Cloud-Based System Announcement Sends Battery Maker Soaring

Cloud-Based System Announcement Sends Battery Maker Soaring

By: Tomas Ronolski - News

Wednesday, September 22, 2021

An Ontario-based industrial company just made a major announcement that the company is launching a new cloud-based battery analytics system called EVISION. According to the release, “this new system is cloud-based and is able to track battery operational usage in Electrovaya-powered applications such as lift trucks or electric buses in real time.” Shares of Electrovaya Inc. (TSX:EFL) (OTCQB:EFLVF) rallied on the news.

Electrovaya Inc. designs, develops, and manufactures proprietary lithium ion batteries, battery systems, and battery-related products for energy storage, clean electric transportation and other specialized applications. It is a technology focused company extensive IP. The company generates revenue from the sale of batteries and battery systems.

Traders were bullish on the news as shares shot up to $0.9129/share (+7.60%) at the mid-session high. This move is a continuation of the success this stock has had so far this month as it attempts to continue its breakout from the long term down trend it was in since February. 

Copyright © 2021 All rights reserved. Republication or redistribution of's content is expressly prohibited without the prior written consent of shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Other Penny Stock Movers

Launch to Give Americans Affordable Access to Medications from Canada
Transportation Sends Durable Goods Orders Down for Second Month
Mid-Session Rally Turns Heads
Most Popular
FREE Newsletter

Back to Top