Electrovaya Receives the Make More in America Deal of the Year Award at Export-Import Bank of the United States' 2025 Annual Conference
Electrovaya has been awarded the Make More in America Deal of the Year Award at the Export-Import Bank of the United States' (EXIM) 2025 Annual Conference. The recognition comes for their commitment to bringing lithium-ion battery manufacturing to the U.S.
The company received a $51 million direct loan from EXIM in November 2024 to support their Jamestown, New York facility's construction and equipment procurement. This expansion will:
- Support approximately 290 U.S. jobs
- Reshore critical production from overseas competitors
- Enable battery cell and module production previously made in China
CEO Raj DasGupta highlighted strong interest in U.S.-manufactured products and plans for rapid production scaling. The project aligns with EXIM's China and Transformational Exports Program, supporting domestic manufacturing and economic security.
Electrovaya ha ricevuto il premio Make More in America Deal of the Year durante la Conferenza Annuale 2025 della Export-Import Bank degli Stati Uniti (EXIM). Il riconoscimento premia il loro impegno nel portare la produzione di batterie agli ioni di litio negli Stati Uniti.
Nel novembre 2024, l'azienda ha ottenuto un prestito diretto di 51 milioni di dollari da EXIM per sostenere la costruzione e l'acquisto di attrezzature per il loro stabilimento di Jamestown, New York. Questa espansione permetterà di:
- Supportare circa 290 posti di lavoro negli Stati Uniti
- Riportare in patria produzioni critiche precedentemente affidate a concorrenti esteri
- Consentire la produzione di celle e moduli di batterie che prima venivano realizzati in Cina
Il CEO Raj DasGupta ha sottolineato il forte interesse per i prodotti fabbricati negli USA e i piani per una rapida crescita della produzione. Il progetto è in linea con il programma EXIM China and Transformational Exports, che sostiene la produzione nazionale e la sicurezza economica.
Electrovaya ha sido galardonada con el premio Make More in America Deal of the Year en la Conferencia Anual 2025 del Export-Import Bank de los Estados Unidos (EXIM). Este reconocimiento destaca su compromiso de traer la fabricación de baterías de iones de litio a Estados Unidos.
En noviembre de 2024, la compañía recibió un préstamo directo de 51 millones de dólares de EXIM para apoyar la construcción y adquisición de equipos en su planta de Jamestown, Nueva York. Esta expansión permitirá:
- Apoyar aproximadamente 290 empleos en Estados Unidos
- Repatriar producción crítica que antes estaba en manos de competidores extranjeros
- Permitir la producción de celdas y módulos de baterías que anteriormente se fabricaban en China
El CEO Raj DasGupta destacó el gran interés en productos fabricados en EE.UU. y los planes para una rápida ampliación de la producción. El proyecto está alineado con el programa EXIM China and Transformational Exports, que apoya la manufactura nacional y la seguridad económica.
Electrovaya는 미국 수출입은행(EXIM)의 2025년 연례 회의에서 Make More in America Deal of the Year 상을 수상했습니다. 이 상은 리튬이온 배터리 제조를 미국 내로 유치하려는 그들의 노력을 인정한 것입니다.
회사는 2024년 11월 EXIM으로부터 5,100만 달러 직접 대출을 받아 뉴욕 주 제임스타운 공장 건설 및 장비 구매를 지원받았습니다. 이번 확장은 다음과 같은 효과를 가져올 것입니다:
- 미국 내 약 290개의 일자리 지원
- 해외 경쟁사에서 수행하던 핵심 생산의 국내 복귀
- 이전에 중국에서 생산되던 배터리 셀 및 모듈 생산 가능
CEO 라지 다스굽타는 미국산 제품에 대한 강한 관심과 빠른 생산 확대 계획을 강조했습니다. 이 프로젝트는 EXIM의 중국 및 변혁적 수출 프로그램과 일치하며 국내 제조업과 경제 안보를 지원합니다.
Electrovaya a reçu le prix Make More in America Deal of the Year lors de la conférence annuelle 2025 de la Export-Import Bank des États-Unis (EXIM). Cette distinction récompense leur engagement à relocaliser la fabrication de batteries lithium-ion aux États-Unis.
En novembre 2024, l'entreprise a obtenu un prêt direct de 51 millions de dollars d'EXIM pour soutenir la construction et l'acquisition d'équipements de son site de Jamestown, New York. Cette expansion permettra de :
- Soutenir environ 290 emplois aux États-Unis
- Ramener en local des productions critiques auparavant confiées à des concurrents étrangers
- Permettre la production de cellules et modules de batteries auparavant fabriqués en Chine
Le PDG Raj DasGupta a souligné l'intérêt marqué pour les produits fabriqués aux États-Unis et les plans d'augmentation rapide de la production. Ce projet s'inscrit dans le cadre du programme EXIM China and Transformational Exports, qui soutient la fabrication nationale et la sécurité économique.
Electrovaya wurde auf der Jahrestagung 2025 der Export-Import Bank der Vereinigten Staaten (EXIM) mit dem Make More in America Deal of the Year Award ausgezeichnet. Die Anerkennung erfolgt für ihr Engagement, die Herstellung von Lithium-Ionen-Batterien in die USA zu bringen.
Im November 2024 erhielt das Unternehmen einen direkten Kredit in Höhe von 51 Millionen US-Dollar von EXIM zur Unterstützung des Baus und der Beschaffung von Ausrüstung für seine Anlage in Jamestown, New York. Diese Erweiterung wird:
- Etwa 290 Arbeitsplätze in den USA sichern
- Kritische Produktion von ausländischen Wettbewerbern zurückholen
- Die Produktion von Batteriezellen und -modulen ermöglichen, die zuvor in China gefertigt wurden
CEO Raj DasGupta hob das große Interesse an in den USA hergestellten Produkten sowie Pläne für eine schnelle Produktionssteigerung hervor. Das Projekt steht im Einklang mit EXIMs China and Transformational Exports-Programm, das die heimische Fertigung und wirtschaftliche Sicherheit unterstützt.
- Received $51M EXIM direct loan for US manufacturing facility expansion
- Creating 290 new US jobs through manufacturing expansion
- Reshoring critical battery production from China to US
- Significant customer interest reported for US-manufactured products
- Recognition through Make More in America Deal of the Year Award
- Currently dependent on Chinese manufacturing for battery cells and modules
- Significant capital expenditure required for facility construction and equipment
Insights
Electrovaya secures $51M EXIM loan for US manufacturing expansion, strategically reshoring battery production from China with government backing.
The $51 million EXIM loan approval represents a significant non-dilutive capital injection for Electrovaya, enabling the company to establish substantial lithium-ion battery manufacturing operations in Jamestown, NY. This financing structure preserves existing shareholder value while providing necessary capital for growth, avoiding equity dilution that would typically accompany an expansion of this magnitude.
The strategic decision to reshore production from China aligns perfectly with current U.S. policy priorities regarding critical supply chains and energy security. This positioning likely enhances Electrovaya's competitive standing for future government contracts and partnerships, particularly as domestic content requirements become increasingly important in procurement decisions.
The transaction's projected creation of 290 U.S. jobs demonstrates the meaningful economic impact beyond pure corporate strategy. More importantly, the company's statement about witnessing "significant interest for its U.S.-manufactured products" suggests strong market demand awaiting this expanded capacity.
Particularly noteworthy is this project's inclusion under EXIM's China and Transformational Exports Program, which specifically targets reshoring critical technologies. The government recognition through this prestigious award validates Electrovaya's strategic direction and potentially strengthens its relationships with federal agencies controlling substantial funding streams in the clean energy sector.
This vertical integration of battery cell and module production in the U.S. potentially creates significant operational efficiencies by reducing logistics costs, minimizing supply chain disruptions, and accelerating innovation cycles by bringing R&D and manufacturing closer together.
TORONTO, ON / ACCESS Newswire / April 30, 2025 / Electrovaya Inc. (NASDAQ:ELVA)(TSX:ELVA), a leading lithium-ion battery technology and manufacturing company, announces that it has received the Make More in America Deal of the Year Award today at the Export-Import Bank of the United States' (EXIM) 2025 Annual Conference in recognition of the company's demonstrated commitment to onshoring critical lithium ion battery manufacturing to the U.S.
With manufacturing in Jamestown, New York, Electrovaya is a dynamic business, specializing in the development and manufacturing of lithium-ion batteries for a variety of applications. In November 2024, the Board of Directors of EXIM approved a nearly
"EXIM remains committed to the expansion of domestic exports and rebuilding of a resilient stateside critical minerals supply chain," said Acting President and Chairman Jim Cruse. "The financing we were able to provide Electrovaya further underscores our dedication to supporting American businesses while enhancing U.S. manufacturing and reinforcing the country's economic security."
"EXIM's support has been instrumental in accelerating Electrovaya's growth in the U.S. and to support the company's domestic manufacturing plans. Through EXIM's support, Electrovaya will be reshoring considerable production from Asia," said Raj DasGupta, Chief Executive Officer of Electrovaya. "The company is witnessing significant interest for its U.S.-manufactured products and expects to quickly ramp up production. The financing support enables us to expand battery manufacturing, scale production, and bring our safe, long-lasting lithium-ion technology to more customers." The expansion of the manufacturing facility will allow Electrovaya to produce battery cells and modules which are currently produced in China, and therefore also falls under EXIM's China and Transformational Exports Program.
About EXIM
The Export-Import Bank of the United States (EXIM) is the nation's official export credit agency with the mission of supporting American jobs by facilitating U.S. exports. To advance American competitiveness and assist U.S. businesses as they compete for global sales, EXIM offers financing including export credit insurance, working capital guarantees, loan guarantees, and direct loans. As an independent federal agency, EXIM contributes to U.S. economic growth by supporting tens of thousands of jobs in exporting businesses and their supply chains across the United States. Learn more at www.exim.gov.
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 pioneering leader in the global energy transformation, focused on contributing to the prevention of climate change by supplying safe and long-lasting lithium-ion batteries. The Company has extensive IP and designs, develops and manufactures proprietary lithium-ion batteries and battery systems for energy storage and heavy duty electric vehicles based on its Infinity Battery Technology Platform. This technology offers enhanced safety and industry leading battery longevity. The Company is also developing next generation solid state battery technology at its Labs division. Headquartered in Ontario, Canada, Electrovaya has two operating sites in Canada and has acquired a 52-acre site with a 135,000 square foot manufacturing facility in New York state for its planned gigafactory. To learn more about Electrovaya, please explore www.electrovaya.com.
SOURCE: Electrovaya, Inc.
View the original press release on ACCESS Newswire
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