Electrovaya Launches New Line of Lithium-Ion Battery Systems for Class III Material Handling Vehicles

Rhea-AI Summary

Electrovaya (NASDAQ:ELVA) launched the Infinity lithium-ion battery systems for Class III walkie pallet jack material handling vehicles, offered in 108 Ah (2.8 kWh) and 162 Ah (4.1 kWh) capacities with pack widths of 5.5" to 9" and onboard chargers of 650W or 1200W.

The product line aims to let customers precisely configure batteries to application needs; Electrovaya will display a walkie pallet jack battery at MODEX 2026 in booth #B11411.

Positive

• Two capacity options: 108 Ah (2.8 kWh) and 162 Ah (4.1 kWh)
• Charger choices: onboard 650W or 1200W chargers
• Flexible form factors: pack widths from 5.5" to 9"
• Expanded product portfolio for Class III material handling vehicles
• MODEX demo scheduled at booth #B11411, aiding customer exposure

Negative

• None.

Argus Apr 13 session

+3.15% close to close Open Argus

Details

News Market Reaction – ELVA

On Apr 13, the day this news came out, ELVA closed 3.15% above the previous close.

Data tracked by StockTitan Argus for the Apr 13 session.

Market Context

This announcement introduces new Infinity lithium-ion battery systems tailored for Class III walkie ...

Analysis

This announcement introduces new Infinity lithium-ion battery systems tailored for Class III walkie pallet jacks, with capacities of 108 Ah (2.8 kWh) and 162 Ah (4.1 kWh) and multiple charger options. It extends Electrovaya’s presence in material handling, echoing earlier moves such as UL 2580 certification and a $10.5 million order for Infinity systems. Investors may watch how this product family converts into purchase orders and how it complements ongoing DOE-backed and industrial initiatives.

Key Figures

Battery capacity: 108 Ah (2.8 kWh) Battery capacity: 162 Ah (4.1 kWh) Battery width range: 5.5" to 9" +5 more

Battery capacity

108 Ah (2.8 kWh)

Infinity pack for walkie pallet jacks

Battery capacity

162 Ah (4.1 kWh)

Larger Infinity pack for walkie pallet jacks

Battery width range

5.5" to 9"

Physical widths offered for new packs

Charger power option

650W

Onboard charger rating per pack

Charger power option

1200W

Higher-power onboard charger option

Current price

$8.26

Pre-news market context

52-week range

$2.2494–$11.88

Low and high before this announcement

Market cap

$405,443,428

Equity value prior to news

Historical Context

5 past events · Latest: Apr 02

5 events

1. Apr 02

   DOE project partnership

   24h Move

   -1.0%

   Participation in DOE-funded 1.2 MWh data center battery system project.

2. Mar 10

   Safety certification

   24h Move

   +5.3%

   First UL 2580 certification for six high-voltage battery system models.

3. Mar 02

   AGM results

   24h Move

   +2.1%

   Shareholders approved directors, auditors, option increase, and U.S. domestication.

4. Feb 26

   Investor webcast

   24h Move

   +1.7%

   Announcement of March 5, 2026 webcast on strategy and technology.

5. Feb 24

   Large purchase order

   24h Move

   +9.6%

   Approx. $10.5M Infinity battery orders from Fortune 500 U.S. customer.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

lithium-ion battery, material handling vehicles, onboard charger

3 terms

lithium-ion battery technical

"Electrovaya Inc., a leading lithium-ion battery technology and manufacturing company, today..."

A lithium-ion battery is a rechargeable energy cell that stores and releases power by moving lithium ions between two electrodes, like a pump moving water back and forth to hold and deliver energy. Investors care because these batteries power electric vehicles, portable electronics and grid storage, so factors such as cost, energy density, lifespan, and raw-material supply directly affect manufacturing costs, product competitiveness and long-term company profits.

material handling vehicles technical

"Infinity battery systems for application in walkie pallet jacks... Class III Material Handling Vehicles..."

Material handling vehicles are the machines and carts—like forklifts, pallet jacks, small electric trucks or automated robots—that move, lift and store goods inside factories, warehouses and shipping yards. Investors care because these vehicles directly affect how fast and cheaply a company can process orders: higher productivity or newer automation can lower costs, reduce delays, and change capital spending and maintenance needs, all of which influence profitability and cash flow.

onboard charger technical

"Each pack includes an onboard charger offered in either 650W or 1200W."

An onboard charger is the electrical device built into an electric vehicle that converts the household or public alternating current (AC) from a charging station into the direct current (DC) the battery needs, similar to the power adapter inside a laptop that lets it charge from a wall outlet. Investors care because its size, efficiency, cost and charging speed affect a vehicle’s price, customer appeal, manufacturing complexity and supplier margins, all of which influence revenue and profitability.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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New product family that will power "Walkie Pallet Jack" Class III Material Handling Vehicles will be on display at MODEX 2026

TORONTO, ON / ACCESS Newswire / April 13, 2026 / Electrovaya Inc. ("Electrovaya" or the "Company") (NASDAQ:ELVA)(TSX:ELVA), a leading lithium-ion battery technology and manufacturing company, today announces the launch of Infinity battery systems for application in walkie pallet jacks. Walkie pallet jacks are ubiquitous across distribution centers, warehouses, manufacturing plants, and retail stores.

The walkie pallet jack battery line features two capacities, a 108 Ah (2.8 kWh) and a larger 162 Ah (4.1 kWh) pack, available in widths ranging from 5.5" to 9". Each pack includes an onboard charger offered in either 650W or 1200W. The combination of multiple battery sizes and charger options allows for precise configuration to match specific application needs.

"With this product line launch, our material handling equipment battery portfolio is further enhanced, positioning us to offer a complete and unified solution to our customers," said Jeremy Dang, Vice President of Business Development at Electrovaya.

Electrovaya will showcase a walkie pallet jack battery at MODEX 2026 in booth #B11411.

Investor and Media Contact:     

Jason Roy
VP, Corporate Development and Investor Relations
Electrovaya Inc.
jroy@electrovaya.com
905-855-4618

About Electrovaya Inc.

Electrovaya Inc. (NASDAQ: ELVA; TSX: ELVA) is a technology-driven lithium-ion battery company commercializing its proprietary Infinity Battery Technology, designed for superior safety, longevity, and performance in mission-critical industrial, robotics, defense and energy-storage applications. The Company leverages a strong intellectual-property portfolio and advanced materials expertise to deliver durable, high-value battery solutions to global OEMs and end users. To support growing demand and advancing energy-security and national-security objectives, Electrovaya is expanding U.S. manufacturing through its 52-acre Jamestown, New York site, which includes a 137,000-square-foot facility planned as its first gigafactory. Electrovaya also operates two Canadian sites focused on research, engineering, and product commercialization. For more information, please visit www.electrovaya.com.

Forward-Looking Statements

This press release contains forward-looking statements, including statements that relate to, among other things, revenue, purchase orders, the potential for additional purchase orders from the described customer in CY 2026, order growth and customer demand FY and CY 2026, walkie pallet jack products, the demand for walkie pallet jack battery systems, future business opportunities, and the ability to deliver to customer requirements. Forward-looking statements can generally, but not always, be identified by the use of words such as "may", "will", "could", "should", "would", "likely", "possible", "expect", "intend", "estimate", "anticipate", "believe", "plan", "planned", "objective", "estimated" and "continue" (or the negative thereof) and words and expressions of similar import. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, assumptions and analyses made by the Company in light of the experience and perception of historical trends, current conditions and expected future developments and other factors it believes are appropriate are necessarily applied in making forward looking statements and such statements are subject to risks and uncertainties, therefore actual results may differ materially from those expressed or implied in such statements and undue reliance should not be placed on such statements. Material assumptions made in disclosing the forward-looking statements included in this news release include, but are not limited to assumptions that the Company's customers will deploy its products in accordance with communicated timing and volumes, that the Company's customers will complete new distribution centers in accordance with communicated expectations, intentions and plans, and stable political climate with respect to exports from Canada to the United. Factors that could cause actual results to differ materially from expectations include but are not limited to customers not placing roughly in accordance with historical ordering patterns and communicated intentions, the fact that the expected additional sales from the described customer are expressions of interest and not yet purchase orders, the uncertain effects of the imposition of a new tariff regime on Canadian exports by the United States, macroeconomic effects on the Company and its business and on the lithium battery industry generally, the Company's liquidity and cash availability in excess of its operational requirements, and the ability to generate and sustain sales orders. Additional information about material factors that could cause actual results to differ materially from expectations and about material factors or assumptions applied in making forward-looking statements may be found in the Company's Annual Information Form for the year ended September 30, 2025 under "Risk Factors", in the Company's base shelf prospectus dated September 17, 2024, and in the Company's most recent annual and interim Management's Discussion and Analysis under "Qualitative And Quantitative Disclosures about Risk and Uncertainties" as well as in other public disclosure documents filed with Canadian securities regulatory authorities. The Company does not undertake any obligation to update publicly or to revise any of the forward looking statements contained in this document, whether as a result of new information, future events or otherwise, except as required by law.

SOURCE: Electrovaya, Inc.

View the original press release on ACCESS Newswire

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What are the capacity options for Electrovaya's Infinity walkie pallet jack batteries (ELVA)?

Direct answer: Electrovaya offers two Infinity battery capacities: 108 Ah (2.8 kWh) and 162 Ah (4.1 kWh). According to Electrovaya, these sizes support varied duty cycles and help match runtime needs across distribution centers, warehouses, and manufacturing facilities.

Which onboard charger options are available for ELVA Infinity battery packs and why it matters?

Direct answer: Infinity packs include onboard chargers in 650W or 1200W variants. According to Electrovaya, the charger choices let operators balance charge speed and infrastructure limits, enabling tailored charging strategies for different shift patterns and facilities.

When and where will Electrovaya display the new walkie pallet jack battery (ELVA)?

Direct answer: Electrovaya will showcase the walkie pallet jack battery at MODEX 2026 in booth #B11411. According to Electrovaya, the MODEX demonstration provides an opportunity for customers and partners to view configurations and discuss application fit.

How do Infinity pack form factors support different equipment for ELVA customers?

Direct answer: Infinity batteries come in widths from 5.5" to 9" to fit various walkie pallet jack frames. According to Electrovaya, the range of pack widths enables precise mechanical fit and easier retrofits across common material handling vehicle models.

Will Electrovaya's new Infinity line change its material handling product offering (ELVA)?

Direct answer: Electrovaya says the Infinity launch enhances its material handling portfolio, enabling a more unified solution for customers. According to Electrovaya, the product line broadens configuration options and positions the company to address more walkie pallet jack use cases.