Electrovaya Ranked as the Seventh Fastest Growing Technology Company in Canada

Business Wire, Oct 6, 2005

TORONTO -- 2005 Deloitte Canadian Technology Fast 50 Winners

Electrovaya Inc. (TSX:EFL) a world leader in the field of portable power solutions, has been ranked as the Seventh Fastest growing technology company in Canada, according to the 2005 Deloitte Canadian Technology Fast 50. This annual technology award program is based on the percentage of growth in fiscal year revenues over last five years, and reflects the growing demand and increasing market acceptance of Electrovaya's patented and award winning Lithium Ion SuperPolymer(R) battery technology and products.

"Electrovaya is honored to be recognized as one of Canada's Fastest Growing Technology Companies by Deloitte," says Dr. Sankar DasGupta, CEO of Electrovaya.

About Electrovaya:

Electrovaya is a world leader in the field of portable power solutions with its award-winning, patented Lithium Ion SuperPolymer(R) battery technology. Its goal is to become the leading provider of Tablet PCs, the premier supplier of portable power for aerospace and wireless sectors, and the principal technology champion in the development of alternative energy applications including UPS, stand-by power and zero-emission vehicles.

For more information about Electrovaya and its products, please visit: www.electrovaya.com

Electrovaya Inc. (TSX:EFL)