Welcome!

Mobile IoT Authors: Steve Latham, Elizabeth White, Jamie Maidson, Pat Romanski, Automic Blog

News Feed Item

Electrovaya, Accompanying Prime Minister Harper's Trade Mission to India, Signs Two MOUs for Lithium Ion Batteries for Automotive and Telecom Applications

MOU with Environ Energy in powering the Telecom Sector and Hero Eco for Two Wheelers in Europe, North America and India

TORONTO, ONTARIO -- (Marketwire) -- 11/06/12 -- Electrovaya Inc. (TSX:EFL), accompanying Prime Minister Harper's Trade Mission to India, today announced that it has signed two MOUs in the fast growing areas of Energy Storage in the Telecom sector with Environ Energy (Bhaskar Solar), part of a $4 billion Indian conglomerate, as well as a further expansion in the electric two wheeler sector with Hero Eco for markets in Europe, North America and India.

Hero Eco Ltd.

The MOU with Hero Eco Ltd. would further the synergies of both Electrovaya's and Hero Eco's recent acquisitions. Electrovaya would work with Hero Eco to implement Lithium Ion powered electric bikes for Hero's markets in Asia, Europe and North America.

Hero Eco, the umbrella entity that includes Hero Electric, Hero Exports, Hero Cycles, Mediva, Winn and Hero Ecotech recently expanded its operations in Europe and North America through its overseas acquisition. As a result of this acquisition, Hero will now market Lithium Ion powered electric bikes in less price-sensitive markets of Europe and North America, expanding its market reach to 22 countries.

Hero's expansion into Europe fits well with Electrovaya's recent acquisition of Miljobil Grenland in Europe. Miljobil is a Lithium Ion Battery Pack integrator, which was earlier part of Tata Motors.

Hero is also expecting an increase in sales of Lithium battery powered Electric two-wheelers in the price-sensitive Indian market as a result of India's recently announced National EV policy. The Indian government's recent EV policy calls for a Rs 23,000 crore plan to promote the production of electric (EV) and hybrid vehicles over the next eight years, and set a sales target of 6 million units by 2020. The policy includes aspects such as incentives to customers, charging infrastructure, research & development funding and creation of EV zones.

A trusted brand name with numerous sales and service outlets across India, Hero Electric, which falls under the umbrella of Hero Eco, has recently been developing and testing its products in Europe and North America.

"We have been targeting a multi-country opportunity for our Clean Transportation products and this will further enhance our existing partnership with Electrovaya." says Naveen Munjal, Managing Director of Hero Electric.

"Hero's global expansion plans demonstrate the need for a Green alternative to traditional gasoline powered two-wheel modes of transportation," says Dr. Sankar Das Gupta, CEO of Electrovaya Inc. "We are delighted to work with leaders such as Hero for these high-growth Clean Transportation markets."

Environ Energy Corporation India Pvt. Ltd. (also known as "Bhaskar Solar")

The MOU with Bhaskar Solar intends to harness Electrovaya's Lithium Ion Battery technology in making renewables-based telecom towers possible. Electrovaya would work jointly with Bhaskar Solar to implement renewable energy management solutions across Bhaskar's proposed 15,000 telecom tower applications.

According to the Telecom Regulatory Authority of India ("TRAI"), India currently has over 300,000 tower sites of which over 30,000 are in off-grid areas. The majority of the Telecom Towers are powered by diesel generators, whether on-grid or off, due to the intermittent power supply. The total annual consumption of diesel fuel by these towers is 2 billion litres, as a result of which 5 megatons of CO2 is produced annually. TRAI has recently made it mandatory for telecom companies to use renewable sources of energy for powering their towers. At least 50% of towers and 20% of the urban towers are to be powered by hybrid energy sources (renewable and grid) by 2015. In the second phase, the telecom companies will be required to convert 75% of the rural towers and 33% of the urban towers to run on hybrid power. Ministry of New and Renewable Energy ("MNRE") is supporting off-grid solar telecom applications by providing capital subsidy of 30% to a maximum subsidy of Rs 90 per watt peak. Alternatively, soft loans at 5% interest rate subsidized by India Renewable Energy Development Agency (IREDA) are being offered for such projects.

"We have been researching opportunities in the solar industry for some time and have been awaiting an opportunity that could leverage the growing recognition by key regulators about the need to replace diesel generators with clean technology environmentally-friendly energy storage solutions." says Partha Chatterjee, Head Telecom, Environ Energy. "The large size of the market, combined with the growing cost of diesel energy solutions and the financing available for such projects, makes this a very exciting opportunity." adds Partha Chatterjee.

Electrovaya's technology has been commercialized and brought to market with the support of the Government of Canada through Sustainable Development Technology Canada (SDTC). "For SDTC, it is a rewarding to see increased global deployment of Electrovaya's lithium ion SuperPolymer battery in emerging markets like India in the critical sectors of clean transportation and energy storage for telecom applications," said Dr. Vicky Sharpe, President & CEO, SDTC.

About Electrovaya:

Electrovaya Inc. (TSX:EFL) designs, develops and manufactures proprietary Lithium Ion SuperPolymer® batteries, battery systems, and battery-related products for the clean electric transportation, Utility Scale Energy Storage and smart grid power, consumer and healthcare markets. The Company's mission is to accelerate clean transportation as a commercial reality with its advanced power system for all classes of zero-emission electric vehicles and plug-in hybrid electric vehicles. The Company's other mission is to deliver Utility Scale Energy Storage Systems for the highest efficiency in electricity storage, whether the electricity is generated from intermittent wind and solar power or from other sources. Founded in 1996 and headquartered in Ontario, Canada, Electrovaya has production facilities in Canada, USA and Europe with customers around the globe. To learn more about how Electrovaya is implementing Clean Energy, please explore www.electrovaya.com.

About HERO:

HERO Eco Ltd. Is the newly formed umbrella company of the HERO Group that includes Hero Electric, Hero Exports, Hero Cycles, Mediva, Winn and Hero Ecotech. Hero Eco plans to invest Rs 450 Crore with the intention of turning this investment into Rs. 1500 Crore within the next five years. The Hero Group is one of the world's largest producers of two wheelers. With a background of extensive research, HERO Electric entered the Electric vehicle segment with the single objective of providing eco-friendly, cost-effective mode of personalized transportation with its range of Electric Two-wheeler models. Over a short period of time, HERO Electric has been quick to establish itself as an undisputed leader in the Electric Two-wheeler segment. To learn more about HERO Eco please visit www.heroeco.com.

Environ Energy (Bhaskar Solar):

Environ Energy Corporation India Pvt. Ltd. (also known as "Bhaskar Solar") is part of a $4.1 billion Indian conglomerate based in Kolkata. The group has diverse interests including Clean Renewable Energy and is a leader in the Telecom Tower power sector.

Forward-Looking Statements

This press release contains forward-looking statements that involve a number of risks and uncertainties, including statements that relate to, among other things, the Company's objectives, goals, strategies, intentions, plans, beliefs, expectations and estimates, and can generally be identified by the use of words such as "may", "will", "could", "should", "would", "likely", "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.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
SYS-CON Events announced today that Infranics will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Since 2000, Infranics has developed SysMaster Suite, which is required for the stable and efficient management of ICT infrastructure. The ICT management solution developed and provided by Infranics continues to add intelligence to the ICT infrastructure through the IMC (Infra Management Cycle) based on mathemat...
SYS-CON Events announced today that Auditwerx will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Auditwerx specializes in SOC 1, SOC 2, and SOC 3 attestation services throughout the U.S. and Canada. As a division of Carr, Riggs & Ingram (CRI), one of the top 20 largest CPA firms nationally, you can expect the resources, skills, and experience of a much larger firm combined with the accessibility and attent...
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 20th Cloud Expo, which will take place on June 6-8, 2017 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 add...
SYS-CON Events announced today that Cloudistics, an on-premises cloud computing company, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloudistics delivers a complete public cloud experience with composable on-premises infrastructures to medium and large enterprises. Its software-defined technology natively converges network, storage, compute, virtualization, and management into a ...
In his session at @ThingsExpo, Eric Lachapelle, CEO of the Professional Evaluation and Certification Board (PECB), will provide an overview of various initiatives to certifiy the security of connected devices and future trends in ensuring public trust of IoT. Eric Lachapelle is the Chief Executive Officer of the Professional Evaluation and Certification Board (PECB), an international certification body. His role is to help companies and individuals to achieve professional, accredited and worldw...
In his General Session at 16th Cloud Expo, David Shacochis, host of The Hybrid IT Files podcast and Vice President at CenturyLink, investigated three key trends of the “gigabit economy" though the story of a Fortune 500 communications company in transformation. Narrating how multi-modal hybrid IT, service automation, and agile delivery all intersect, he will cover the role of storytelling and empathy in achieving strategic alignment between the enterprise and its information technology.
Microservices are a very exciting architectural approach that many organizations are looking to as a way to accelerate innovation. Microservices promise to allow teams to move away from monolithic "ball of mud" systems, but the reality is that, in the vast majority of organizations, different projects and technologies will continue to be developed at different speeds. How to handle the dependencies between these disparate systems with different iteration cycles? Consider the "canoncial problem" ...
The Internet of Things is clearly many things: data collection and analytics, wearables, Smart Grids and Smart Cities, the Industrial Internet, and more. Cool platforms like Arduino, Raspberry Pi, Intel's Galileo and Edison, and a diverse world of sensors are making the IoT a great toy box for developers in all these areas. In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists discussed what things are the most important, which will have the most profound e...
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor - all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
My team embarked on building a data lake for our sales and marketing data to better understand customer journeys. This required building a hybrid data pipeline to connect our cloud CRM with the new Hadoop Data Lake. One challenge is that IT was not in a position to provide support until we proved value and marketing did not have the experience, so we embarked on the journey ourselves within the product marketing team for our line of business within Progress. In his session at @BigDataExpo, Sum...
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
What sort of WebRTC based applications can we expect to see over the next year and beyond? One way to predict development trends is to see what sorts of applications startups are building. In his session at @ThingsExpo, Arin Sime, founder of WebRTC.ventures, will discuss the current and likely future trends in WebRTC application development based on real requests for custom applications from real customers, as well as other public sources of information,
In his General Session at 17th Cloud Expo, Bruce Swann, Senior Product Marketing Manager for Adobe Campaign, explored the key ingredients of cross-channel marketing in a digital world. Learn how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects).
With the introduction of IoT and Smart Living in every aspect of our lives, one question has become relevant: What are the security implications? To answer this, first we have to look and explore the security models of the technologies that IoT is founded upon. In his session at @ThingsExpo, Nevi Kaja, a Research Engineer at Ford Motor Company, will discuss some of the security challenges of the IoT infrastructure and relate how these aspects impact Smart Living. The material will be delivered i...
"My role is working with customers, helping them go through this digital transformation. I spend a lot of time talking to banks, big industries, manufacturers working through how they are integrating and transforming their IT platforms and moving them forward," explained William Morrish, General Manager Product Sales at Interoute, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
SYS-CON Events announced today that Ocean9will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Ocean9 provides cloud services for Backup, Disaster Recovery (DRaaS) and instant Innovation, and redefines enterprise infrastructure with its cloud native subscription offerings for mission critical SAP workloads.
Your homes and cars can be automated and self-serviced. Why can't your storage? From simply asking questions to analyze and troubleshoot your infrastructure, to provisioning storage with snapshots, recovery and replication, your wildest sci-fi dream has come true. In his session at @DevOpsSummit at 20th Cloud Expo, Dan Florea, Director of Product Management at Tintri, will provide a ChatOps demo where you can talk to your storage and manage it from anywhere, through Slack and similar services ...
SYS-CON Events announced today that Linux Academy, the foremost online Linux and cloud training platform and community, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Linux Academy was founded on the belief that providing high-quality, in-depth training should be available at an affordable price. Industry leaders in quality training, provided services, and student certification passes, its goal is to c...
"delaPlex is a software development company. We do team-based outsourcing development," explained Mark Rivers, COO and Co-founder of delaPlex Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.