Canadian battery maker Electrovaya has signed a Service Agreement with an unnamed NYSE Fortune 1000 electro-mobility maker to develop lithium-ion modules for its range of products.
Electrovaya will begin designing, developing and manufacturing the battery modules immediately, with large volume, commercial production starting in late 2017.
The deal gives the Ontario-based company a new area of business based around its lithium-ion cell, component and module products.
Dr. Rajshekar Das Gupta, VP, Business Development Electrovaya, said: “This Service Agreement takes us into a new business sector, where there is a need for rapid transformation from diesel or lead-acid powered products to lithium-ion battery power.”
The deal is the fifth in as many months for the company
In September the company signed a deal to supple UK truck makers the Hyster-Yale Group with lithium-ion battery modules containing its proprietary ceramic separator, Separion™
That same month its wholly owned German-based subsidiary Litarion inked a €18.5million (US$20.8million) deal with a mystery energy storage systems manufacturer.
And in August it signed three deals, again to supply modules in residential and electric bus applications by three unnamed OEMs totaling €290million ($328.5million) within days of each other.