Electrovaya Announces Commencement of Jamestown Battery Manufacturing Facility Capital Purchases and Hiring
Electrovaya Inc. has initiated capital investments and hiring for its Jamestown battery manufacturing facility, aiming to start battery assembly by Q2 2025. The company is acquiring manufacturing and testing equipment and engaging in engineering work to facilitate future cell manufacturing. Increasing demand for its lithium-ion products for electrified applications drives Electrovaya’s expansion in the U.S. […]
Electrovaya Inc. Closes US$11.1 million Public Offering of Common Shares
Electrovaya Inc. has successfully completed a public offering of 5,175,000 common shares at $2.15 per share, generating approximately $11.1 million in gross proceeds. Roth Capital Partners led the offering, with Raymond James Ltd. and Craig-Hallum Capital Group acting as co-managers. The proceeds will be used for loan conditions related to the Export-Import Bank, repaying existing […]
Electrovaya Inc. Closes Full Exercise of Over-Allotment Option for an Additional US$1.7 Million
Electrovaya Inc., a leader in lithium-ion battery technology, announced its public offering of 5,175,000 common shares at $2.15 each, generating approximately $11.1 million. Following the exercise of an over-allotment option, an additional 776,250 shares were sold, bringing total proceeds to approximately $12.8 million. The funds will be used to meet loan conditions with the Export-Import […]
Electrovaya Inc. Announces Pricing of US$11.1 Million Public Offering of Common Shares
Electrovaya Inc. (NASDAQ: ELVA; TSX: ELVA), a lithium-ion battery technology leader, has priced its public offering of 5,175,000 common shares at $2.15 each, aiming to raise approximately $11.1 million before expenses. Roth Capital Partners is the lead manager, with an additional 776,250 shares available through an over-allotment option. Proceeds will fund cash collateral for a […]
UL2580 Recognition for Electrovaya’s Lithium Iron Phosphate Infinity Cell
Electrovaya Inc. announced that its Infinity Series Lithium Ion Phosphate (LFP) cells have achieved UL2580 recognition, confirming their safety and reliability for electric vehicles. This certification signifies compliance with stringent safety standards, including external fire tests. The company’s LFP cells will be produced alongside its NMC cells at a planned facility in Jamestown, New York. […]
Electrovaya Inc. Announces Proposed Public Offering of Common Shares and Files Preliminary Prospectus Supplement
Electrovaya Inc. (NASDAQ: ELVA; TSX: ELVA) has initiated an underwritten public offering of its common shares, with all shares offered by the Company. This offering will be conducted in the U.S. under an effective shelf registration statement and in Canada, excluding Québec. Proceeds will fund cash collateral conditions for a loan from the Export-Import Bank […]
Electrovaya Reports Fiscal Year 2024 Results
Electrovaya Inc. reported a revenue of $44.6 million and $4 million in adjusted EBITDA for FY 2024, marking its sixth consecutive quarter of positive EBITDA. The company achieved historic cash flow from operations and improved gross margins of 30.7%. A $51 million loan from the Export-Import Bank of the U.S. will support a manufacturing facility […]
Electrovaya Announces date for Q4 and FY-2024 Financial Results & Conference Call
Electrovaya Inc. (Nasdaq: ELVA, TSX: ELVA) will release its fourth quarter and fiscal year results for the period ending September 30, 2024, on December 12, 2024, after market close. A conference call featuring CEO Dr. Raj DasGupta and CFO John Gibson will take place at 5:00 p.m. ET to discuss the results and provide a […]
Electrovaya To Host Investor Webcast on December 5, 2024
Electrovaya Inc. (NASDAQ:ELVA, TSX:ELVA), a lithium-ion battery technology company, will host an investor webcast on December 5, 2024, at 2:00 pm EST, led by CEO Dr. Raj DasGupta and CFO John Gibson. Investors can register for the live event, which includes a Q&A session. The company, headquartered in Ontario, Canada, focuses on developing safe, long-lasting […]
Electrovaya Receives Purchase Orders for Batteries from Fortune 500 Customer for Re-Powering Two Existing Distribution Centers
Electrovaya Inc. has secured a purchase order worth $4.1 million for lithium-ion batteries from a leading Fortune 500 retailer in the U.S. This order marks the beginning of the retailer’s fleet conversion strategy, with plans for four additional sites. Electrovaya’s batteries will power material handling electric vehicles in two existing warehouses. Dr. Jeremy Dang, Vice […]