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March 23rd, 2010
Battery innovator Electrovaya Inc. got a high-profile boost Monday from Chrysler Group LLC and the automaker's former chief executive.
Shares in the Mississauga-based company climbed as much as 25 per cent after the maker of lithium-ion battery systems announced Thomas LaSorda, former president and CEO of Chrysler, had joined the Ontario firm's board and is working as strategic adviser to its founder and CEO, Sankar Das Gupta.
Its core product is a lithium-ion superpolymer battery that claims high energy densities that are ideal for electric cars and grid storage. The company also boasts a nanotechnology-based manufacturing process that, unlike many of its rivals, doesn't rely on toxic solvents.
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