Electrovaya Receives Additional US$4.2 Million Battery Order for Existing Cold Storage Operator
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) ha ottenuto un ulteriore ordine di batterie da 4,2 milioni di dollari USA da un operatore esistente di logistica per il freddo negli Stati Uniti attraverso il suo canale di vendita OEM. Le batterie, che utilizzano la tecnologia Infinity Battery di Electrovaya, alimenteranno veicoli elettrici per la movimentazione dei materiali.
Il cliente, che attualmente gestisce sei strutture utilizzando le soluzioni di batterie di Electrovaya, ha effettuato acquisti totali superiori a 13 milioni di dollari. L'utente finale prevede di espandere l'uso delle batterie sia nelle strutture esistenti che nei nuovi cantieri, dimostrando una forte fidelizzazione del cliente e potenziale di crescita futura.
Electrovaya (NASDAQ/TSX: ELVA) ha asegurado un pedido adicional de baterías de 4.2 millones de dólares estadounidenses de un operador existente de logística de almacenamiento en frío en los Estados Unidos a través de su canal de ventas OEM. Las baterías, que cuentan con la tecnología Infinity Battery de Electrovaya, impulsarán vehículos eléctricos para el manejo de materiales.
El cliente, que actualmente opera seis instalaciones utilizando las soluciones de baterías de Electrovaya, ha realizado compras totales que superan los 13 millones de dólares. El usuario final planea expandir el uso de baterías tanto en las instalaciones existentes como en nuevos sitios de construcción, lo que demuestra una fuerte retención de clientes y potencial para el crecimiento futuro.
Electrovaya (NASDAQ/TSX: ELVA)는 미국의 기존 냉장 물류 운영자로부터 420만 달러의 추가 배터리 주문을 확보했습니다. 이 주문은 OEM 판매 채널을 통해 이루어졌습니다. Electrovaya의 인피니티 배터리 기술을 특징으로 하는 이 배터리는 자재 취급 전기 차량에 전원을 공급할 것입니다.
현재 Electrovaya의 배터리 솔루션을 사용하는 6개의 시설을 운영 중인 고객은 총 구매 금액이 1300만 달러를 초과했습니다. 최종 사용자는 기존 시설과 새로운 건설 현장 모두에 배터리 배치를 확장할 계획이며, 이는 강력한 고객 유지와 미래 성장 가능성을 보여줍니다.
Electrovaya (NASDAQ/TSX: ELVA) a sécurisé une commande de batterie supplémentaire de 4,2 millions de dollars américains d'un opérateur de logistique de stockage à froid existant aux États-Unis par le biais de son canal de vente OEM. Les batteries, qui intègrent la technologie Infinity Battery d'Electrovaya, alimenteront des véhicules électriques pour la manutention de matériaux.
Le client, qui exploite actuellement six installations utilisant les solutions de batteries d'Electrovaya, a effectué des achats totalisant plus de 13 millions de dollars. L'utilisateur final prévoit d'étendre le déploiement des batteries dans ses installations existantes ainsi que sur de nouveaux chantiers, démontrant ainsi une forte fidélisation de la clientèle et un potentiel de croissance future.
Electrovaya (NASDAQ/TSX: ELVA) hat einen zusätzlichen Batterieauftrag über 4,2 Millionen US-Dollar von einem bestehenden Betreiber für Kaltlagerlogistik in den Vereinigten Staaten über seinen OEM-Vertriebskanal gesichert. Die Batterien, die mit der Infinity Battery Technology von Electrovaya ausgestattet sind, werden elektrische Fahrzeuge für die Materialhandhabung antreiben.
Der Kunde, der derzeit sechs Einrichtungen mit den Batterielösungen von Electrovaya betreibt, hat insgesamt mehr als 13 Millionen Dollar ausgegeben. Der Endbenutzer plant, den Einsatz von Batterien sowohl in bestehenden Einrichtungen als auch auf neuen Baustellen auszudehnen, was eine starke Kundenbindung und Potenzial für zukünftiges Wachstum zeigt.
- New US$4.2M battery order secured
- Strong customer retention with over $13M in total purchases from single client
- Customer expansion potential with planned deployment to new facilities
- Established presence in 6 facilities with same customer
- None.
Repeat order represents over
TORONTO, ON / ACCESS Newswire / March 4, 2025 / Electrovaya Inc. ("Electrovaya" or the "Company") (NASDAQ:ELVA)(TSX:ELVA), a leading lithium-ion battery technology and manufacturing company, today announced it has received a purchase order through its OEM sales channel valued at approximately US
"We are delighted to share news of a repeat order with this end user," said Dr. Jeremy Dang, Vice President of Business Development at Electrovaya. "This customer values leading edge technology solutions and has been one of the largest users of our batteries since 2023. We expect continued plans to provide power solutions to existing and new facilities."
Investor and Media, please 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. 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.
Forward-Looking Statements
This press release contains forward-looking statements, including statements that relate to, among other things, revenue, purchase orders, the potential for additional purchase orders from the described customer in CY 2025, order growth and customer demand in FY 2025, future business opportunities, and the ability to deliver to customer requirements. 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", "planned", "objective", "estimated" 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, assumptions and analyses made by the Company in light of the experience and perception of historical trends, current conditions and expected future developments and other factors it believes are appropriate are necessarily applied in making forward-looking statements and such statements are subject to risks and uncertainties, therefore actual results may differ materially from those expressed or implied in such statements and undue reliance should not be placed on such statements. Material assumptions made in disclosing the forward-looking statements included in this news release include, but are not limited to assumptions that the Company's customers will deploy its products in accordance with communicated timing and volumes, that the Company's customers will complete new distribution centers in accordance with communicated expectations, intentions and plans, and stable political climate with respect to exports from Canada to the United. Factors that could cause actual results to differ materially from expectations include but are not limited to customers not placing roughly in accordance with historical ordering patterns and communicated intentions, the fact that the expected additional sales from the described customer are expressions of interest and not yet purchase orders, the uncertain effects of the imposition of a new tariff regime on Canadian exports by the United States, macroeconomic effects on the Company and its business and on the lithium battery industry generally, 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, 2023 under "Risk Factors", in the Company's base shelf prospectus dated September 17, 2024, 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.
View the original press release on ACCESS Newswire
FAQ
What is the value of Electrovaya's (ELVA) latest battery order in March 2024?
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What will Electrovaya's (ELVA) batteries be used for in these cold storage facilities?
