Electrovaya Provides a Shareholder Update including Unaudited Preliminary FY2024 Annual Financial Results and Positive Outlook for 2025
Electrovaya Inc. projects an unaudited FY2024 revenue of approximately $45 million with a 31% gross margin, alongside expectations for operating profit and improved adjusted EBITDA. For FY2025, revenue is anticipated to exceed $60 million, driven by renewed demand from major end users. The US EXIM Bank has approved a $51 million direct loan to support […]
Electrovaya Receives Follow On Orders for High Voltage Battery Systems from Global Aerospace and Defense Company Following Extensive Testing
Electrovaya Inc. announced a follow-on order for its Infinity-HV battery systems from a global aerospace and defense company, highlighting their strong performance in extensive testing for mission-critical off-road applications. CEO Dr. Raj DasGupta emphasized the product’s ability to meet extreme requirements, showcasing exceptional reliability. The Infinity-HV systems cater to heavy-duty, high-voltage applications, including defense and […]
The Export-Import Bank of the United States (EXIM) Approves a direct loan in the amount of $50.8 million to fund Electrovaya’s Jamestown Lithium-Ion Battery Expansion
Electrovaya Inc. has secured a $50.8 million loan from the Export-Import Bank of the United States (EXIM) to support its Jamestown Battery Manufacturing Facility under the Make More in America initiative. This funding will cover equipment, engineering, and setup costs for producing Electrovaya’s proprietary lithium-ion ceramic cells, known for their longevity and safety. The facility […]
Electrovaya Receives US$3.5 million Order for Batteries for Use by Existing Fortune 100 Customer
Electrovaya Inc. has received a $3.5 million purchase order for its lithium-ion batteries from a leading Fortune 100 e-commerce company in the U.S. and Australia. This customer, the largest global user of Electrovaya’s batteries, operates over 30 warehouse locations using these batteries in material handling electric vehicles. Dr. Jeremy Dang, VP of Business Development, expressed […]
Electrovaya named one of Canada’s Clean Technology winners in Deloitte’s Technology Fast 50TM program
Electrovaya Inc., a leading lithium-ion battery manufacturer, has received a Clean Technology award for the second consecutive year in Deloitte’s 2024 Technology Fast 50 program. This category honors Canada’s top clean innovators focused on reducing environmental impacts. CEO Dr. Raj DasGupta highlighted the success of their Infinity Battery technology, recognized for its longevity and safety. […]
Electrovaya to Attend Two Investor Conferences
Electrovaya Inc. (NASDAQ:ELVA, TSX:ELVA), a leader in lithium-ion battery technology, announced participation in two upcoming conferences. CEO Dr. Raj DasGupta will attend the 15th Annual Craig-Hallum Alpha Select Conference on November 19, 2024, in New York, focusing on 1×1 meetings. The company will also be present at the UBS Global Industrials & Transportation Conference from […]
Electrovaya Receives Funding from the Government of Canada
Electrovaya Inc. has secured C$2 million in funding from the Government of Canada through FedDev Ontario. This investment aims to enhance automation and capacity at its Mississauga manufacturing facility, boosting production of its Infinity Lithium Ion Battery technology for various applications, including robotics and electric vehicles. CEO Dr. Raj DasGupta emphasized the funding’s role in […]
Electrovaya and Innovative Rail Technologies Enter into Strategic Supply Agreement for the Supply of Battery Systems for Electric Rail Applications
Electrovaya Inc. has entered a Strategic Supply Agreement with Innovative Rail Technologies, LLC (IRT) to provide its Infinity battery systems for IRT’s full electric locomotives. This partnership focuses on electrifying locomotives for various applications, including industrial operations and commuter rail. IRT’s advanced lithium-ion adaptive system enhances performance and compliance with local regulations. Both companies emphasize […]
Electrovaya Receives Initial Purchase Orders from Global Japanese Construction Equipment Manufacturer
Entry into a new market sector of construction vehicles and new geographical market of Japan Electrovaya Inc. (“Electrovaya” or the “Company”)(NASDAQ: ELVA; TSX: ELVA.TO), a lithium ion battery technology and manufacturing company, today announced the receipt of its first purchase orders for pre-production battery modules to be provided to a global Japanese headquartered manufacturer of […]
Electrovaya Reports Third Quarter FY2024 Financial Results
Continued gross margin growth, Revenue of $10.3 million, Adjusted EBITDA1 of $0.6 million. Progress in meeting strategic financing objectives including refinancing existing working capital facilities and in negotiations with a US federal agency with regards to financing planned Jamestown, New York lithium-ion battery manufacturing facility Electrovaya Inc. (“Electrovaya” or the “Company”)(Nasdaq: ELVA, TSX: ELVA), a […]