Electrovaya Announces Excellence Award From NASA

Business Wire, June 2, 2004

Business Editors/High-Tech Writers

TORONTO--(BUSINESS WIRE)--June 2, 2004

Electrovaya Inc. (TSX:EFL) (www.electrovaya.com), a world leader in lithium ion SuperPolymer(R) battery technology, is pleased to announce the "Recognition of Excellence" award from NASA (National Aeronautics and Space Administration - Johnson Space Center) Extravehicular Activities (EVA) Office.

This award was given to Dr. James K. Jacobs, Chief Technology Officer of Electrovaya for his leadership and excellence in Electrovaya's program with NASA's EVA office.

Glenn Lutz, Deputy Manager of the EVA Office said "We were extremely impressed with the ability and innovativeness of Electrovaya and the superior technical support brought by Dr. Jacobs and the Electrovaya team." Mr. Lutz continued "the high degree of expertise has made a significant difference in the relationship and project progress to date."

"We are delighted and honored by this award from NASA," said Dr. Jacobs. "We are developing an unique facility and the capability to produce aerospace quality cells and batteries with proper version control." Dr. Jacobs adds "We believe such a capability will be a resource for the whole aerospace industry."

About Electrovaya Inc.

Electrovaya's goal is to become the leading provider of tablet PC's, portable power for the notebook computer and wireless sectors, and to apply its technology to a broad spectrum of alternative energy applications including aerospace, UPS, stand-by power and zero emission vehicles. It develops, manufactures and sells high value products globally using its award winning patented proprietary lithium ion SuperPolymer(R) rechargeable battery technology, which delivers the highest energy density of any commercially available rechargeable battery technology on the market today. Electrovaya has designed, developed and markets the SCRIBBLER Tablet PC which offers significantly longer run time than any other Tablet PC currently available. The Company's shares trade on the Toronto Stock Exchange under the symbol EFL. For more information about the Company and its products, please visit www.electrovaya.com.

Forward-Looking Statements

This news release may contain forward-looking statements that involve a number of risks and uncertainties, including statements regarding the outlook for the Company's business and results of operations. Risks are outlined in the Company's Annual Report for the year ending September 30, 2003 and are set forth in public disclosure documents filed with Canadian regulatory authorities. By nature, these risks and uncertainties could cause actual results to differ materially from those indicated. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.