Electrovaya Inc.

Greetings and welcome to Electrovirus Second Quarter 2022 Financial Results and Analyst Conference Call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. I would now like to turn the call over to Richard Hawkins, Executive Vice President and Chief Financial Officer Thank you. You may begin.

Thank you, Daryl. Good morning, everyone, and thank you for joining us on today's conference call to discuss ElectroVaya's Q2 fiscal 2022 financial results. Today's call is being hosted by Dr. Shankar Dasgupta, Chairman and CEO of ElectroVaya, Dr. Raj Dasgupta, Chief Operating Officer, and myself, Richard Halka, Executive Vice President and CFO. On May 10th, 2022, Electiveye issued a press release concerning its business highlights and financial results for the three and six month period ended March 31st, 2022. If you'd like a copy of the release, you can access it on our website. If you want to view our financial results, our financial statements, management discussion and analysis, and annual information form, you can access those documents on CEDAR website, www.cedar.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 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 and assumptions applied in making forward-looking statements may be found in the company's press release announcing the Q2 fiscal 2022 results and the most recent annual information form and management's 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 Shankar.

Thank you, Richard, and good morning, everyone. The momentum we were anticipating for fiscal year 2022 has started in spite of all the global supply chain issues we continuously hear about. Our March quarter was 47% higher than March 2021. Our purchase orders in hand are now over U.S. dollars 25 million, which is over 31 million Canadian, and we are well on our way to substantial revenue growth over the next half of the year, doubling over last year's revenue and expecting the year to end in the 21 to 25 million range. And Every week, orders from diverse customers keep pouring in. Why? All of the company's five pillars are functioning in unison. The first pillar, technology. Our technology of the Infinity Battery Platform is globally relevant, highest safety, highest longevity, without compromising energy or power. Our technology is our advantage. which has made our OEM partner largest in the world sign the strategic supply agreement with us. The second pillar is producibility. We are powering over 3,000 vehicles today and have the capability in producing thousands of batteries. Producibility is not a risk anymore, although both COVID and supply chain continues to be challenges. Our third pillar, and important to us, is the greenhouse gas reduction. Each of our electric vehicles work usually 24 hours a day, seven days a week, and on an average, about 12 to 16 times longer than an electric passenger car, which means Electrovaya is eliminating greenhouse gases at a rate equivalent to about 50,000 electric cars every year. If I was the policymaker, I would give higher preference for climate change mitigation to these hard-working electric vehicles. Our Infinity battery line has exceedingly good safety and longevity, and is the product going into electric forklifts and later into electric buses and other applications. We were an evangelist in climate change and delighted that finally the world is waking up. If they had woken up sooner, it would have been better for all of us and all other species, but better late than never. The fourth pillar, an important pillar, is the market. It's emerging. This calendar year 2022, every week we're receiving purchase orders and our purchase orders in hand exceed 25 million and we are well on the way to doubling last year's revenue. As I mentioned earlier, we anticipate we'll come in at the 21 to 25 million of revenues by the end of September 2022. The fourth important pillar is finance, finance for growth. We are delighted that our lender is generous enough and confident enough on ElectroVaya that they have increased our line of credit by over 50%, from Canadian $7 million to Canadian $11 million. This is critical oxygen for business growth and great for our shareholders. that we did not have to dilute through an expensive equity raise. We are thankful to our finance partner. And the fifth pillar of the company is our very dedicated people who are passionate in their fight for climate change mitigation. They came to work every day over the last two years of COVID, did not shirk, which they could have easily done. They organized their work and premises carefully and scientifically such that, to my knowledge, there was no workplace COVID transmission. Our battery cycle life and safety, our technology are critical differentiators for us. They are game changers and fundamental to our current and future success. Our addressable market as it emerges is several tens of billions of dollars. and the sophisticated, knowledgeable corporations, the Fortune 500 companies are allowing ElectroVaya to take charge of their mission-critical operations. I'll now turn the call over to Richard to review our fiscal 2022 and second quarter results in greater detail. Richard?