EFLVF - EFLVF STOCK NEWS

Electrovaya Inc. (TSX:EFL, OTCQB:EFLVF) announced that its e-forklift batteries have shown negligible degradation of approximately 1% after four years of heavy usage at a Fortune 100 company's distribution center. This indicates strong performance and supports the company's projection of a million-mile battery with a lifespan exceeding 10 years. The batteries match power consumption levels equivalent to 192,000 miles in four years, compared to typical electric car warranties of 100,000 miles. Electrovaya aims to enhance battery technology further with ongoing upgrades.

Electrovaya Inc. (TSX:EFL, OTCQB:EFLVF) announced that all resolutions presented at its 2022 Annual and Special Meeting on March 25, 2022, were approved by shareholders. Over 98% of votes supported the election of five directors: Dr. Sankar Das Gupta, Dr. Bejoy Das Gupta, Dr. Carolyn Hansson, Dr. James K. Jacobs, and Mr. Kartick Kumar. Additionally, the resolution to amend the stock option plan passed with 97.51% in favor. Goodman & Associates LLP was re-appointed as the company’s auditors.

Electrovaya Inc. will hold its annual and special meeting for shareholders on March 25, 2022, at 4:00 p.m. at its head office in Mississauga, ON. In light of COVID-19, physical attendance is discouraged, and shareholders are encouraged to vote by proxy. Voting instructions have been provided to registered and beneficial owners. The meeting will not be virtual, but an audio-only webinar will be available for shareholders to listen in. The company will present a corporate update post-meeting.

Electrovaya Inc. (TSX:EFL)(OTCQB:EFLVF) will showcase its lithium-ion ceramic technology at MODEX 2022, taking place from March 28-31, 2022, in Atlanta, GA. The company manufactures high-performance batteries that enhance safety and longevity, currently powering thousands of Material Handling Electric Vehicles and Automated Guided Vehicles. Attendees are invited to visit booth B6651 to learn more about Electrovaya's solutions for sectors including manufacturing, e-commerce, and logistics.

Electrovaya Inc. (TSX:EFL)(OTCQB:EFLVF), a leader in lithium-ion battery manufacturing, has provided a business update emphasizing its innovative Infinity battery platform, which prioritizes safety and longevity. The company reported growing demand from existing clients, with over 80 distribution centers using its products. Despite facing supply chain challenges, it achieved a 100% on-time delivery rate in 2022. Electrovaya is planning to establish a manufacturing facility in the U.S. to enhance production capacity and reduce lead times.

Electrovaya Inc. (TSX:EFL, OTCQB:EFLVF), a leader in lithium-ion battery manufacturing, is set to participate in the Water Tower Research Fireside Chat on March 11, 2022, at 11:00 am EST. CEO Sankar DasGupta will discuss the company's innovative Infinity lithium-ion battery platform. Investors and media can register for the live webcast through a provided link, with a replay available on Electrovaya's event page. Electrovaya focuses on developing safe and long-lasting lithium-ion batteries to combat climate change, with proprietary designs for energy storage and clean transportation.

Electrovaya Inc. announced an increase in its credit facility from C$7 million to C$11 million to support sales growth.

The maturity of C$6 million promissory notes has been extended to December 21, 2022, with a renewal fee of C$400,000 paid in shares. The company aims for 130% revenue growth for the 2022 fiscal year, barring unforeseen circumstances. The CFO expressed satisfaction with the non-dilutive financing, highlighting its potential to enhance operational capabilities.

Electrovaya Inc. (TSX:EFL)(OTCQB:EFLVF) is set to participate in the Water Tower Research Fireside Chat on February 17, 2022, at 2:00 PM EST. COO Raj DasGupta will discuss the company’s lithium-ion and solid-state battery platforms as well as growth strategies. All investors can register for the live webcast here. A replay will be available on Electrovaya's event page. The company, based in Ontario, Canada, focuses on developing innovative battery solutions powered by significant intellectual property.

Electrovaya Inc. (TSX:EFL) maintains revenue guidance of $27 million for fiscal 2022 despite reporting Q1 FY2022 revenue of $1.3 million, down from $2.6 million in Q1 FY2021. Gross margins declined to 29% from 32% due to increased costs. The company received $6 million in orders from a Fortune 100 client for electric vehicle batteries. Challenges persist from global supply chain issues but management is taking action to mitigate impacts. A conference call regarding these results is scheduled for February 15, 2022.