Ontario battery firm signs two MOUs on Harper trade mission
Deals will see Electrovaya's lithium-ion technology used in telecom, electric bike sectors
MISSISSAUGA, Ont.—Ontario-based lithium-ion (Li-ion) maker Electrovaya Inc. says it has signed two memorandums of understanding (MOU) in India while on a federal trade mission to the country.
Accompanying Prime Minister Stephen Harper’s trade mission, the firm says it signed the MOUs in the rapidly 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.
According to Electrovaya, the MOU with Hero Eco would see the firm develop Li-ion batteries for electric bikes for Hero’s markets in Asia, Europe and North America
The MOU with Bhaskar Solar will see Electrovaya’s Li-ion battery technology used in making renewable-based telecom towers.