Electrovaya Receives Follow-up Purchase Order from US Fortune 100 Company for its Lithium Ion Ceramic Drop-In Replacement Forklift Battery

Green tech solution allows for reduced energy consumption, lower environmental concerns and increased productivity

TORONTO, ONTARIO–Electrovaya Inc. has announced that a U.S. Fortune 100 company has placed a second purchase order with Electrovaya for its lithium-ion ceramic forklift battery. The second order amounted to US$ 167,000 (C$ 214,000).

This purchaser is one of the five US Fortune 500 companies who have earlier issued initial purchase orders to Electrovaya for its forklift batteries. Over the last three months, Electrovaya has added four Fortune 500 clients for its lithium-ion ceramic drop-in replacement battery and we are pleased with the continuing momentum evidenced by this US Fortune 100 purchaser adding a second purchase order to its initial order last month.

The Electrovaya battery can improve productivity, reduce maintenance, and has the potential to reduce peak demand as well as decrease electricity usage in heavy-duty 24/7 distribution and manufacturing environments. The Electrovaya batteries include the proprietary ceramic separator, SEPARION™, which provides enhanced safety and cycle life. While the sales cycle could be long and there is no guarantee that the Company’s initiatives will result in significant orders, Electrovaya is pleased with the performance of its batteries in both testing and initial deployments and this repeat order from a US Fortune 100 Company.

About Electrovaya Inc.

Electrovaya Inc. designs, develops and manufactures proprietary Lithium-ion Ceramic Batteries, battery systems, and battery-related products for energy storage, clean electric transportation and other specialized applications. Electrovaya, through its fully owned subsidiary, Litarion GmbH, also produces cells, electrodes and SEPARION™ ceramic separators and has manufacturing capacity of about 500MWh/annum. Electrovaya is a technology focused company with extensive IP. Headquartered in Ontario, Canada, Electrovaya has production facilities in Canada and Germany with customers around the globe.

CNG’s Spicers Canada Acquires Shippers Supply, Expanding Product Mix throughout Western Canada

Central National Gottesman Inc. (CNG), a leading sales and marketing organization in the global pulp, paper, packaging, tissue, wood products and metal industries, announced today that its Spicers Canada division will acquire Shippers Supply, expanding its position in the distribution of shipping, packaging and warehouse supplies.

Privately owned and headquartered in Edmonton, Alberta, Shippers Supply operates nine locations throughout Western Canada, and has supplied corrugated boxes, labels, tape, stretch film, shelving, packaging supplies and warehouse equipment to the region since 1975.

“The acquisition of Shippers Supply is another critical step forward in many product categories we want to grow throughout our North American Distribution business,” said Andrew Wallach, CNG President and Chief Executive Officer. “We look forward to building on the strong foundation and success that Shippers Supply has created over the years.”

Spicers Canada President Cory Turner added that the acquisition of Shippers Supply fits with his organization’s strategy to leverage its significant distribution capabilities in new ways.

“The opportunity to acquire Shippers Supply adds significant capabilities and expertise that will be invaluable in meeting our company’s market strategy,” said Turner. “Extending product solutions both inside and outside of our core markets creates immediate opportunities that align well with our growth initiatives.”

Shippers Supply will operate as an independent division of Spicers Canada, working closely with Spicers’ existing operations and distribution network in Western Canada.

Spicers Canada is a leading distributor of quality commercial print and business papers, graphic solutions, industrial packaging supplies, wide format and specialty products.

The transaction is expected to be finalized November 30, 2017.

Central National Gottesman Inc. (CNG) is a $5.5 billion global sales and marketing organization in the pulp, paper, packaging, tissue, wood products and metal industries. Founded in 1886 and headquartered in Purchase, NY, CNG operates through established industry entities in its Distribution, Publishing Papers and international Central National divisions, building on more than 131 years of family ownership, market knowledge and adaptability to create value for clients around the world. To learn more, please visit www.cng-inc.com.