Electrovaya: powering the way to a cleaner, greener future

Exceptional talent and access to markets in Ontario help keep the company at the forefront of lithium-ion battery development production

For twenty-five years, Electrovaya has maintained a clear focus on contributing to the prevention of climate change. The Mississauga-based company designs, develops and manufactures proprietary lithium-ion batteries, battery systems and battery-related products for energy storage, clean electric transportation and other applications.

A pioneer in the industry, with a reputation for supplying the safest and longest-lasting lithium-ion batteries on the market, Electrovaya is celebrating a quarter of a century in business by doing what it’s done from the start: releasing an innovative product and inking a lucrative deal with a new customer.

The new product is EVISION, a remote, cloud-based monitoring system that tracks battery performance in real-time in Electrovaya-powered applications, including lift trucks and electric buses. The result is optimized fleet and charging management—and improved troubleshooting and maintenance. And, from all reports, it’s been a hit.

The new customer is Vicinity Motor Corp, a leading North American supplier of electric vehicles (EVs) for both public and commercial use. Founder and CEO William Trainer chose Electrovaya’s best-in-class battery system for its “superior life cycle performance” and “strong safety standards.”

To top it off, the company also launched a new operating division in 2021, Electrovaya Labs, which will focus on research, development and commercialization of some of its fundamental technologies and intellectual property. A key area of focus is the development of a solid-state battery, which Electrovaya believes will be critical to the future of EVs. Located at the Sheridan Science and Technology Park in Mississauga, close to the company’s headquarters, Electrovaya Labs will use laboratories in the facility and work with some of the scientists and engineers on site.

“R&D is at the core of our success,” says Jason Roy, Electrovaya’s Director of Investor Relations & Communications. “This arrangement is going to help us accelerate advances, not only by using our own talented R&D staff, but also by tapping into the expertise of the research team working at Sheridan. At the same time, it will help us lower the cost of doing R&D.”

Ontario offers an exceptional talent pool

About 25% of Electrovaya’s staff work in research and development. Primarily chemical, mechanical and electrical engineers make up the team. They come from Canadian universities, including the University of Toronto and the University Waterloo, which are internationally renowned for their engineering programs. Ontario universities produce a steady pipeline of well-educated and skilled talent who think outside the box. And that’s vital for a company like Electrovaya that depends on its ability to innovate continuously.

To find talent that’s the right fit, Electrovaya often partners with Mitacs, a non-profit national research organization that connects post-doctoral candidates with companies needing their expertise. Mitacs contributes $15,000 in funding for each four-month internship, with companies providing $7,500.

“It’s a win-win,” says Roy. “The post-docs get real-world experience in a business setting, and it’s an excellent way for us to see first-hand what the best and brightest young scientists can do—and how they might fit into the company and contribute to our success.”

Free trade agreements are also an advantage

With free trade agreements, such as CUSMA, CETA and CPTPP, in force with 50 countries, Ontario offers seamless free trade with the world’s leading battery and EV manufacturing countries.

For Electrovaya, with contract manufacturers and customers all over the world, that’s a big benefit. “Having no trade tariffs is very important to a company like ours that exports,” says Roy. “And, it will become more important as we grow the business.”

What’s next for Electrovaya?

“Battery technology is always evolving,” says Roy. “We’re very excited about our prospects for getting out in front in the solid-state battery market.

“And we’re also looking at expanding our energy storage markets and moving into the aerospace and maritime markets.”

It seems that trailblazing is in Electrovaya’s DNA.

Learn more about Ontario’s unique automotive ecosystem.