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Electrovaya, Inc. - ELVA STOCK NEWS

Welcome to our dedicated news page for Electrovaya (Ticker: ELVA), a resource for investors and traders seeking the latest updates and insights on Electrovaya.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Electrovaya's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Electrovaya's position in the market.

Rhea-AI Summary
Electrovaya Inc. increases its credit facility by C$6 million to C$22 million, with potential to expand to C$26 million, to support working capital needs for sales and production growth. The term has been extended to July 29, 2025, aiming to meet revenue targets and address purchase order backlog.
Rhea-AI Impact
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End-of-Day
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Rhea-AI Summary
Electrovaya Inc. reported $0.6 million in Adjusted EBITDA, with improved gross margins and reaffirmed fiscal 2024 guidance of $65 to $75 million. Revenue for Q1 FY2024 was $12.1 million, a 41% increase from Q1 FY2023. The company is making progress in reaching a new debt facility and project financing goals for its gigafactory build out.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.65%
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Rhea-AI Summary
Electrovaya Inc. (ELVA) will release its first quarter financial results on February 12, 2024, followed by a conference call to discuss the results and provide a business update. The call will be presented by CEO, Dr. Raj DasGupta and CFO, John Gibson. Investors and media can access the replay for two weeks after the call.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.17%
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earnings
Rhea-AI Summary
Electrovaya Inc. (ELVA) announces CEO's participation in iAccess Alpha Tax Loss Recovery Summit Virtual Conference. Dr. Raj DasGupta to deliver a company presentation and host one-on-one meetings on January 9th and 10th, 2024.
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Rhea-AI Sentiment
End-of-Day
14.37%
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conferences
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Rhea-AI Summary
Electrovaya Inc. (ELVA) reports over $3.2 million in Adjusted EBITDA and an Operating Profit of $1.2 million for Fiscal 2023, with a Two-year Revenue CAGR of 100%. The company expects continued strong growth into Fiscal 2025 and beyond supported by new high voltage battery system product lines and anticipated capacity expansion.
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Rhea-AI Sentiment
End-of-Day
6.11%
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earnings
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Rhea-AI Summary
Electrovaya Inc. (ELVA) to Release Q4 and FY2023 Financial Results and Host Conference Call with CEO and CFO
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.63%
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earnings
Rhea-AI Summary
Electrovaya Inc. (NASDAQ: ELVA) (TSX: ELVA) announces the first shipment of its Infinity-HV battery systems to a global aerospace company, targeting heavy-duty, high-voltage applications. The new products offer industry-leading safety and longevity, with plans for mass production at the Company's facility in Jamestown, NY.
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End-of-Day
4.81%
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Rhea-AI Summary
Electrovaya Inc. (NASDAQ:ELVA)(TSX:ELVA) has been awarded the Clean Technology award as part of Deloitte's Technology Fast 50 program for its industry-leading lithium-ion battery technology. The company's Infinity Battery technology offers significantly improved safety and longevity, making it a top clean innovator in Canada. This recognition highlights Electrovaya's success in commercializing its technology and its commitment to decarbonizing high duty cycle applications such as material handling, transit, and trucking.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-6.12%
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Rhea-AI Summary
Electrovaya Inc. announced a battery purchase order valued at over US$8 million from a leading Fortune 100 company in the United States for material handling electric vehicles. This represents over $12 million in purchases by this customer over the last 12 months. The company anticipates this customer could become their third largest user for material handling electric vehicles.
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Rhea-AI Sentiment
End-of-Day
5.38%
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Rhea-AI Summary
Electrovaya Inc. has announced a Strategic Supply Agreement with two leading OEM partners for the supply of battery systems. The three-year agreement includes larger minimum purchases and adds a new large OEM partner and affiliates. The battery systems will utilize the latest Electrovaya Infinity Battery Technology NMC-Ceramic based systems and provide a full integration with the OEM's vehicles. Electrovaya expects to significantly expand its list of global customers with this new agreement.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
17.19%
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Electrovaya, Inc.

Nasdaq:ELVA

ELVA Rankings

ELVA Stock Data

138.42M
19.39M
34.56%
11.67%
0.2%
Storage Battery Manufacturing
Manufacturing
Link
Canada
Mississauga