TORONTO, ON--(Marketwired - August 16, 2016) - Electrovaya Inc. (TSX: EFL) (OTCQX: EFLVF) and its wholly owned subsidiary, Litarion GmbH introduces the next generation LITACELL™, LC-44. The LITACELL™ LC-44 with its higher energy density, delivers 44Ah in the same geometry as the 40 Ah LITACELL™ LC-40. The new model LC-44 is available to OEMs and battery pack integrators worldwide and first deliveries will be made this quarter, Q4 FY2016.

The LITACELL™LC-44 features an unparalleled combination of safety, cycle life and cost. It promises extraordinary cycle and calendar life (up to 9000 cycles at 1C charge and 1C discharge at 100% Depth of Discharge), unique safety properties due to the unparalleled stability of SEPARION™ flexible ceramic separator membrane, stringent quality standards and excellent pricing options.

The LITACELL™ LC-44 contains optimized NMC/graphite based electrode chemistry.

"Our strong research team has an exciting program to continuously develop the next generation of lithium-ion cells. The increased energy density of the LC-44 reduces material and other production costs while giving higher energy capacity in the same volume and same geometrical package as the LC-40. Lithium Ion Cells have cost, cycle-life and safety challenges and the LITACELL™ LC-44 provides the break-through technology to address some of these challenges," said Dr. Joerg Reim, Chief Technical Officer, Litarion.

"LITACELL™ 44Ah cells are now available to customers in Europe, North America and elsewhere, where the market demands highest safety and lowest holistic cell costs," says Dr. Pia Kuesgens, Manager, Business Development at Litarion. "We believe this technology should become the industry standard for the Electric Mobility and Energy Storage markets," says Dr. Kuesgens.

Please visit and attend our talks at:

• Renewable Energy India Expo, September 7-9, 2016, Noida, India
• Solar Power International, September 12-15, 2016, Las Vegas, Nevada
• The Battery Show, September 13-15, 2016, Novi, Michigan
• eCarTec, October 18-20, 2016, Munich, Germany

About Electrovaya Inc.

Electrovaya Inc. (TSX: EFL) (OTCQX: EFLVF) designs, develops and manufactures proprietary Lithium Ion Super Polymer® 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.

To learn more about how Electrovaya and Litarion is powering mobility and energy storage, please explore www.electrovaya.com, www.litarion.com and www.separion.com

Forward-Looking Statements

This press release contains forward-looking statements, including statements that relate to, among other things, revenue forecasts, technology development progress, plans for shipment using the Company's technology, production plans, the Company's markets, objectives, goals, strategies, intentions, beliefs, expectations and estimates, and can generally be identified by the use of words such as "may", "will", "could", "should", "would", "likely", "possible", "expect", "intend", "estimate", "anticipate", "believe", "plan", "objective" and "continue" (or the negative thereof) and words and expressions of similar import. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. Certain material factors or assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements. Important factors that could cause actual results to differ materially from expectations include but are not limited to: general business and economic conditions (including but not limited to currency rates and creditworthiness of customers); Company liquidity and capital resources, including the availability of additional capital resources to fund its activities; level of competition; changes in laws and regulations; legal and regulatory proceedings; the ability to adapt products and services to the changing market; the ability to attract and retain key executives; and the ability to execute strategic plans. Additional information about material factors that could cause actual results to differ materially from expectations and about material factors or assumptions applied in making forward-looking statements may be found in the Company's most recent annual and interim Management's Discussion and Analysis under "Risk and Uncertainties" as well as in other public disclosure documents filed with Canadian securities regulatory authorities. The Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements contained in this document, whether as a result of new information, future events or otherwise, except as required by law.