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SmallCapPower
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Daily Stocks on the rise
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The Ubika Research Cleantech Stock Watchlist
| Electrovaya Inc. (EFL- TSX) |
| Company Name: |
Electrovaya Inc. |
| HQ Location: |
Mississauga, Ontario |
| Company Website: |
www.electrovaya.com |
| Closing Share Price (April 6, 2010) |
$2.83 |
| Shares Outstanding |
70.2 Million |
| Market Cap: |
$198.7 Million |
| Average Daily Volume |
1,000,800 |
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Share Highlight / 1-Year Stock Chart
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Business Overview
Electrovaya Inc. (Electrovaya) designs, develops and manufactures advanced Lithium Ion SuperPolymer batteries and battery systems for the transportation, electric grid stationary storage, consumer, healthcare and mobile computing end-markets. Its SuperPolymer battery technology is a novel nanostructured lithium ion polymer technology platform. It enables more energy to be stored in a smaller space and powers applications that are smaller, lighter and more powerful.
Besides lithium-ion batteries, Electrovaya also builds storage systems for electricity created by renewable power sources such as wind, solar and tidal. Founded in 1996 and headquartered in Ontario, Canada, Electrovaya has production facilities in Canada as well as in the US, and customers around the globe.
The Company’s current primary target market includes electric vehicles, whereby the Company is developing power-system designs for clean transportation applications.
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What is interesting?
- A cleantech company with proven technology that addresses both economic and environmental issues.
- A strong research and development practice that leads to innovations and commercially viable product portfolio. The company has over 150 global patents on its Lithium Ion SuperPolymer® battery technology and associated system technologies.
- The company has developed a unique proprietary manufacturing process that results in lower cost and an emission free manufacturing, all based in North America.
- A recently announced contract with Chrysler Group LLC to provide lithium-ion batteries for a plug-in hybrid version of the auto maker's Dodge Ram pickup trucks in a demonstration program.
- A contract as a battery supplier from one of the world’s leading automobile companies provides important validation to the battery technology developed by the company.
- Valuable joint ventures and partnerships with major automobile manufacturers in the emerging markets such as with Tata Motors in India. This could provide the company a competitive advantage and a head start in high growth emerging markets.
- A strong management team and advisory board. The company recently appointed the former Chrysler president Tom LaSorda as a special adviser to the CEO of the company.
Risks
Like many other cleantech companies Electrovaya has high research and development costs. Although currently well financed, the company might require to access capital markets to raise additional capital, which could potentially result in shareholder dilution. The market for battery powered automobiles is still at a very early stage and it may take years before this technology is widely adopted. There could be delays in the acceptability of battery technologies offered by Electrovaya and can adversely impact its growth.
Company News
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