Electrovaya Inc.

Hello, and welcome to Electrovia's fourth quarter and year-end 2021 Financial Results Analyst Conference Call. At this time, all participants are in listen-only mode. A question and answer session will follow the formal presentation. As a reminder, this conference is being recorded. It's now my pleasure to turn the call over to Richard Halka, Executive Vice President and CFO for Electrovia. Please go ahead, sir.

Thank you very much, Kevin. Good morning, everyone, and thank you for joining us on today's conference call to discuss Electrovia's Q4 and fiscal 2021 financial results. Today's call is being hosted by Dr. Shankar Dasgupta, CEO of Electrovia, and myself, Richard Holka, Executive Vice President and CFO. On December 20, 2021, Electrovia issued a press release concerning its business highlights, financial results for the three- and 12-month Period ended September 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, management discussion and analysis, and annual information form, or AIF, you can access those documents on the CEDAR website at www.cedar.com. As with previous calls, our comments today are subject to normal provision related to forward-looking information. We will provide information relating to our current views regarding trends in our markets, including their size and potential for growth, and our competitive position in our target markets. Although we believe that the 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 annual and fourth quarter results. And the most recent AIF and management discussion and analysis under risk and uncertainties, as well as in other public disclosure documents filed with Canadian securities regulatory authorities. Also, please note that all numbers discussed on this call are in U.S. 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'd like to start this morning and highlight some of ElectroVaya's initiatives and our progress. We had revenues of about Canadian $14.8 million or U.S. $11.6 million, which is excellent considering that a new OEM corporate sales team took over the OEM sales space from our earlier OEM distribution team, and there was Always a learning time gap between the two teams, building new websites, training new sales, and marketing teams. Ultimately, we believe the corporate team has more resources with higher reach and will do much better. Furthermore, the chip and component shortage in the auto industry and COVID also impacted our revenues. In the coming year, we are expecting our sales revenue to more than double to about US dollars 27 million or Canadian 34 million. The revenue is anticipated to be generated from both direct sales and OEM sales. The OEM Strategic Supply Agreement has an exclusivity provision which is triggered starting 1st January 2022, where the OEM must make annual purchases of over US $15 million to maintain exclusivity. And we believe they will be able to maintain their exclusivity. The users of our batteries are a wide and diverse group, including groceries, eat retailers, manufacturers, logistics, hardware stores, distribution centers, amongst others. And the market is expanding and emerging. Our second significant item this year was on financing. We had applied for a base shelf of US $100 million, which allows flexible financing. We have extended our working capital line and our two principal promissory notes. Richard will explain more of our financial highlights later. Technically, we believe the most important advantage Electrovia has over our competition is a truly exceptional battery with industry-leading safety and longevity. Our battery cycle life and safety are critical differentiators for us. We believe they are game changers and fundamental to our current and future success. Safety is the key important technological differentiator as OEMs in recent years have major vehicle recalls due to battery safety incidents, all costing several billions of dollars. Unsafe batteries in electric mobility are expensive to recall. The longevity of our battery is industry leading and we have named this line as our infinity battery product line. This infinity battery product line meets the demand from commercial users who not only needs the safest battery but also the lowest cost on a holistic basis. Our infinity line fulfills both these requirements. We believe commercial electric mobility applications such as electric materials handling vehicles, electric buses, and electric trucks needs the safety and longevity performance of the Electrovia battery. I will now turn the call over to Richard to review our fiscal 2021 and fourth quarter results in greater detail. Richard.