financing by 2020.
4

Why Lithium?
Expert
Industry
Analyst
Projections:

LITHIUM ION
will takeover
of all
energy storage
business.

64%
leaving the remaining
to all other technologies:

36%

pumped hydro,
hydrogen fuel cells,
lead acid,
sodium sulphur,
vanadium redox flow,
zinc bromine,

zinc air,
molten metal,
compressed air,
flywheels,
and others

Source: IHS Emerging Energy Research

Electron
Storage
Efficiency
Analysis:

Lithium Ion
*most efficient & lowest holistic cost

92-94%

Flow Batteries

~ 75%

Lead Acid

~ 60%

Mechanical Systems

~ 50%

Hydrogen Fuel Cells

~ 25%

Transformational Acquisition
Canadian & German Operations

State of the art manufacturing facility with 500MWh capacity since 2012.
Located in Kamenz, Germany, the facility runs with the highest levels of quality
(TS16949 and various ISO standards) with a leading team of experts; IP:
electrodes, nano C/Si and ceramic separators; ~350 patents

160,000 sq feet facility in Mississauga, Canada.

System integration and testing
(MWh scale energy storage),
NMP-free electrode; 150 patents

Electrovayas Strengths
Technology that enables Resilience to Market Challenges
& Fundamental Cost Advantage due to non-toxic innovations

conglomerates

public market
companies

private
companies

start-ups

Electrovayas proprietary non-NMP, non-toxic manufacturing process enables lower cost structure.

Acquisition: Litarions Contribution

Germanys Premier Expertise in Manufacturing, Scale & Technology

1.

Physical & Human Capital: 0.5 Giga Wh plant with Europes Leading Scientists & Process Engineers

2.

SEPARION Technology: Global Exclusive Rights to a Flexible Ceramic Separator includes

~300 Patents SEPARION Technology with highest safety and cycle life performance
8

Acquisition: Solves Industry Challenges

Combined Technology & Experience from Electrovaya and Evonik Degussa
Solves the Three Critical Challenges in Lithium Ion

- Cost: Electrovayas non toxic production process disrupts the present toxic chemical process (NMP) and
substantially lowers CapEx, OpEx (~55%), energy costs (~80%) and allows production in environmentally
regulated jurisdictions (US, Europe & Japan). Makes the billion dollar investments in NMP based plants,
obsolete.

- Safety: Electrovaya acquires Global exclusive rights to an unique ceramic imbedded separator, which

was earlier exclusively available to only Daimler. ~300 patents support and a 10 million square meter plant
in Germany; 20,000 Smart electric running with zero safety incidents

- Cycle Life: about double the industry standard; ~9000 cycles, 1C charge/discharge, 100% Depth of
discharge, graphite and NMC electrodes; critical parameter for Energy Storage systems

Other

- Environment: Allows Lithium Ion plants to operate easily in regulated jurisdictions like Europe, USA and
Japan

- Energy Density: Electrovayas non NMP process improves electrode microstructure and increases
energy density

Revenues Surge:
Q4, ending 30th Sept 2015: 1st Full Quarter with Combined Revenues
US $

12

10
8
6
4
2
0
Q1 2015

Q2 2015

Q3 2015

Q4 2015

10

Adjusted EBITDA: Positive in Q4

US $

2.0

1.5
1.0
0.5
0.0
-0.5

Q1 2015

Q2 2015

Q3 2015

Q4 2015

-1.0
-1.5
-2.0
-2.5

11

Cash Growing: Q4 2015

US $

7
6
5
4
3
2
1
0
Q1 2015

Q2 2015

Q3 2015

Q4 2015

12

Pipeline: Rapidly Growing, Largest Ever

Cell & Cell Materials

Battery Systems

Electrodes

SEPARION

Litacell LC-40

Utilities
E-mobility
Energy Storage
Residential Power
Back up Power
Telecom
Strategic Power
Micro-Grid

13

Product: Cell
World-Leading Performance & Safety
Officially launched Litacell LC-40 in Q4 2015

Litacell: The lithium-ion cell technology LITACELL provides

outstanding cycle life combined with unique safety features
serving as leading-edge solution for the most demanding
applications.

40
35

Capacity / Ah

30
25
20
15
10

Cycling (1C/1C)
Cycling (2C/2C)
Cycling (3C/3C)

5
0
0

2000

4000

6000

Cycle no.

8000

10000

Key Features:
Superior cycle life and extraordinary safety due to
LITARION electrodes and SEPARION ceramic
separator.
Design and components made in Germany, manufactured
according to ISO:9001 and ISO/TS 16949

Extraordinary Cycle Life Performance:

9000 cycles at 1C/1C (Ch/DCh), 3000 cycles at 3C/3C (Ch/DCh)
*Data obtained in 40 Ah cells at 100% DOD, Daimler measurements
14

Product: SEPARION

Previously exclusive use for Daimler products only

Outstanding safety: stable to temperatures up to 700C
Over 200+ patents
Disruptive technology acquired

Full ceramic material supported by PET non-woven:

Surface

Polymer
fibres

Ceramic
Particles

PET non-woven support Flexible ceramic separator

(SEM cross-section)

Ceramics
(Surface view)

Ceramic material is impregnated into the supporting non-woven.

15

Product: Non-Toxic Electrode Mfg License

No Toxic NMP solvent coater, dryer, air handling, distillation
ELIMINATED

ELIMINATED

ELIMINATED

Distillation System
NMP Solvent:
300 Foot Drier

Solvent Recovery Tower

Electrovayas Green Production:

No air emission
No use of toxic NMP chemicals
No future liabilities
16

Product: Battery Systems

Common building blocks (cells, battery modules, battery
management) are leveraged across multiple verticals.
MWh
Smart Grid
Cell Technology
+ Value Add Systems
Smart Cities, MicroGrids

Automotive
Industrials

Each sector could become multi-billion dollar markets.

17

Product: Battery Systems

HVAC
System

End Tap Enclosure

High Voltage Bus Way

High Voltage Lithium

Ion Battery Rack

(Low Voltage Power Supply & BMS

18

Notable Recent Deliveries

Toronto, Canada
Electrovaya's MWh energy storage system was recently delivered to Toronto Hydro for use in
their Smart Grid. This battery solution allows utilities and cities to use renewable energy (wind,
solar, etc) off-peak by storing it for on-demand peak use. Energy storage is key to solving the
energy needs for cities worldwide and is tagged as part of the Smart City, Smart Grid, Clean
Energy technology solutions needed to fight climate change.

19

Summary Value Proposition

Why Electrovaya should win the Energy Storage race
Cycle Life

Nearly double major competitors;

50% lower holistic cost; $/kWh

Safety

Highest in industry due to Flexible Ceramic Separator

Useable Energy

Higher than competitors

Calendar Life

Higher than competitors - important for energy storage

Capacity Increase Ease

Faster and at a lower cost

Non-Toxic Production Process

Green Production

Price

Lowest on price per cycle

Strong Technical Support

Locally in Europe and North America

Location & Capacity

Largest Lithium Ion plant in Europe

Sole producer in Canada

Branding

Daimler & Made in Germany

Made in Canada

Certifications

TS 16949 and other certifications

Global Production Capacity

0.5 Giga Watt Hour

20

Electrovayas Energy Storage Products

USA, Canada, China, Europe, UAE (best of class partners)

AUTOMOTIVE

ENERGY
STORAGE/
SMART CITY/
MICRO-GRID

INDUSTRIAL

SPECIALTY

21