Electrovaya Partners with Canadian Solar for a Micro-Grid Energy Storage Project

Electrovaya Partners with Canadian Solar for a Micro-Grid Energy Storage
Project

Electrovaya to Supply a Lithium Ion SuperPolymer(R)2.0 200kWh Battery System

MISSISSAUGA, ON, March 17, 2014 (GLOBE NEWSWIRE) -- Electrovaya Inc. (TSX:EFL)
a leading developer and manufacturer of lithium ion battery systems today
announced that it will partner with Canadian Solar Inc., one of the world's
largest solar power companies, for a micro-grid project. Electrovaya plans to
provide a 200 kWh energy storage system which will feature its Lithium Ion
SuperPolymer®2.0 technology.

The project is being funded by the Ontario Smart Grid Fund, through the
Ministry of Energy. The funding supports projects that advance the development
of the smart grid in Ontario and provide economic development opportunities.
According to Ontario's Long-Term Energy Plan released last December, the
government will design programs that will encourage innovative technologies
and approaches, including consideration of proposals that integrate energy
storage with renewable energy generation.

"We are pleased to work with Canadian Solar. This project is a start for more
collaboration in this growing field of micro-grids," says Dr. Raj Das Gupta,
VP of Business Development at Electrovaya. "Energy storage can bring a high
value for solar photovoltaic systems (PVs) as it can store the surplus energy
and enables PVs to become a reliable power source. We are committed to
establishing a sustainable and reliable energy solution to Ontario by working
with Canadian Solar on this project", said Dr. Das Gupta.

"In continuing our dedication to providing customers the highest value from
their investment, we are pleased to be working with Electrovaya on this
micro-grid project, where the solar energy can be stored in Electrovaya's
batteries and provide high quality and reliable power to the user", said Dr.
Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar Inc.

About Electrovaya Inc.

Electrovaya Inc. (TSX:EFL) designs and manufactures proprietary Lithium Ion
SuperPolymer®2.0 batteries, battery systems and energy storage related
products for the clean electric transportation, portable energy, utility scale
energy storage, smart grid power, consumer and healthcare markets. The
Company's unique & proprietary technology includes a manufacturing process
which does not use any toxic chemicals. Founded in 1996 and headquartered in
Mississauga, Canada, Electrovaya has production facilities in Canada and
customers around the globe. To learn more about how Electrovaya is powering
mobility and storing energetic electrons, please explorewww.electrovaya.com.

AboutCanadian Solar Inc.

Founded in 2001 inCanada,Canadian Solar Inc.(NASDAQ: CSIQ) is one of the
world's largest and foremost solar power companies. As a leading vertically
integrated provider of solar modules, specialized solar products and solar
power plants with operations inNorth America, South America,Europe,Africa,
theMiddle East,AustraliaandAsia,Canadian Solarhas delivered more than
6GW of premium quality solar modules to customers in over 70
countries.Canadian Solaris committed to improve the environment and
dedicated to provide advanced solar energy products, solutions and services to
enable sustainable development around the world. For more information, please
visitwww.canadiansolar.com.

For more information, please contact:
Electrovaya Inc.
Telephone: 905.855.4618
Email: ir@electrovaya.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 next generation 2.0
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", "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", including in particular from pages 37 to 38, 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.

CONTACT: Electrovaya Inc.

         Telephone: 905.855.4618

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