03:55 PM EST - Electrovaya Inc. : announced that it has entered into a MOU with a major Asian conglomerate with interests in the automotive, energy, chemical and other business areas globally. The MOU contemplates a relationship that includes: Minority Equity interest in Electrovaya (up to 10%); Marketing and procurement of Electrovaya's Lithium Ion batteries in areas such as energy storage for the grid, smart city, smart grid and other sectors where energy storage is necessary; Joint Venture and equity interest in a lithium Ion battery manufacturing plant in India. Electrovaya Inc.
shares T.EFL are trading up $0.06 at $0.68.
