Electrovaya Inc (OTCMKTS:EFLVF) On Radar After New Higher Capacity Lithium-Ion Infinity Cell Series
Leading lithium ion battery technology and manufacturing company Electrovaya Inc (OTCMKTS:EFLVF) was in the news cycle on Tuesday after it made a crucial new announcement. The company announced that it was going to launch a new infinity series cell which would also have the capacity to raise its current cell product by as much as 10%.
Trading Data
On Tuesday, EFLVF stock moved down 0.30% to $0.7166 with more than 23.66K shares, compared to volume of 47.73K shares. The stock moved within a range of $0.7043 – 0.7166 after opening trade at $0.7090.
Electrovaya Announces New Higher Capacity Lithium-Ion Infinity Cell Series
The current version of the product, which had been manufactured through Electrovaya’s proprietary lithium ion ceramic technology, commanded a cell capacity of 52 ampere hours. In fact, the product had recently received both a UL 2580 certification and a UN 38.2 certification.
The 52 ampere hours cell would continue to offer the same advantages of the Infinity series of products but with a significantly improved level of energy density. The company’s Director of Engineering Programs Dr Elmira Memarzadeh spoke about the latest development as well and noted that the 10% increase was consistent with Electrovaya’s strategy of going for incremental improvements to its products.
The executive added that the UL certification process had been complete and Electrovaya was not preparing to put the cell into production. Most of the product lines are expected to transition in 2023.
