Welcome to our dedicated page for Electrovaya news (Ticker: ELVA), a resource for investors and traders seeking the latest updates and insights on Electrovaya stock.
Electrovaya Inc. (NASDAQ: ELVA, TSX: ELVA) generates frequent news as a lithium-ion battery technology and manufacturing company focused on its proprietary Infinity Battery Technology. News coverage for ELVA often highlights developments in energy storage, clean electric transportation, heavy duty electric vehicles, industrial equipment, robotics, defense and other mission-critical applications that use the company’s batteries and systems.
On this page, readers can follow Electrovaya news related to financial performance, technology milestones and strategic initiatives. Recent press releases have included record fiscal-year results with the company’s first reported profitable year, updates on revenue growth, and details about equity offerings and credit facilities used to support manufacturing expansion, research and development, and recurring-revenue programs such as energy-as-a-service and aftermarket services.
ELVA news also covers technology and product updates, such as new battery solutions for robotics, airport ground support equipment, stationary energy storage systems and heavy industrial equipment. The company has reported progress on rapid-charging architectures, next-generation ceramic separators and solid-state battery development at its Labs division, as well as certifications and new product platforms for high-intensity applications.
Investors and followers of Electrovaya can also find announcements about the build-out of its Jamestown, New York manufacturing facility, the establishment of Electrovaya Japan to support customers and partners in Japan, and participation in industry and investor conferences. This news feed provides a centralized view of company announcements, allowing users to track how Electrovaya is executing on its manufacturing, commercialization and technology roadmap over time.
Electrovaya (NASDAQ/TSX: ELVA) has secured a US$50.8 million direct loan from the Export-Import Bank of the United States (EXIM) to expand its battery manufacturing operations in Jamestown, New York. This funding, part of EXIM's 'Make More in America' initiative, combined with a $20 million BMO credit facility and $12 million equity capital, provides over $80 million for U.S. expansion.
The six-year loan includes one year of interest-only payments followed by five years of interest and principal payments, with an expected interest rate between 6-7% annually. The proceeds will fund $46.4 million for manufacturing and $5.3 million for construction and engineering.
The Jamestown facility, powered by renewable hydro electricity, will produce Infinity lithium-ion ceramic cells and is expected to create over 250 jobs. Commercial shipments are anticipated to begin in 2026, with battery system assembly starting in Q2 2025. The facility will support exports to Japan, Canada, and Australia while strengthening U.S. lithium-ion battery supply chains.
Electrovaya (NASDAQ/TSX: ELVA), a lithium ion battery technology company, has secured new orders from a second global Japanese construction equipment OEM through its partnership with Sumitomo Power & Mobility (SCPM). The orders are for high-voltage battery systems that will be delivered to Japan in 2025.
The orders were placed under Electrovaya's existing Supply Agreement with SCPM, a subsidiary of Sumitomo The battery systems will be utilized by a leading Japanese construction equipment manufacturer for their vehicle project.
CEO Dr. Raj DasGupta highlighted the company's growing presence in the Japanese market and expansion into new verticals, emphasizing their competitive advantages in safety and cycle life for heavy-duty electrified applications.
Electrovaya (NASDAQ/TSX: ELVA) has secured an additional US$4.2 million battery order from an existing cold storage logistics operator in the United States through its OEM sales channel. The batteries, featuring Electrovaya's Infinity Battery Technology, will power material handling electric vehicles.
The customer, who currently operates six facilities using Electrovaya's battery solutions, has made total purchases exceeding $13 million. The end user plans to expand battery deployment to both existing facilities and new construction sites, demonstrating strong customer retention and potential for future growth.
Electrovaya (NASDAQ/TSX: ELVA) has announced an accelerated timeline for its battery system manufacturing operations in Jamestown, New York, with startup now scheduled for April 2025. The company has already begun investing in assembly and testing equipment and is expanding its local workforce.
This battery system assembly operation represents the first phase of Electrovaya's broader U.S. manufacturing investment plan, which encompasses both lithium-ion cells and battery systems. The total investment for this initial phase is expected to exceed $70 million, utilizing the company's 52-acre campus that includes an existing 137,000 square feet industrial building.
The Jamestown facility is set to become Electrovaya's largest manufacturing site, with significant staffing and capital investments planned. The company aims to establish itself as one of the few independent lithium-ion battery manufacturers in the United States, responding to increasing demand for its products in heavy-duty and mission-critical electrified applications.
Electrovaya (NASDAQ:ELVA) reported Q1 2025 financial results with revenue of $11.2 million, slightly down from $12.1 million in Q1 2024. The company achieved a gross margin of 30.5%, improving by 130 basis points year-over-year, and marked its seventh consecutive quarter of positive Adjusted EBITDA at $0.6 million.
Key developments include securing a $50.8 million EXIM direct loan approval for U.S. manufacturing expansion in Jamestown, New York, and completing a $12.8 million equity offering. The company strengthened its balance sheet with working capital of $12.6 million and cash position of $8.2 million.
Electrovaya plans to commence commercial operations at its Jamestown facility in April 2025 and reaffirmed its fiscal 2025 revenue guidance exceeding $60 million, supported by strong demand from material handling customers and OEM partners.
Electrovaya Inc. (Nasdaq:ELVA)(TSX:ELVA), a lithium-ion battery technology and manufacturing company, has scheduled the release of its first quarter financial results for the period ending December 31, 2024. The results will be released after market close on Thursday, February 13, 2025.
The company will host a conference call at 5:00 p.m. EST on the same day, featuring CEO Dr. Raj DasGupta and CFO John Gibson, who will discuss the financial results and provide a business update. The call will be accessible via toll-free number 888-506-0062 (International: 973-528-0011) with participant code 253979.
A replay will be available for two weeks from February 13 to February 27, 2025, accessible at 877-481-4010 and 919-882-2331 with passcode 51997.
Electrovaya (NASDAQ/TSX: ELVA) has initiated capital investments for its planned Jamestown battery manufacturing facility and begun hiring personnel. The company has started placing purchase orders for battery system assembly equipment and awarded engineering work for future cell manufacturing investments. Operations are targeted to commence by Q2 2025.
The initial investments aim to establish battery system assembly capabilities, responding to increasing demand for the company's products in heavy-duty and mission-critical electrified applications. This expansion of manufacturing operations in the United States is a key priority for Electrovaya as they progress with detailed planning for larger capital investments in lithium-ion cell manufacturing activities.
Electrovaya Inc. (NASDAQ/TSX: ELVA) has successfully completed the full exercise of its over-allotment option, resulting in the sale of an additional 776,250 common shares at US$2.15 per share, generating extra gross proceeds of US$1.67 million. Combined with the previously completed public offering of 5,175,000 shares, the total offering reached 5,951,250 shares, bringing aggregate gross proceeds to US$12.8 million.
The company plans to use the net proceeds to meet conditions for a loan from the Export-Import Bank of the United States, repay existing working capital facility amounts ahead of proposed bank refinancing, and settle outstanding amounts related to its Jamestown, New York manufacturing facility purchase.
Electrovaya Inc. (NASDAQ:ELVA)(TSX:ELVA) has completed its public offering of 5,175,000 common shares at US$2.15 per share, raising gross proceeds of approximately US$11.1 million. Roth Capital Partners served as the sole book-running manager, with Raymond James and Craig-Hallum Capital Group as co-lead book-running managers. The company granted Roth a 45-day over-allotment option for up to 776,250 additional shares. The proceeds will be used to satisfy Export-Import Bank loan conditions, repay existing working capital facility, and cover costs related to the Jamestown, New York manufacturing facility purchase.
Electrovaya (Nasdaq/TSX: ELVA) announced that its Infinity Series Lithium Iron Phosphate (LFP) cells have achieved UL2580 recognition, a globally recognized safety standard for rechargeable lithium-ion batteries in electric vehicles. The certification includes passing stringent tests like the external fire test (projectile test), demonstrating exceptional safety and reliability.
The company's NMC-based cells had previously achieved the same certification. Both LFP and NMC cells will be manufactured at Electrovaya's planned facility in Jamestown, New York. CEO Dr. Raj DasGupta emphasized the company's commitment to delivering safe and reliable battery solutions for energy storage and electric vehicle applications.