Montreal, Quebec – Targray is pleased to announce that it has signed an exclusive distribution partnership with Litarion GmbH (Litarion), a leading German EV electrode manufacturer and wholly owned subsidiary of Electrovaya Inc. (TSX: EFL), to supply coated cathode and anode electrodes to North American li-ion battery manufacturers. Additionally a US$16M (CAD $23M) contract for Electrovaya-Litarion’s cells was received. This purchase order is effective immediately and will extend through January 2017.
Targray’s partnership with Electrovaya-Litarion will cement the company’s presence as a single source for a tremendous range of li-ion battery materials and components, easily accessible by North American manufacturers seeking a streamlined, cost-effective distribution channel. Targray also has the ability to tailor its coated electrode offerings per customer requests, meeting demands that pertain to size, loading, thickness/density, choice of active materials and substrates, and continuous stripes or pattern geometry.
In working with Electrovaya-Litarion to provide coated cathode and anode electrodes, Targray will also gain the ability to meet the unique specifications of its customers by tailoring critical variables, including geometry, weight, thickness, materials and substrates, and width, among others.
Partnership Focused on Meeting Needs in Energy Storage Industry
“Targray remains committed to the battery industry and the needs of customers within it. We’re excited to be able to offer not only some of the highest quality li-ion battery materials in the world, from a leading supplier, but also a bevy of customization and specification options that are critical to our varied customers,” said Andrew Richardson, President of Targray.
Electrovaya-Litarion coated electrodes exhibit an extraordinary set of performance properties, including outstanding cycle life (even at full depth of discharge), superior energy density and high power capability. Thanks to serial production—certified ISO 9001 and ISO/TS 16949—Targray is able to consistently meet the demands of customers through Electrovaya-Litarion’s standardization of quality. The result, post-application, is a better class of product.
“Working with Targray to expand our distribution channels worldwide—particularly into North America—is a great opportunity for Electrovaya-Litarion and one that we’re looking forward to exploring moving forward,” said Dr. Andre Mecklenburg, Chief Operating Officer at Electrovaya-Litarion. “Targray shares our same values in offering fair and balanced distribution opportunities—we’re pleased to be moving forward in a partnership that’s sure to benefit the battery industry as a whole.”
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