Electrovaya Receives $1.3M for Lithium Ion SuperPolymer2.0 Systems for Toronto Hydro and London Hydro
Electrovaya Inc. (TSX: EFL) announced that it has received a $1.3 million grant award to deliver multiple Intelligent Energy Storage Systems (IESS) at various locations with Toronto Hydro and London Hydro. This project is supported by the Ontario Ministry of Energy's Smart Grid Fund. The IESS units will be serving multiple applications including phase balancing, infrastructure deferment, electric vehicle charging and general energy storage functions. "We are very excited to begin the project with Toronto Hydro and London Hydro where we will be delivering cutting-edge energy storage systems in the form of our innovative IESS device. The IESS is an effective smart grid solution for these two leading utilities and it provides energy storage and power quality in a single system," says Dr. Rajshekar DasGupta, VP Business Development.