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. develops and manufactures lithium-ion battery systems built around its proprietary Infinity Battery Technology for mission-critical industrial, robotics, defense and energy-storage applications. Recurring announcements cover battery systems for material-handling vehicles, including walkie pallet jacks and high-voltage platforms, as well as customer purchase orders through OEM channels and product safety certifications such as UL 2580.
The company also reports quarterly financial results, investor webcasts, annual meeting outcomes and technology-development work for energy-storage uses such as data centers. Its updates describe U.S. manufacturing expansion at its Jamestown, New York site and Canadian activities focused on research, engineering and product commercialization.
Electrovaya Inc. (NASDAQ/TSX: ELVA), a lithium-ion battery technology and manufacturing company, has appointed Prof. Donald R. Sadoway to its Board of Directors. Sadoway, Professor of Materials Chemistry Emeritus at MIT's Department of Materials Science and Engineering, brings extensive expertise in battery technology and materials science.
Prof. Sadoway, named one of Time magazine's 100 Most Influential People in 2012, has authored over 180 scientific papers and holds 42 U.S. patents. His research focuses on batteries for grid-scale storage and electric vehicles, as well as environmentally sound metals extraction technologies. He is a co-founder of six companies including Ambri, Boston Metal, and Pure Lithium.
Electrovaya (NASDAQ/TSX: ELVA) announced its CEO Dr. Raj DasGupta will participate in a panel discussion on Strengthening Domestic Manufacturing at the Export-Import Bank of the United States (EXIM) 2025 Annual Conference in Washington DC on April 29-30.
The company recently secured a US$50.8 million direct loan from EXIM under the 'Make More in America' initiative to fund its battery manufacturing expansion in Jamestown, New York. The facility will produce Electrovaya's proprietary Infinity lithium-ion ceramic cells, known for their longevity and safety, responding to rapidly increasing demand from heavy duty and mission critical electrified applications.
Electrovaya (NASDAQ:ELVA) has secured a new US$8.7 million purchase order from a Fortune 500 retailer for lithium-ion batteries to power material handling electric vehicles across three warehouse sites. This follows a US$4.1 million order received in December 2024 for two distribution centers from the same customer.
The Fortune 500 retailer has been one of Electrovaya's largest battery users since 2022, with nearly 1,500 batteries currently in operation. The customer plans to continue its fleet conversion strategy with additional distribution centers scheduled for battery replacement in 2025 and 2026.
Electrovaya (NASDAQ/TSX: ELVA), a lithium-ion battery technology and manufacturing company, held its 2024 Annual General Meeting on March 28th, 2025 in Toronto. All proposed resolutions received shareholder approval.
The shareholders elected six directors to the board with overwhelming support, each receiving over 97% approval votes with less than 3% withheld. The elected directors are Dr. Sankar Das Gupta, Dr. Raj Das Gupta, Dr. James Jacobs, Dr. Carolyn Hansson, Mr. Kartick Kumar, and Mr. Steven Berkenfeld. Additionally, MNP LLP was re-appointed as the company's auditors.
Electrovaya (NASDAQ/TSX: ELVA) has secured a new US$7.3 million purchase order through its OEM sales channel for lithium-ion batteries. The order comes from a Fortune 100 e-commerce company for powering material handling electric vehicles in multiple distribution centers across the United States and Canada.
This follows a previous US$3.5 million order from November 2024, with additional site orders expected later in 2025. The end customer will have over 2,000 Infinity batteries deployed across more than 40 distribution centers in three countries spanning two continents.
Electrovaya (NASDAQ/TSX: ELVA) has secured a US$20 million credit facility from Bank of Montreal (BMO) Corporate Finance, featuring a three-year term and a US$5 million expansion option. The senior secured asset-based lending facility includes:
- Lower interest rates and fees, reducing capital costs
- Support for both US and Canadian operations
- Ancillary credit products for foreign currency hedging and credit cards
- Access to United States Export-Import Bank (EXIM) financing for Jamestown manufacturing investments
The facility aims to strengthen Electrovaya's financial position and support its growth plans in lithium-ion battery technology and manufacturing. According to CEO Dr. Raj Das Gupta, this agreement will improve working capital access while enabling vertical integration of battery manufacturing in the United States.
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.