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Electrovaya Receives US$11 Million Battery Order for Materials Handling Electric Vehicles from a Single End User
Thursday, July 7, 2022 8:00 AM
Topic:
Company Update
Single largest order for MHEV batteries in the Company's history
Received MHEV battery orders totaling more than US$40 million to date in the 2022 calendar year
TORONTO, ON / ACCESSWIRE / July 7, 2022 / Electrovaya Inc. (TSX:EFL) (OTCQB:EFLVF), a leading lithium-ion battery technology and manufacturing company, today announced the receipt of a battery purchase order through its OEM sales channel valued at approximately US$11 million. The batteries will be used by a leading Fortune 100 company to power Materials Handling Electric Vehicles ("MHEVs") in four existing distribution centers in the United States. The majority of deliveries under the order will be completed in the Company's fiscal fourth quarter ending September 30, 2022. It is the single largest purchase order for MHEV batteries in Electrovaya's history.
Electrovaya, Inc., Thursday, July 7, 2022, Press release picture
This same Fortune 100 company made two purchase orders earlier in the 2022 calendar year that were previously announced by the Company. Accordingly, the aggregate value of orders made by this customer now exceeds US$16 million this year. It has ordered more Electrovaya MHEV batteries than any other end user.
Since January 1, 2022, Electrovaya has received more than US$40 million in firm assigned MHEV battery orders, not including blanket purchase orders.
"We are delighted to announce our largest single MHEV battery order to date. Our run rate for new orders is increasingly strong," said Dr. Raj DasGupta, CEO of Electrovaya. "Electrovaya's MHEV batteries, based on our proprietary Infinity battery technology, offer superior safety and cycle life and thus provide sophisticated commercial customers with the lowest overall cost of ownership."
"Our strong inventory levels position Electrovaya to make timely deliveries tied to these growing order volumes," added John Gibson, CFO of Electrovaya.
For more information, please contact:
Investor & Media Contact:
Jason Roy
Email: jroy@electrovaya.com
Tel: 905-855-4618
Web: www.electrovaya.com
About Electrovaya Inc.
Electrovaya Inc. (TSX:EFL) (OTCQB:EFLVF) is a pioneering leader in the global energy transformation, focused on contributing to the prevention of climate change by supplying safe and long-lasting lithium-ion batteries without compromising energy and power.. Electrovaya is a technology-focused company with extensive IP, designs, develops, and manufactures proprietary lithium-ion batteries, battery systems, and battery-related products for energy storage, clean electric transportation, and other specialized applications. To learn more about how Electrovaya is powering mobility and energy storage, please explore www.electrovaya.com.
Forward-Looking Statements
This press release contains forward-looking statements relating to the deployment of the Company's products by the Company's customers and the timing for delivery thereof, and can generally be identified by the use of words such as "may", "will", "could", "should", "would", "likely", "possible", "expect", "intend", "estimate", "anticipate", "believe", "plan", "objective" and "continue" (or the negative thereof) and words and expressions of similar import. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. Certain material factors and assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements. Statements with respect to the purchase and deployment of the Company's products by the Company's customers and users, and the timing for delivery thereof, and levels of expected sales and expected further purchases and demand growth are based on an assumption that the Company's customers and users will deploy its products in accordance with communicated intentions, that the Company will be able to deliver the ordered products on a basis consistent with past deliveries, and the anticipation of the Company delivering batteries in Q3 and Q4 FY2022 on the present purchase order are all based on assumptions by the company and its end users. Important factors that could cause actual results to differ materially from expectations include but are not limited to macroeconomic effects on the Company and its business and on the Company's customers, economic conditions generally and their effect on consumer demand, labour shortages, supply chain constraints, the potential effect of COVID restrictions in Canada and internationally on the Company's ability to produce and deliver products, and on its customers' and end users' demand for and use of products, which effects are not predictable and may be affected by additional regional outbreaks and variants, and other factors which may cause disruptions in the Company's supply chain and Company's capability to deliver the products. Additional information about material factors that could cause actual results to differ materially from expectations and about material factors or assumptions applied in making forward-looking statements may be found in the Company's Annual Information Form for the year ended September 30, 2021 under "Risk Factors", and in the Company's most recent annual Management's Discussion and Analysis under "Qualitative And Quantitative Disclosures about Risk and Uncertainties" as well as in other public disclosure documents filed with Canadian securities regulatory authorities. 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.
SOURCE: Electrovaya, Inc.
$EFLVF is starting to reverse to an upwards move, might be time to look into this one again
Electrovaya Awarded New US Patent for Lithium Ion Electrode
8:02 AM ET 6/30/22 | Dow Jones
New Patent for Microstructure Characteristics of Non-NMP produced lithium ion electrode that enables higher energy density lithium ion batteries
TORONTO, ON / ACCESSWIRE / June 30, 2022 / Electrovaya Inc. (TSX:EFL)(OTCQB:EFLVF), a leading lithium-ion battery technology and manufacturing company, today announced the receipt of a US patent for a unique battery electrode microstructure with superior distribution of active and non-active materials. The US Patent number is US11,355,744B2 and is titled Lithium Ion Battery Electrode with Uniformly Dispersed Electrode, Binder and Conductive Additive.
"This patent covers some unique attributes of battery electrodes made through Electrovaya's proprietary NMP-free technology. This potentially allows for thicker electrodes to be produced with higher performance and energy density." said Dr. Raj DasGupta, CEO of Electrovaya. "This technology could be especially impactful when paired with very high energy density anode materials like lithium metal or silicon based materials for next generation lithium ion batteries. In these cases, the ability to produce cathodes that match next generation anode materials in capacity is limited with the current state of the art technologies. Finally, the Electrovaya technology allows for electrodes to be produced without the use of toxic NMP solvents, thereby providing an environmentally friendly manufacturing process." continued Dr. DasGupta.
Electrovaya continues to spend significant effort on its research and development activities for next generation lithium ion batteries at its dedicated Electrovaya Labs division site and establishing new intellectual property is one of the company's key priorities.
"Innovations such as these, which Electrovaya is pioneering, are part of the Company's contribution to the much-needed global energy transition to address climate challenges." said Dr. DasGupta.
For more information, please contact:
Investor & Media Contact:
Jason Roy; jroy@electrovaya.com
Tel: 905-855-4618
Web: www.electrovaya.com
About Electrovaya Inc.
Electrovaya Inc.(TSX:EFL) (OTCQB:EFLVF) is a pioneering leader in the global energy transformation, focused on contributing to the prevention of climate change by supplying safe and long-lasting lithium-ion batteries without compromising energy and power. Electrovaya is a technology-focused company with extensive IP, designs, develops, and manufactures proprietary lithium-ion batteries, battery systems, and battery-related products for energy storage, clean electric transportation, and other specialized applications. To learn more about how Electrovaya is powering mobility and energy storage, please explore www.electrovaya.com.
Forward-Looking Statements
This press release contains forward-looking statements relating to the ability of the Company's battery electrode microstructure technology to allow for thicker electrodes to be produced with higher performance and energy density and the effect of their manufacture on the environment, and the deployment of the Company's products by the Company's customers f, and can generally be identified by the use of words such as "may", "will", "could", "should", "would", "likely", "potentially," "possible", "expect", "intend", "estimate", "anticipate", "believe", "plan", "objective" and "continue" (or the negative thereof) and words and expressions of similar import. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. Certain material factors and assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements. There is no guarantee for improved performance or energy density from the Company's newly patented electrode microstructure technology and there are elements of risk associated with the implementation of new technology in lithium ion batteries. The Company's Solid State batteries are not being sold commercially and should be considered as a research product. The coating technology described has not been proven at scale and may not be feasible for mass production. Important factors that could cause actual results to differ materially from expectations include but are not limited to behaviour of research-level product at commercial scale and the feasibility of commercial production, macroeconomic effects on the Company and its business and on the Company's customers, economic conditions generally and their effect on consumer demand, labour shortages, supply chain constraints, the potential effect of COVID restrictions in Canada and internationally on the Company's ability to produce and deliver products, and on its customers' and end users' demand for and use of products, which effects are not predictable and may be affected by additional regional outbreaks and variants, and other factors which may cause disruptions in the Company's supply chain and Company's capability to deliver the products. Additional information about material factors that could cause actual results to differ materially from expectations and about material factors or assumptions applied in making forward-looking statements may be found in the Company's Annual Information Form for the year ended September 30, 2021 under "Risk Factors", and in the Company's most recent annual Management's Discussion and Analysis under "Qualitative And Quantitative Disclosures about Risk and Uncertainties" as well as in other public disclosure documents filed with Canadian securities regulatory authorities. 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.
SOURCE: Electrovaya, Inc.
View source version on accesswire.com:
https://www.accesswire.com/707145/Electrovaya-Awarded-New-US-Patent-for-Lithium-Ion-Electrode
Sounds like an opportunity to get more eyeballs on the company, that we need!
GLTA!!!
https://batterysystemsexpo.com/
All we need is one! With great products and a great management team, it will happen.
Directors are getting their stock options issued, looks like change is starting to happen within the board and management, setting up for the next phase of their business! We need to see a positive turnaround in the stock price, I think it is coming soon!!!
https://ceo.ca/efl
GLTA!!!
A newly updated website was done for Electrovaya.
https://electrovaya.com/
BWMG is a hidden gem waiting to be discovered.
EcoMike, that's a great article with graphics on the potential of the dive market, next problem is how to reach the masses with the options they have available to them. Once $BWMG figures this out it will be golden, I think they are on their way with their new acquisitions.
It would be nice if they could get their products in stores like Dick's Sporting Goods or Target. This is a great product with a lot of potential too!
EcoMike, that's a great article with graphics on the potential of the dive market, next problem is how to reach the masses with the options they have available to them. Once BWMG figures this out it will be golden, I think they are on their way with their new acquisitions.
It would be nice if they could get their products in stores like Dick's Sporting Goods or Target. This is a great product with a lot of potential too!
Raj Gupta, new CEO of $EFLVF interview with Braun Capital
My God! you are in a great position. I wish I had a position like that at a time like this. They are on the brink of getting discovered with a price target of $3.25! As more technical analysts are looking into company with favorable reports, it is just a matter of time before this takes off. New CEO who wants to prove he is ready for this job, everything is in the shareholders' favor. Just going to take a little more patience.
GLTA!!!
BTW if anyone has any questions for the CEO reply to this guy on Twitter
Braun Capital
@braun_capital
We believe that electric motors will replace combustion motors. The key component in this transition will be the electric battery. As a result, we have worked to have a chat interview with the CEO of
@Electrovaya
$EFLVF. Comment below any questions you would like us to ask!
CWB, These are just my opinions:
I like the fact that younger blood is taking over the reins here.
They are in a close relationship with a major player in their business, this relationship can be very beneficial to them or not.
That also means that they have very close eyes on that new SSB that they are working on. If they get that right I am sure that a major player would buy them out.
If I were the perfect trader I would have sold this at $2.00 and brought it back at this new 52-week low. So I am not perfect, I hope that I am doing the right thing by adding at this new low.
Things are starting to look very positive for this company despite the setbacks with covid and supply chain demands. Now with gas prices going sky high EV is really looking good as compared with ICE!
Another selling point for EV batteries!
Maybe new management will even go after that NASDAQ listing if he really wants to improve SP. I lot of folks won't buy OTC.
This is only my opinion, not a recommendation to buy, do your own research.
GLTA!!!
New corporate presentation as of May 24 on their website!
https://electrovaya.com/wp-content/uploads/2022/05/ElectrovayaCorporatePresentation_05242022.pdf
EFLVF ~ New CEO!
TORONTO, ON / ACCESSWIRE / May 24, 2022 / Electrovaya Inc. (TSX:EFL)(OTCQB:
EFLVF), a lithium-ion battery manufacturer with differentiated intellectual property that allows heightened safety and improved longevity, is pleased to announce the appointment of Dr. Raj Das Gupta as Chief Executive Officer, and a member of the Company's Board of Directors.
electrovaya
Dr. Das Gupta has been a member of Electrovaya's management team since 2009. He has been instrumental in developing the Company's most critical technology and business relationships, including the development of its current forklift battery systems and OEM partnerships.
Dr. Das Gupta received his Doctorate in Materials Engineering from Cambridge University, where his research focused on lithium-ion batteries and he developed a unique patented tin composite anode encased inside a carbon nanotube. Previously, he attended Imperial College in London and the Massachusetts Institute of Technology (MIT).
Dr. Sankar Das Gupta, Electrovaya's co-founder, Chairman and previous CEO, takes up the role of Executive Chairman.
"I am delighted to announce the appointment of Raj as CEO," Sankar Das Gupta noted. "Since joining Electrovaya, he has been an indispensable member of the team. Raj is the ideal person to build shareholder value from our superior lithium-ion battery technology."
Commenting on his appointment, Raj Das Gupta said: "I am honored to have been asked to lead Electrovaya at this pivotal time. I look forward to accelerating the development of our renewables business and taking advantage of the wealth of opportunities presented by the energy transition. We have excellent products, and a strong team, combined with a track record of technology breakthroughs, innovation, and entrepreneurship. I look forward to working with our partners in continuing to deliver the critical low carbon solutions to the climate."
About Electrovaya Inc.
Electrovaya Inc. (TSX:EFL) (OTCQB:EFLVF) is a pioneering leader in the global energy transformation, focused on contributing to the prevention of climate change by supplying the safest and longest-lasting lithium-ion batteries. Electrovaya, a technology-focused company with extensive IP, designs, develops and manufactures proprietary lithium-ion batteries, battery systems, and battery-related products for energy storage, clean electric transportation, and other specialized applications. To learn more about how Electrovaya is powering mobility and energy storage, please explore www.electrovaya.com.
For more information, please contact:
Investor and Media Contact:
Jason Roy
Director, Investor Relations & Communication
Electrovaya Inc. / 905-855-4618 / jroy@electrovaya.com / www.electrovaya.com
SOURCE: Electrovaya, Inc.
View source version on accesswire.com:
https://www.accesswire.com/702449/Dr-Raj-Das-Gupta-Appointed-CEO-of-Electrovaya
$EFLVF ~ New CEO!!!
TORONTO, ON / ACCESSWIRE / May 24, 2022 / Electrovaya Inc. (TSX:EFL)(OTCQB:
EFLVF), a lithium-ion battery manufacturer with differentiated intellectual property that allows heightened safety and improved longevity, is pleased to announce the appointment of Dr. Raj Das Gupta as Chief Executive Officer, and a member of the Company's Board of Directors.
electrovaya
Dr. Das Gupta has been a member of Electrovaya's management team since 2009. He has been instrumental in developing the Company's most critical technology and business relationships, including the development of its current forklift battery systems and OEM partnerships.
Dr. Das Gupta received his Doctorate in Materials Engineering from Cambridge University, where his research focused on lithium-ion batteries and he developed a unique patented tin composite anode encased inside a carbon nanotube. Previously, he attended Imperial College in London and the Massachusetts Institute of Technology (MIT).
Dr. Sankar Das Gupta, Electrovaya's co-founder, Chairman and previous CEO, takes up the role of Executive Chairman.
"I am delighted to announce the appointment of Raj as CEO," Sankar Das Gupta noted. "Since joining Electrovaya, he has been an indispensable member of the team. Raj is the ideal person to build shareholder value from our superior lithium-ion battery technology."
Commenting on his appointment, Raj Das Gupta said: "I am honored to have been asked to lead Electrovaya at this pivotal time. I look forward to accelerating the development of our renewables business and taking advantage of the wealth of opportunities presented by the energy transition. We have excellent products, and a strong team, combined with a track record of technology breakthroughs, innovation, and entrepreneurship. I look forward to working with our partners in continuing to deliver the critical low carbon solutions to the climate."
About Electrovaya Inc.
Electrovaya Inc. (TSX:EFL) (OTCQB:EFLVF) is a pioneering leader in the global energy transformation, focused on contributing to the prevention of climate change by supplying the safest and longest-lasting lithium-ion batteries. Electrovaya, a technology-focused company with extensive IP, designs, develops and manufactures proprietary lithium-ion batteries, battery systems, and battery-related products for energy storage, clean electric transportation, and other specialized applications. To learn more about how Electrovaya is powering mobility and energy storage, please explore www.electrovaya.com.
For more information, please contact:
Investor and Media Contact:
Jason Roy
Director, Investor Relations & Communication
Electrovaya Inc. / 905-855-4618 / jroy@electrovaya.com / www.electrovaya.com
SOURCE: Electrovaya, Inc.
View source version on accesswire.com:
https://www.accesswire.com/702449/Dr-Raj-Das-Gupta-Appointed-CEO-of-Electrovaya
New CEO!
TORONTO, ON / ACCESSWIRE / May 24, 2022 / Electrovaya Inc. (TSX:EFL)(OTCQB:
EFLVF), a lithium-ion battery manufacturer with differentiated intellectual property that allows heightened safety and improved longevity, is pleased to announce the appointment of Dr. Raj Das Gupta as Chief Executive Officer, and a member of the Company's Board of Directors.
electrovaya
Dr. Das Gupta has been a member of Electrovaya's management team since 2009. He has been instrumental in developing the Company's most critical technology and business relationships, including the development of its current forklift battery systems and OEM partnerships.
Dr. Das Gupta received his Doctorate in Materials Engineering from Cambridge University, where his research focused on lithium-ion batteries and he developed a unique patented tin composite anode encased inside a carbon nanotube. Previously, he attended Imperial College in London and the Massachusetts Institute of Technology (MIT).
Dr. Sankar Das Gupta, Electrovaya's co-founder, Chairman and previous CEO, takes up the role of Executive Chairman.
"I am delighted to announce the appointment of Raj as CEO," Sankar Das Gupta noted. "Since joining Electrovaya, he has been an indispensable member of the team. Raj is the ideal person to build shareholder value from our superior lithium-ion battery technology."
Commenting on his appointment, Raj Das Gupta said: "I am honored to have been asked to lead Electrovaya at this pivotal time. I look forward to accelerating the development of our renewables business and taking advantage of the wealth of opportunities presented by the energy transition. We have excellent products, and a strong team, combined with a track record of technology breakthroughs, innovation, and entrepreneurship. I look forward to working with our partners in continuing to deliver the critical low carbon solutions to the climate."
About Electrovaya Inc.
Electrovaya Inc. (TSX:EFL) (OTCQB:EFLVF) is a pioneering leader in the global energy transformation, focused on contributing to the prevention of climate change by supplying the safest and longest-lasting lithium-ion batteries. Electrovaya, a technology-focused company with extensive IP, designs, develops and manufactures proprietary lithium-ion batteries, battery systems, and battery-related products for energy storage, clean electric transportation, and other specialized applications. To learn more about how Electrovaya is powering mobility and energy storage, please explore www.electrovaya.com.
For more information, please contact:
Investor and Media Contact:
Jason Roy
Director, Investor Relations & Communication
Electrovaya Inc. / 905-855-4618 / jroy@electrovaya.com / www.electrovaya.com
SOURCE: Electrovaya, Inc.
View source version on accesswire.com:
https://www.accesswire.com/702449/Dr-Raj-Das-Gupta-Appointed-CEO-of-Electrovaya
https://ceo.ca/@accesswire/dr-raj-das-gupta-appointed-ceo-of-electrovaya
EFLVF
Great to see this type of news when this stock is at a new 52-week low, usually these guys give a stock a buy rating when the stock is on its high. Nice to see a price target of $3.25!
https://www.tipranks.com/news/blurbs/electrovaya-eflvf-receives-a-new-rating-from-a-top-analyst?utm_source=stck.pro&utm_medium=referral
$ELFVF Great to see this type of news when this stock is at a new 52-week low, usually these guys give a stock a buy rating when the stock is on its high. Nice to see a price target of $3.25!
Let's get this going $EFLVF!
GLTA!!!
https://www.tipranks.com/news/blurbs/electrovaya-eflvf-receives-a-new-rating-from-a-top-analyst?utm_source=stck.pro&utm_medium=referral
Great to see this type of news when this stock is at a new 52-week low, usually these guys give a stock a buy rating when the stock is on its high. Nice to see a price target of $3.25!
Let's get this going $EFLVF!
GLTA!!!
https://www.tipranks.com/news/blurbs/electrovaya-eflvf-receives-a-new-rating-from-a-top-analyst?utm_source=stck.pro&utm_medium=referral
It does seem like they have a plan here on taking their business worldwide let's hope that they do execute it well. I do have faith in management here. We should see financials soon they are overdue. Investing in small start-ups could be very rewarding. looking for the next 10Q any day now.
Let's go BWMG!!!
GLTA!!!
Electrovaya: Risks Abound But This Is An Opportunity Worth Taking
May 16, 2022 11:56 AM ET Electrovaya Inc. (EFLVF)
https://seekingalpha.com/article/4512039-electrovaya-risks-abound-but-opportunity?mailingid=27732081&messageid=2800&serial=27732081.370&utm_campaign=rta-stock-article&utm_medium=email&utm_source=seeking_alpha&utm_term=27732081.370
I think the party is just getting started,batteryguy.
Electrovaya Inc. (TSX: EFL) (OTCQB:EFLVF) today announced that it will release the financial results for the quarter ended March 31, 2022 on Tuesday May 10th, 2022 after the markets close. CEO Dr. Sankar Das Gupta, COO Dr. Raj Das Gupta and EVP & CFO Richard Halka will host a conference call on Wednesday May 11th, 2022 at 8:00 a.m. Eastern Time (ET) to discuss the results and provide a business update.
Conference Call Details:
The Company will hold a conference call on Wednesday, May 11th at 8:00 am Eastern Time (ET), to discuss the March 31, 2022 quarter end financial results and to provide a business update.
US and Canada toll free: 877-407-8291
International: + 1 (201) 689-8345
To help ensure that the conference begins in a timely manner, please dial in 10 minutes prior to the start of the call.
For those unable to participate in the conference call, a replay will be available for two weeks beginning on May 11, 2022 through May 25, 2022. To access the replay, the U.S. dial-in number is (877) 660-6853 and the non-U.S. dial-in number is +1 (201) 612-7415. The replay conference ID is 13729794.
For more information, please contact:
Investor and Media Contact:
Jason Roy
Director, Investor Relations and Communications
Electrovaya Inc.
Tel: 905-855-4618
Email: jroy@electrovaya.com
Brownie’s Marine Group Completes Acquisition of Assets of Gold Coast Scuba, LLC.
Pompano Beach, Florida – May 3rd, 2022 – Brownie’s Marine Group, Inc. (OTCQB: BWMG), (“BWMG” or the “Company”), a leading developer, manufacturer and distributor of tankless dive equipment and high-pressure air and industrial compressors in the marine industry, today announced that its new subsidiary, Live Blue, Inc., (“Live Blue”) has completed the acquisition of the assets of Gold Coast Scuba, LLC, (“Gold Coast Scuba”) a dive shop and scuba diving training center operating in Lauderdale-by-the-Sea, Florida.
Live Blue will be initially focused on a creating a pilot program for guided tours, rental, and coaching provided with the Company’s innovative line of products from BLU3. Gold Coast Scuba’s Lauderdale-by-the-Sea facilities and location provides an ideal setting for this initiative since it allows for numerous water and wind-based activities to be launched from shore, including snorkeling, tankless diving, and scuba diving. The long-term goal for BWMG and Live Blue is to develop BLU3 guided tours to water sports activity centers around the world.
“We believe that one of our responsibilities as a company is to continuously grow the next-generation of families getting into the water together for recreation and exploration. We think the combination of our Live Blue experience centers and our super-friendly entry-point BLU3 tankless diving systems will encourage many more people around the world to enjoy, and ultimately be stewards of our marine eco-systems,” said Robert Carmichael, Chairman of the Company.
“We continue to be focused on mergers and acquisitions as part of our growth strategy. This is our second successful acquisition and integration in the last twelve months, and we continue to be on the lookout for potential businesses and partners that we think we can add value to,” said Mr. Christopher Constable, Chief Executive of the Company.
BWMG’s acquisition of the assets of Gold Coast Scuba is being done through a combination of equity and cash. Newbridge Securities Corporation is acting as the Exclusive M&A Advisor to the Company and The Crone Law Group is acting as the Company’s Legal Counsel.
About Gold Coast Scuba
Gold Coast Scuba is a PADI 5-star dive center located a few blocks from the beach in Lauderdale-by-the-Sea, Florida. For more information, visit: GoldCoastScuba.net.
About Brownie’s Marine Group
The Company owns and operates a portfolio of companies with a concentration in the industrial, and recreational diving industry. The Company, together with its subsidiaries, designs, tests, manufactures, and distributes recreational hookah diving, yacht-based scuba air compressors and nitrox generation systems, and scuba and water safety products in the United States and internationally. The Company has four subsidiaries focused on various sub-sectors of our industry, including Brownie’s Third Lung in Surface Supplied Air, BLU3, Inc. in Ultra-Portable Tankless Dive Systems, LW Americas in High Pressure Gas Systems and Submersible Systems, Inc. in Redundant Air Tank Systems. The Company’s wholly owned subsidiaries do business under their respective trade names on both a wholesale and retail basis from our headquarters and manufacturing facility in Pompano Beach, Florida, and a manufacturing facility in Huntington Beach, California.
For more information, visit: www.BrowniesMarineGroup.com.
NGen announces $76M in funding for ZEV projects
NGen announced 15 new industry-led consortia that will execute projects in strategic areas such as critical minerals & metals, traction battery & efficiency gains and other relevant fields.
April 29, 2022 by CM Staff
https://www.canadianmanufacturing.com/manufacturing/ngen-announces-76m-in-funding-for-zev-projects-281117/
Electrovaya announces promising solid-state battery results as it eyes EV markets
https://www.bestmag.co.uk/electrovaya-announces-promising-solid-state-battery-results-as-it-eyes-ev-markets/
Electrovaya announces promising solid-state battery results as it eyes EV markets
19 Apr 2022
News
By Paul Crompton
Lithium-ion battery manufacturer Electrovaya has achieved breakthrough performance results for its proprietary solid-state hybrid battery (lithium metal) technology.
Tests at its Electrovaya Labs division showed the company is on track to meet its automotive targets for lithium metal and solid-state batteries.
Coin cell samples reached 300 cycles with minimal degradation under standard room temperature conditions— showing the technology’s promise for passenger automotive applications, which targets 800 cycles with 80% capacity retention.
Pouch cells using Electrovaya’s proprietary solid-state hybrid battery technology were cycled at C/5 rates at room temperature at 100% DOD, no external pressure on cells.
Electrovaya has also scaled to single, two-layer and four-layer pouch cells, which have been cycling at room temperature with no external pressure and are following the same trends as the coin cells, say the Canadian firm.
Electrovaya aims to scale up and manufacture these cells using available methods, and is scaling its process to enable development of larger pouch cells, and accelerating efforts to reach commercial scale for its solid-state hybrid technology.
Battery certification
Earlier this month, Electrovaya completed UL2580 certification for 28 models of its 48V lithium-ion batteries.
Dr. Raj DasGupta, COO of Electrovaya, said: “Our 48V batteries went through extreme testing at various UL third party labs, and we are pleased to report the highly positive results.
“Receiving UL certification for so many new products is an important milestone as we work to expand market share for our batteries, which provide customers with unique safety and longevity without compromising energy and power.”
Paul Crompton
It has been brutal lately, let's hope that the earnings reports get us back on track. It's due in May. May 12th.
Brownie’s Marine Group Announces 56.4% Increase in Revenues for Fiscal Year End 2021
Apr. 22, 2022 3:13 PM ETBrownie's Marine Group, Inc. (BWMG)
Pompano Beach, FL, April 22, 2022 (GLOBE NEWSWIRE) -- Brownie’s Marine Group, Inc. (OTCQB: BWMG), a leading developer, manufacturer and distributor of tankless dive equipment and high-pressure air and industrial compressors in the marine industry, today announced results for the fiscal fourth quarter and twelve months ending December 31, 2021.
Chris Constable, CEO of Brownie’s Marine Group, Inc. stated, “We were pleased with our fiscal year 2021 results. We believe that the sales growth of greater than 56% means that our Company is experiencing significant momentum in our markets. This growth was hampered a bit by the worldwide supply chain and logistics challenges leading to higher costs for components and freight, negatively impacting our aggregate margins year over year. Additionally, we invested significantly in human capital to ensure that next year’s sales can continue at a similar pace. While both items affected our profitability for 2021, the Company has adjusted pricing to counter the increased component cost and I also believe that our front-loaded investment in people will pay dividends in the coming year.”
Q4-2021 Highlights
Total revenue increased 115.6% to $2.0 million for Q4-2021 vs. $930 thousand in the same period last year;
BLU3, Inc. revenue for Q4-2021 increased 294% to $1.04 million versus $263.2 thousand in the same period last year;
The Total Adjusted Net Income Loss decreased for Q4-2021 to a loss of $84.3 thousand versus a loss of $314.3 thousand in the same period last year;
Fiscal Year 2021 Highlights(1)
Total revenue increased 56.4% to $6.24 million for FY-2021 vs. $3.98 million in FY-2020;
Brownie’s Third Lung revenue increased 6.4% to $2.9 million for FY-2021 vs. $2.7 million in FY-2020;
LW Americas revenue increased 25.8% to $616 thousand for FY-2021 vs. $489.6 thousand in FY-2020;
BLU3, Inc. revenue increased 191.2% to $2.2 million for FY-2021 vs. $769.7 thousand in FY-2020;
The Total Adjusted Net Income Loss decreased for FY-2021 to a loss of $195.0 thousand versus a loss of $404.6 thousand in FY-2020;
(1) The total revenue, the BLU3 revenue and the Total Adjusted Net Income for 2020 are presented excluding the one-time sale of the Blu3 ventilator program to the U.S. Military of $574,900 during 2020.
Select Financial Metrics: Twelve Months Ended December 31st, 2021, Comparisons
(in thousands) Q4-21 Q4-20 Change FYE21 FYE20 Less: Vent Project FYE 20 net of Vent project Change
Total Net Revenues $ 2,005.00 $ 930.00 115.59 % $ 6,227.40 $ 4,556.00 $ 574.90 $ 3,981.10 56.42 %
Brownie’s Third Lung $ 477.30 $ 529.60 -9.88 % $ 2,897.20 $ 2,721.80 $ 0.00 $ 2,721.80 6.44 %
LW Americas $ 138.90 $ 137.20 1.24 % $ 616.00 $ 489.60 $ 0.00 $ 489.60 25.82 %
BLU3, Inc. $ 1,037.10 $ 263.20 294.03 % $ 2,241.40 $ 1,344.60 $ 574.90 $ 769.70 191.20 %
Submersible Systems, Inc. $ 351.70 - NM $ 472.80 - - - NM
Operating Income (loss) $ (623.40 ) $ (693.60 ) -10.12 % $ (1,852.7 ) $ (1,333.10 ) $ 280.40 $ (1,564.07 ) 14.82 %
Net Income (loss) $ (517.00 ) $ (697.40 ) -25.87 % $ (1,588.5 ) $ (1,351.6 ) $ 280.40 $ (1,702.10 ) -2.67 %
Adjusted Net Income (loss) $ (84.33 ) $ (314.27 ) -73.16 % $ (195.02 ) $ (57.23 $ 461.80 $ (404.58 ) -51.80 %
NM = not measurable/meaningful
Operational Highlights
May 2021 – BWMG announced that they have entered into an exclusive distributor agreement with Chrysalis Trading CC DBA Bright Weights for the US and the Caribbean.
September 2021 – BWMG completed its first acquisition, Submersible Systems, Inc. based out of Huntington Beach, California.
October 2021 – BWMG’s subsidiary, BLU3, Inc. launched its next-generation Ultra-Portable Tankless Dive System, the Nomad.
Non-Operational Highlights
In May 2021, BWMG announced that their subsidiary, BLU3, Inc. established a working partnership with Aquarium and Shark Lab by Team ECCO in their mission to introduce and educate children and adults in Western North Carolina to the ocean and its inhabitants.
In August 2021, BWMG employees attended a coastal conservation clean-up hosted by Force Blue & Pepsi Stronger Together in Lauderdale-by-the-sea, Florida.
Robert M. Carmichael, President and Chairman of the Board added, “We believe that part of our mission here at Brownie’s is to be part of the growth of the marketplace for recreational water exploration and conservation. By educating new users to enjoy our products, we are hopefully creating new customers, but also folks who will be good stewards of our oceans over the long-term. To that end, we have recently launched a new subsidiary called Live Blue, a pilot program for guided tours, rental, and coaching provided with the Company’s innovative line of products from BLU3. We are launching in conjunction with our acquisition of Gold Coast Scuba, LLC, a dive shop and scuba diving training center operating in Lauderdale-by-the-Sea, Florida.” Mr. Carmichael further added, “Our products are designed to be a fun, safe and easy way entry point to get a larger audience of people to come and enjoy our waters, and that building the marketplace will be a win-win for everyone involved.”
Non-GAAP Financial Measures
This press release includes certain financial measures that exclude the impact of certain items and therefore have not been calculated in accordance with U.S. generally accepted accounting principles (“GAAP”). We report adjusted net income (loss) to measure our overall results because we believe it better reflects our net results by excluding the impact of non-cash equity-based compensation. We believe the presentation of adjusted net income (loss) enhances our investors’ overall understanding of the financial performance of our business.
We believe that investors should have access to the same set of tools that we use in analyzing our results. This non-GAAP measure should be considered in addition to results prepared in accordance with GAAP but should not be considered a substitute for or superior to GAAP results.
The following is an unaudited reconciliation of adjusted net income (loss) to net income (loss) for the periods presented:
Three Months Ended December 31, Twelve Months Ended December 31, Nine Months Ended September 30,
2021 2020 2021 2020 2021 2020
Net income (loss) $ (517,002 ) $ (697,419 ) $ (1,588,467 ) $ (1,351,619 ) $ (1,071,465 ) $ (654,200 )
plus:
Stock issued for services $ 57,690 $ 57,758 $ 238,642 $ 308,479 $ 180,952 $ 250,721
Stock-based compensation incentive bonus shares issued to CEO and employees - - - $ 241,670 - $ 241,670
Stock-based compensation – options $ 374,977 $ 325,395 $ 1,154,801 $ 858,695 $ 779,824 $ 533,300
Adjusted net income (loss) $ (84,335 ) $ (314,266 ) $ (195,024 ) 57,225 $ (110,689 ) $ 371,491
About Brownie’s Marine Group
Brownie’s Marine Group, Inc., owns and operates a portfolio of companies with a concentration in the industrial, and recreational diving industry. The Company, together with its subsidiaries, designs, tests, manufactures, and distributes recreational hookah diving, yacht-based scuba air compressors and nitrox generation systems, and scuba and water safety products in the United States and internationally. The Company has four subsidiaries focused on various sub-sectors of our industry, including Brownie’s Third Lung in Surface Supplied Air, BLU3, Inc. in Ultra-Portable Tankless Dive Systems, LW Americas in High Pressure Gas Systems and Submersible Systems, Inc. in Redundant Air Tank Systems. The Company’s wholly owned subsidiaries do business under their respective trade names on both a wholesale and retail basis from our headquarters and manufacturing facility in Pompano Beach, Florida, and a manufacturing facility in Huntington Beach, California.
For more information, visit: www.BrowniesMarineGroup.com.
Safe Harbor Statement
This press release may contain forward looking statements which are based on current expectations, forecasts, and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected. Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors. Stockholders and potential investors should not place undue reliance on these forward-looking statements. Although we believe that our plans, intentions and expectations reflected in or suggested by the forward-looking statements in this report are reasonable, we cannot assure stockholders and potential investors that these plans, intentions or expectations will be achieved. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. Except to the extent required by law, we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, a change in events, conditions, circumstances or assumptions underlying such statements, or otherwise. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, as filed with the Securities and Exchange Commission (the “SEC”) on April 22, 2022, and our other periodic and quarterly filings with the SEC.
Source: Brownie’s Marine Group, Inc.
Contact Information: (954) 462-5570
info@browniesmarinegroup.com
https://www.globenewswire.com/newsroom/ti?nf=ODUyNzM5OCM0ODY1NjcxIzUwMDAyNTU5OA==
Lots of good info in this 10K, looking for more in the coming weeks!!!
Diving and Snorkeling Industry
The Sports, Fitness Industry Association (“SFIA”) estimated there were 2.6 million participants in the U.S. scuba diving market in 2020. According to a report published by the Dive Equipment Manufacturing Association (“DEMA”) in first quarter 2021, there were approximately 87,000 new participants in U.S. diving market in 2020 as compared to approximately 151,000 in 2019. DEMA attributes the drop in new open water certifications in 2020 primarily to the pandemic.
In contrast, the SFIA study indicated that participation in snorkeling increased by nearly 1% in 2020 as compared to 2019 with estimated participation of 7.7 million in the U.S.
The Company intends to enter the tourist market via a guided tour program that is currently intended to be launched in the second quarter of 2022. The Company sees the guided tour model as an important building block in introducing its battery powered diving products to the consumer market. Additionally, this model will not only give consumers the opportunity to “try before you buy”, but also provide experiential training for the consumer to increase enjoyment and safety of our diving products.
Fireside Chat: Electrovaya COO Dr. Raj Das Gupta
Thu, Apr 21, 2022 2:00 PM EDT
Please join us for a conversation with Electrovaya COO Raj Das Gupta. He will provide an overview of the company’s proprietary solid-state battery platform. Join us to hear about:
https://globalmeet.webcasts.com/starthere.jsp?ei=1544740&tp_key=1d1b8004ae2a6dc68735526a7d6c?ei=1529976&tp_key=8c69329787ries-electrovaya-coo-raj-dasgupta-to-provide-a-business-overview-on-february-17-at-2-00pm-est/teaser9976&tp_key=8c6932978738-1&h=229957438&u=https%3A%2F%2Furldefense.proofpoint.com%2Fv2%2Furl%3Fu%3Dhttps-3A__globalmeet.webcasts.com_starthere.jsp-3Fei-3D1476101-26tp-5Fkey-3D53f4861eac%26d%3DDwMGaQ%26c%3D9jofE9uWITqexiT2mYAumw%26r%3D1JR8YMZSkbOvTD71QzDQUWhMs_0Vc6io7mtncNQnKrc%26m%3DnnuJQc9GUFGkse6RrnMnea68wQHwIaciW2uxlFbIwv3NNGUzkNtUBdB5xW2nVTVd%26s%3Dw0srAOL6E2V_8NLuDjSZ9dgV7IaSaJ4p0avUnN2nkvw%26e%3D&a=here
https://twitter.com/Electrovaya/status/1516468924640120840/photo/1
Today is 15 days? Tomorrow is a holiday market closed maybe we get 10Q today or Monday?
Electrovaya Announces Breakthrough Performance for Proprietary Solid State Hybrid Battery Technology
Wednesday, April 13, 2022 8:00 AM
On track to meet automotive targets for lithium metal & solid state batteries. Achieved ~94% capacity retention after 300 cycles, scaled to multilayer pouch cell, demonstrating larger cell formats
TORONTO, ON / ACCESSWIRE / April 13, 2022 / Electrovaya Inc. ("Electrovaya" or the "Company") (TSX:EFL)(OTCQB:EFLVF), a lithium-ion battery manufacturer with differentiated intellectual property that allows heightened safety and improved longevity, today announced that it has achieved breakthrough performance results for its proprietary solid state hybrid lithium metal battery technology at its Electrovaya Labs division. The results support opportunities to significantly expand Electrovaya's product offerings and customer base over the long term.
electrovaya
Coin cell samples reached 300 cycles with minimal degradation under standard room temperature conditions (see Figure 1). These results highlight the ability of the technology to meet passenger automotive applications, which target 800 cycles with 80% capacity retention.
Figure 1: Capacity retention of multiple samples using Electrovaya's proprietary solid state hybrid battery technology. Coin cell samples were cycled at C/5 rates at room temperature at 100% DOD and have crossed 300 cycles with ~94% capacity retention.
Electrovaya has also achieved scaling to single, two-layer and four-layer pouch cells. These cells have been cycling at room temperature with no external pressure and are following the same trends as the coin cells. The first 40 cycles of a pouch cell sample are shown in Figure 2.
Figure 2: Capacity retention of pouch cell using Electrovaya's proprietary solid state hybrid battery technology. The samples were cycled at C/5 rates at room temperature at 100%DOD, no external pressure on the cells.
"The fact that Electrovaya has achieved these results without the use of external pressure on the cells and at room temperature showcases the strength of the technology relative to other solid state and lithium metal cell technologies, and will also allow easier adoption in automotive battery pack designs," said Dr. Raj Das Gupta, COO of Electrovaya.
Electrovaya has extensive experience in manufacturing cells, and the aim is to scale up and manufacture these cells using available methods. The Company is scaling its process to enable development of larger pouch cells, and is accelerating efforts to reach commercial scale for its solid state hybrid technology.
Figure 3: Prototype pouch cell featuring Electrovaya's solid state hybrid battery technology
"While our current Infinity Battery product line is proving successful for heavy duty applications including material handling electric vehicles, we are also very excited about this solid state breakthrough technology, which will enable much higher levels of energy density and potentially open up new applications for automotive and aerospace electrification," said Dr. Sankar Das Gupta, Chairman and CEO of Electrovaya.
Investor and Media Contact:
Jason Roy
Director, Investor Relations & Communication
Electrovaya Inc. / 905-855-4618 / jroy@electrovaya.com / www.electrovaya.com
About Electrovaya Inc.
Electrovaya Inc. (TSX:EFL)(OTCQB:EFLVF) is a pioneering leader in the global energy transformation, focused on contributing to the prevention of climate change by supplying the safest and longest-lasting lithium-ion batteries. Electrovaya, a technology-focused company with extensive IP, designs, develops, and manufactures proprietary lithium-ion batteries, battery systems, and battery-related products for energy storage, clean electric transportation, and other specialized applications. To learn more about how Electrovaya is powering mobility and energy storage, please explore www.electrovaya.com.
Forward-Looking Statements
This press release contains forward-looking statements relating to the performance of the Company's proprietary solid state hybrid lithium metal battery, anticipated future performance based on past performance and upgrade of our current battery line, opportunity to expand product offerings and customer base, ability of the technology to meet passenger automotive and aerospace applications, deployment of the Company's products by the Company's customers, and the use and performance of batteries and can generally be identified by the use of words such as "may", "will", "could", "should", "would", "likely", "possible", "expect", "intend", "estimate", "anticipate", "believe", "plan", "objective" and "continue" (or the negative thereof) and words and expressions of similar import. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. Certain material factors and assumptions are applied in making forward looking statements, and actual results may differ materially from those expressed or implied in such statements. Statements with respect to the performance and life of the Company's products by the Company's customers are based on an assumption that the Company's customers will deploy its products in accordance with communicated intentions and in accordance with recommended usage practices. Past performance of the batteries may not be indicative of future performance. Important factors that could cause actual results to differ materially from expectations include but are not limited to usage patterns by customers, environmental factors affecting usage, and normal product quality variation which effects are not predictable. Additional information about material factors that could cause actual results to differ materially from expectations and about material factors or assumptions applied in making forward-looking statements may be found in the Company's Annual Information Form for the year ended September 30, 2021 under "Risk Factors", and in the Company's most recent annual Management's Discussion and Analysis under "Qualitative And Quantitative Disclosures about Risk and Uncertainties" as well as in other public disclosure documents filed with Canadian securities regulatory authorities. 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.
SOURCE: Electrovaya Inc.
https://www.accesswire.com/697227/Electrovaya-Announces-Breakthrough-Performance-for-Proprietary-Solid-State-Hybrid-Battery-Technology
I like that part too! I guess the patience will be rewarded, holding strong here!!! Wish I had some extra dry powder. This seems to be ripe for adding here!
GLTA!!!
I guess after all this time I thought you were a Shark, now I see you must be a Whale! LOL!!!
Four more days then we get earnings! Looking for a good report here!
GLTA!!!
Quote from Todays News... Could be a huge increase in sales!
I am thinking Amazon, we know that Walmart is a customer that they have named in the past as a business partner. Amazon has not been named yet. Just my opinion. GLTA!!!
Electrovaya Receives Purchase Orders of US$10.6 million
TORONTO, ON / ACCESSWIRE / April 7, 2022 / Electrovaya Inc. ("Electrovaya" or the "Company") (TSX:EFL)(OTCQB:EFLVF) a lithium-ion battery manufacturer with differentiated intellectual property that allows heightened safety and improved longevity, today announced that the Company recently received further purchase orders valued at about US$10.6 million. The Company received a blanket purchase order from its OEM sales partner valued at more than US$9.4 million, and other purchase orders worth approximately US$1.2 million.
https://ceo.ca/@accesswire/electrovaya-receives-purchase-orders-of-us106-million