Electrovaya Announces Commencement of Jamestown Battery Manufacturing Facility Capital Purchases and Hiring
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 (NASDAQ/TSX: ELVA) ha avviato investimenti di capitale per la sua pianificata struttura di produzione di batterie a Jamestown e ha iniziato a reclutare personale. L'azienda ha iniziato a effettuare ordini di acquisto per l'attrezzatura di assemblaggio dei sistemi di batterie e ha assegnato lavori di ingegneria per futuri investimenti nella produzione di celle. Le operazioni sono previste per iniziare entro il secondo trimestre del 2025.
Gli investimenti iniziali mirano a stabilire capacità di assemblaggio dei sistemi di batterie, in risposta alla crescente domanda per i prodotti dell'azienda in applicazioni elettrificate per uso intensivo e missioni critiche. Questa espansione delle operazioni di produzione negli Stati Uniti è una priorità chiave per Electrovaya mentre avanzano con la pianificazione dettagliata per investimenti di capitale più consistenti nelle attività di produzione di celle agli ioni di litio.
Electrovaya (NASDAQ/TSX: ELVA) ha iniciado inversiones de capital para su planeada instalación de fabricación de baterías en Jamestown y ha comenzado a contratar personal. La empresa ha comenzado a realizar órdenes de compra para el equipo de ensamblaje de sistemas de baterías y ha adjudicado trabajos de ingeniería para futuras inversiones en la fabricación de celdas. Las operaciones están programadas para comenzar en el segundo trimestre de 2025.
Las inversiones iniciales tienen como objetivo establecer capacidades de ensamblaje de sistemas de baterías, en respuesta a la creciente demanda de los productos de la empresa en aplicaciones electrificadas de uso intensivo y críticas para la misión. Esta expansión de las operaciones de fabricación en los Estados Unidos es una prioridad clave para Electrovaya mientras avanzan con la planificación detallada para inversiones de capital más grandes en actividades de fabricación de celdas de iones de litio.
Electrovaya (NASDAQ/TSX: ELVA)는 계획된 Jamestown 배터리 제조 시설을 위한 자본 투자를 시작하고 인력 채용을 시작했습니다. 이 회사는 배터리 시스템 조립 장비에 대한 구매 주문을 시작했으며, 향후 셀 제조 투자를 위한 엔지니어링 작업을 수여했습니다. 운영은 2025년 2분기에 시작될 예정입니다.
초기 투자는 배터리 시스템 조립 능력을 구축하여, 중장비 및 임무-critical 전기화 응용 프로그램에서 회사 제품에 대한 증가하는 수요에 대응하는 것을 목표로 하고 있습니다. 미국 내 제조 운영 확대는 Electrovaya에게 핵심 우선 사항이며, 리튬 이온 셀 제조 활동을 위한 더 큰 자본 투자에 대한 세부 계획을 진행하고 있습니다.
Electrovaya (NASDAQ/TSX: ELVA) a lancé des investissements en capital pour sa future usine de fabrication de batteries à Jamestown et a commencé à recruter du personnel. L'entreprise a commencé à passer des commandes d'équipement pour l'assemblage de systèmes de batteries et a attribué des contrats d'ingénierie pour de futurs investissements dans la fabrication de cellules. Les opérations devraient commencer au deuxième trimestre 2025.
Les investissements initiaux visent à établir des capacités d'assemblage de systèmes de batteries, en réponse à la demande croissante pour les produits de l'entreprise dans des applications électrifiées critiques et de haute intensité. Cette expansion des opérations de fabrication aux États-Unis est une priorité clé pour Electrovaya alors qu'ils avancent vers une planification détaillée pour des investissements en capital plus importants dans les activités de fabrication de cellules lithium-ion.
Electrovaya (NASDAQ/TSX: ELVA) hat Kapitalinvestitionen für seine geplante Batterieherstellungsanlage in Jamestown initiiert und mit der Rekrutierung von Personal begonnen. Das Unternehmen hat begonnen, Bestellungen für die Ausrüstung zur Montage von Batteriesystemen aufzugeben, und hat Ingenieurarbeiten für zukünftige Investitionen in die Zellherstellung vergeben. Die Betriebsaufnahme ist für das zweite Quartal 2025 angestrebt.
Die anfänglichen Investitionen zielen darauf ab, Montagekapazitäten für Batteriesysteme zu schaffen, um auf die steigende Nachfrage nach den Produkten des Unternehmens in schweren und mission-kritischen elektrifizierten Anwendungen zu reagieren. Diese Expansionsmaßnahme in den USA hat für Electrovaya hohe Priorität, während sie mit der detaillierten Planung größerer Kapitalinvestitionen in die Herstellung von Lithium-Ionen-Zellen voranschreiten.
- Expansion of manufacturing capabilities in the US market
- Progress toward operational readiness by Q2 2025
- Growing demand from heavy-duty and mission-critical applications
- Significant capital expenditure requirements
- Extended timeline to operational status (Q2 2025)
Insights
The commencement of capital investments for Electrovaya's Jamestown facility represents a strategic expansion of U.S. manufacturing capabilities. The initial phase focuses on battery system assembly equipment, with plans for cell manufacturing investments, indicating a phased approach to facility development. The Q2 2025 timeline for starting assembly operations appears achievable given the current procurement stage.
The facility's development aligns with strong market demand for heavy-duty and mission-critical electrified applications. This domestic manufacturing expansion could significantly enhance supply chain efficiency and potentially benefit from various U.S. government incentives, including those under the Inflation Reduction Act. The staged investment approach demonstrates prudent capital allocation while laying groundwork for larger-scale operations.
The strategic positioning of the Jamestown facility represents a important step in establishing a robust North American battery supply chain. By initiating equipment procurement and engineering work simultaneously, Electrovaya is implementing a parallel development strategy that could accelerate time-to-market. The focus on both assembly and future cell manufacturing capabilities suggests a vertically integrated approach, which could provide better control over quality and costs.
The timing is particularly advantageous given the increasing demand for domestic battery production and the current market dynamics favoring U.S.-based manufacturing. This move could potentially reduce logistics costs and lead times while qualifying for various government incentives, enhancing the company's competitive position in the growing energy storage market.
The Company has begun placing initial purchase orders for battery system assembly equipment along with commencing hiring with the goal of starting battery assembly by CY Q2 2025
JAMESTOWN, NY / ACCESSWIRE / January 14, 2025 / Electrovaya Inc. ("Electrovaya" or the "Company") (NASDAQ:ELVA)(TSX:ELVA), a leading lithium-ion battery technology and manufacturing company, is pleased to announce that it has begun making capital investments for its planned Jamestown battery manufacturing facility along with hiring initial personnel. These initial procurements include battery system manufacturing and testing equipment along with awarding engineering work to prepare for further investments pertaining to planned cell manufacturing investments.
These initial investments are meant to provide the Company an ability to start battery system assembly by calendar year Q2 2025. Electrovaya has increasing demand for its products from a wide range of heavy duty and mission critical electrified applications, and it has been a priority of the Company to expand its manufacturing operations in the United States for these vital products.
"We are excited to start these initial investments at our Jamestown facility with the aim of being able to start assembly in the near term" said Dr. Raj DasGupta, CEO of Electrovaya. "We are also making progress with regards to our detailed planning for the larger capital investments associated with the planned lithium ion cell manufacturing activities."
Investor and Media Contact:
Jason Roy
VP, Corporate Development and Investor Relations
Electrovaya Inc.
905-855-4618 / jroy@electrovaya.com
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 without compromising energy and power. The Company has extensive IP and designs, develops and manufactures proprietary lithium-ion batteries, battery systems, and battery-related products for energy storage, clean electric transportation, and other specialized applications. Electrovaya has two operating sites in Canada and a 52-acre site with a 135,000 square foot manufacturing facility in Jamestown New York state for its planned gigafactory. To learn more about how Electrovaya is powering mobility and energy storage, please explore www.electrovaya.com.
Forward-Looking Statements
This press release contains forward-looking statements, including statements that relate to, among other things, revenue, purchase orders, revenue guidance, mass production schedules, ability to deliver to customer requirements and revenue growth forecasts for the fiscal year ending September 30, 2025. 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", "objective" 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, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. Certain material factors and assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements. Statements with respect to the start up time for manufacturing in Jamestown NY, the ability to leverage IRA45X credits, the ability to receive incentives from the state of New York, the ability to improve margins from domestic manufacturing, the ability to attract additional customers through domestic manufacturing, the start up timing for start of production in Jamestown New York. Factors that could cause actual results to differ materially from expectations include but are not limited to macroeconomic effects on the Company and its business, 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, 2024 under "Risk Factors", 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.
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