- Electrovaya Inc. (EFL) shared its plans to start developing high-voltage stationary energy storage battery systems using its Infinity Battery Technology platform
- It has extensive intellectual property, designs, and developments for lithium-ion batteries
- The platform is said to have a superior life cycle compared to usual lithium-ion batteries
- It is already used in a high volume of material-handling electric vehicles
- Electrovaya Inc. (EFL) is up 0.94 per cent and is trading at $1.07 per share as of 1:53 p.m. EST
Electrovaya (EFL) has shared its plans to start developing high-voltage stationary energy storage battery systems using its Infinity Battery Technology platform.
The company has extensive intellectual property, designs, and developments for lithium-ion batteries, battery systems, and battery-related products for energy storage, clean electric transportation, and other specialized applications.
The company stated the Infinity Battery Technology platform, which is already used in a high volume of electric vehicles, has a superior cycle life and safety performance standards compared to usual lithium-ion batteries.
Dr. Raj DasGupta, CEO of Electrovaya, commented,
“We believe the time is right to develop bespoke lithium-ion battery solutions for the stationary energy storage market… with our lithium-ion gigafactory in Jamestown, New York, and significant government incentives available, including those in the inflation reduction act, we believe that we are well positioned to succeed in this key market.”
Electrovaya will be showcasing its energy storage technologies at the Intersolar North America and Energy Storage North America event in Long Beach, California, in mid-February.
Electrovaya Inc. (EFL) is up 0.94 per cent and is trading at $1.07 per share as of 1:53 p.m. EST.
