Electrovaya, Inc. has announced a significant development, securing an additional purchase order valued at approximately US$4.2 million. This order comes from an existing cold storage logistics operator in the United States, further solidifying a partnership that has already seen over US$13 million in purchases from this client. The new batteries will be utilized to power material handling electric vehicles across the operator’s facilities.
Currently, the end user operates six facilities that are equipped with Electrovaya’s advanced Infinity Battery Technology. Dr. Jeremy Dang, Vice President of Business Development at Electrovaya, expressed enthusiasm about this repeat order. He noted, “This customer values leading-edge technology solutions and has been one of the largest users of our batteries since 2023. We expect continued plans to provide power solutions to existing and new facilities.”
Electrovaya Inc. is a prominent player in the lithium-ion battery technology sector, focusing on creating innovative and sustainable solutions to combat climate change. The company designs, develops, and manufactures proprietary lithium-ion batteries and battery systems for energy storage and heavy-duty electric vehicles, all built on its Infinity Battery Technology Platform, which is known for its enhanced safety and industry-leading battery longevity.
In addition to its current operations in Canada, Electrovaya is expanding its footprint with plans for a gigafactory in New York state, situated on a 52-acre site that includes a 135,000 square foot manufacturing facility.
For further inquiries, interested parties can reach out to Jason Roy, VP of Corporate Development and Investor Relations at Electrovaya, at 905-855-4618 or via email at jroy@electrovaya.com.
This announcement also includes forward-looking statements concerning potential revenue, future purchase orders, and customer demand. While the company believes that its expectations are reasonable, various factors could lead to actual results differing from those anticipated. These factors include uncertainties in customer ordering patterns, macroeconomic conditions, and the company’s ability to sustain sales orders. For additional details, stakeholders are encouraged to review the Company’s Annual Information Form and other public disclosure documents filed with Canadian securities regulatory authorities.
Electrovaya does not commit to updating any forward-looking statements unless required by law.
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