Electrovaya Inc.

Hello, and welcome to ElectroBias Q3 Fiscal 2021 Financial Results Analyst Conference Call and Webcast. At this time, all participants are in listen-only mode. If anyone should require operator assistance, please press star zero on your telephone keypad. A question and answer session will follow the formal presentation. For those on the web that would like to participate, you must dial in 877-407-8222. to participate in the Q&A session. As a reminder, this conference is being recorded. It's now my pleasure to turn the call over to Executive Vice President and CFO, Richard Halka. Please go ahead, sir.

Thank you, Kevin. Good morning, everyone, and thank you for joining us on today's conference call to discuss ElectroVIA's Q3 fiscal year 2021 third quarter financial results. Today's call is being hosted by Dr. Shankar Dasgupta, CEO of Electrovia, myself, Richard Halka, Executive Vice President and CFO, and we'll be joined in the question period by Dr. Raj Dasgupta, Chief Operating Officer of Electrovia. On August 9th, 2021, Electrovia issued a press release concerning its business highlights and financial results for the third and nine-month period ended June 30, 2021. If you would like a copy of the release, you can access it on our website. If you want to view our financial statements and management discussion and analysis, you can access those documents on the SADAR website at www.sadar.com. As with previous calls, our comments today are subject to the normal provisions relating to forward-looking information. We will provide information relating to our current views regarding trends in our market, including their size and potential for growth, and our competitive position in our target markets. Although we believe those expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and actual results may differ materially from those expressed or implied in such statements. Additional information about factors that could cause actual results to differ materially from expectations and about material factors or assumptions applied in making forward-looking statements may be found in the company's press release announcing the fiscal 2021 third quarter results and the most recent annual information form and management discussion and analysis under risks and uncertainties. as well as in other public documents filed with the Canadian Securities Regulatory Authorities. Also, please note that all the numbers discussed on this call are in US dollars, unless otherwise noted. And now I'd like to turn the call over to Dr. Shankar Dasgupta. Shankar?

Thank you, Richard, and good morning, everyone. I would like to start this morning by taking a minute to review Electrobias Q3 financial progress and Richard will go over it in details later on. Our balance sheet strengthened quite nicely with current assets going down, current assets going up, liabilities going down and equity deficiency was reduced. Revenue was 1.9 million. There is some quarter-to-quarter changes happening there. Gross margins is in the 30s. And most importantly for us is that the strategic supply agreement, which we signed in December 2020 with the largest OEM, with Raymond Corp., which is a premium electric brand for Toyota, has now started gaining momentum with early adopters and the Fortune 500 folks. If you look back, why is folks like these major corporations teaming up with Electrovire? The differentiation is Electrovire's unique technology. So Electrovire's unique technology gives very high safety in the cells, modules, and batteries, very high longevity and cycle life, and we have a strong IP covering a large number of our products and processes and systems. The other initiative we did in Q3 FY 2021 was starting the Electrovire Labs. This was a new division and it's a research focus for the next generation batteries. The next generation batteries which we have been working on are some very exciting products. We started our chemistry experimental work at the Sheridan Research Facility and the work is continuing on solid state cells. We have filed an interesting patent there. We are making coin cells. fabricated with lithium metal anodes, and interesting results coming out. There is some novel electrode processing technology also being developed. So again, the ElectroVial Labs has been an important area. We are also going after the emerging markets, whether it's the electric materials handling vehicles, electric buses, electric trucks. And the climate change mitigation, the battery is the enabling technology. And yesterday's UN report was quite horrific and suggested we should all move in quickly. So going back to the channels to the market, last quarter we are making good progress in direct sales. And we have picked up a couple of orders from there, and we can see the progress happening on the direct sales side. On the OEM strategic sales side, we of course have been working with Raymond Corp. They signed the agreement in December 2020, and we are gathering momentum for early adopters. They have a return on investment calculator on their website, and it really shows very, very rapid returns in a matter of months for a user. So we are seeing the momentum happening. So Raymond's focus market is, of course, USA and Canada, though through its distribution chain we are seeing orders being placed from Latin America and elsewhere. So the seeding is happening. We are operating in about over 50 sites in North America and we are seeing some early demands coming from Argentina and elsewhere. We are Those who can see the slides would see that we are seeding with a lot of new early adopters, and these early adopters are now in about 50, over 50 sites, and some are fairly large and massive companies. Some are probably the world's largest company public-wise. Some are probably some of the largest companies in the private sector. So we are really pleased that this emerging market, which is a multi-billion dollar market and a very conservative market, if I may say so, is started moving and Electrowire, along with its partner Toyota and Raymond, seems to be leading the charge. I will now turn the call over to Richard to review our fiscal third quarter results in greater details.