Battery Manufacturer Gets Boost from Ontario, Canada.

Ontario Government Invests in Green Tech, Helps Create 240 Jobs

TORONTO -- Ontario, Canada is helping to bring batteries to market for the next generation of electric and plug-in hybrid vehicles.

The Ontario government investment in Electrovaya, headquartered in Mississauga, Ontario, will help create 240 jobs and support 50 existing positions. The company's patented battery technology lets cars drive further on a single charge than electric vehicles that use other batteries. Electrovaya has already signed several deals with automakers in Europe, Asia and North America and is in a strong position to become a world leader in manufacturing batteries for electric vehicles.

Investing in innovation is part of the Ontario government's plan to secure the next generation of high-paying jobs for Ontario families.

"Ontario has the skilled workforce, the positive investment climate and the commitment to innovation to transform new ideas into jobs for Ontario families. Together we can develop new and sustainable products that we can market to the world," said Dalton McGuinty, Premier of Ontario.

"The support from the Government of Ontario allows us to accelerate our growth plans and bring our technology to market sooner. We are excited to be adding to our team and increasing our innovation and technology capabilities in Mississauga," commented Dr. Sankar Das Gupta, CEO of Electrovaya.

QUICK FACTS

* Electrovaya is investing $94.8 million in the expansion. The Ontario government is providing an additional $16.7 million.

* Ontario wants one in 20 vehicles driven in the province to be electric by the year 2020.

* Electrovaya's Lithium Ion SuperPolymer battery powers the Maya 300. The car is part of a new electric car share-and-rental program in Baltimore.