Electrovaya Inc (ELVA)

[batteryguy1900]

Country I appreciate your explanation. This is the first time I have been addressed as not being totally off base.
Like I said I was in the battery business in the ev industry for my entire career. My concerns are listed below

1 this is Lithium and is very dangerous. On batteries as big as the MHE ( Material Handling equipment) use they are increasing the cost of a battery from 5-7 times. Yes there are huge benefits but the cost and the fact that some municipalities and counties are not approving use of lithium in their area due to the dander of lithium. Remember UPS has lost two planes in the last several years due to lithium cargo

2. Although Raymond is owned by Toyota they operate totally independent of each other. Currently Toyota is partnering with a different company. This is an ego move by Toyota but none the less that is what is as of today

3. UL 2580 (heat propagation test) I believe but am not totally certain this company is the only one that has passed this test. This is due to the ceramic separators they use. When that patent expires everyone will have that advantage

4. The largest industrial battery company in the world ( Enersys ) has not even introduced their lithium yet. If they are able to pass the UL 2580 certification which they claim they now can they will Bury Electrovaya in short order.

5. At the last show ( Modex ) there were 37 lithium battery companies and yes most of them are not financially capable of financially making it and will fall by the wayside but some have good products

6. Due to the danger of lithium, alternative ( Solid State among others ) chemistries are heavily and quickly being developed.

7. Management. Until they bring in a CEO that understands the entire industry they will not get much bigger due to the blunders they have made and continue make. PhD’s chemical engineers have a certain arrogance about them that they know more about EVERTHING that anyone else.

8. Recycling, ask a lithium battery company what they do with and where they do it with the battery at the end of life. There is one company (li-cycle). That can possibly recycle. They are a young company who just merged with someone. If they can actually recycle MHE batteries that to will help the industry and Electrovaya

I continue to believe this company has great potential but the industry is changing daily and they aren’t sure if they should lead, follow or just get out of the way. I am not selling my positions and hope it goes big but NASDAQ might not even approve the uplist due to past business decisions. As you know there are other factors to consider besides a recent financial statement and doing a R/S.

#GL Country