Electrovaya Receives US$3.5 million Order for Batteries for Use by Existing Fortune 100 Customer
Electrovaya (NASDAQ/TSX: ELVA) has received a US$3.5 million purchase order for immediate battery delivery through its OEM sales channels. The batteries will power material handling electric vehicles in warehouse operations for a Fortune 100 e-commerce company in the United States and Australia. The customer, currently operating Electrovaya batteries in more than 30 distribution centers, is the company's largest global end user.
Electrovaya (NASDAQ/TSX: ELVA) ha ricevuto un ordine di acquisto di 3,5 milioni di dollari USA per la consegna immediata di batterie attraverso i suoi canali di vendita OEM. Le batterie alimenteranno veicoli elettrici per la movimentazione dei materiali nelle operazioni di magazzino per un azienda di e-commerce Fortune 100 negli Stati Uniti e in Australia. Il cliente, che attualmente utilizza le batterie Electrovaya in oltre 30 centri di distribuzione, è il più grande utente finale globale dell'azienda.
Electrovaya (NASDAQ/TSX: ELVA) ha recibido un pedido de compra de 3.5 millones de dólares estadounidenses para la entrega inmediata de baterías a través de sus canales de ventas OEM. Las baterías alimentarán vehículos eléctricos de manejo de materiales en operaciones de almacén para una empresa de comercio electrónico Fortune 100 en Estados Unidos y Australia. El cliente, que actualmente opera baterías Electrovaya en más de 30 centros de distribución, es el mayor usuario final global de la compañía.
Electrovaya (NASDAQ/TSX: ELVA)는 OEM 판매 채널을 통해 즉각적인 배터리 배송을 위한 350만 달러 구매 주문을 수령했습니다. 이 배터리는 미국과 호주의 포춘 100 전자상거래 회사의 창고 운영에서 물류 처리 전기 차량에 전력을 공급합니다. 현재 30개 이상의 분배 센터에서 Electrovaya 배터리를 운영하고 있는 이 고객은 회사의 가장 큰 글로벌 최종 사용자입니다.
Electrovaya (NASDAQ/TSX: ELVA) a reçu un bon de commande de 3,5 millions de dollars US pour une livraison immédiate de batteries par le biais de ses canaux de vente OEM. Les batteries alimenteront des véhicules électriques de manutention dans les opérations d'entrepôt pour une entreprise de commerce électronique Fortune 100 aux États-Unis et en Australie. Le client, qui utilise actuellement des batteries Electrovaya dans plus de 30 centres de distribution, est le plus grand utilisateur final mondial de l'entreprise.
Electrovaya (NASDAQ/TSX: ELVA) hat eine Bestellung über 3,5 Millionen US-Dollar für die sofortige Lieferung von Batterien über seine OEM-Vertriebskanäle erhalten. Die Batterien werden elektrische Materialtransportfahrzeuge in Lagerbetrieben für ein Fortune 100 E-Commerce-Unternehmen in den Vereinigten Staaten und Australien antreiben. Der Kunde, der derzeit Electrovaya-Batterien in mehr als 30 Verteilungszentren betreibt, ist der größte globale Endbenutzer des Unternehmens.
- Secured significant US$3.5 million purchase order
- Repeat order from existing Fortune 100 customer indicates product satisfaction
- Customer operates in over 30 distribution centers, showing large-scale adoption
- Geographic expansion to Australia market
- None.
Insights
A significant
The expansion into Australian operations alongside existing U.S. presence indicates growing geographical diversification and potential for further international growth. For a company of Electrovaya's size, securing repeat business from major Fortune 100 clients is important for stable revenue streams and future growth prospects. The immediate delivery requirement suggests healthy demand and operational readiness to fulfill large orders.
Customer is largest global end user of Company's batteries with more than 30 warehouse locations operating vehicles powered by Electrovaya batteries
TORONTO, ON / ACCESSWIRE / November 12, 2024 / 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 valued at approximately US
"We are delighted to announce this repeat order to supply this leading Fortune 100 e-commerce customer with our batteries," said Dr. Jeremy Dang, Vice President of Business Development at Electrovaya. "This customer has been the largest operator of our batteries to date with more than 30 distribution centers. We are pleased to see additional order volume coming from this key global customer. It is a testament to our commitment to providing reliable, safe and long-lasting battery solutions."
Investor and Media, please contact:
Jason Roy
Director, Corporate Development and Investor Relations
Electrovaya Inc.
905-855-4618
jroy@electrovaya.com
Brett Maas, Managing Partner
Hayden IR
646-536-7331
brett@haydenir.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, 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 Company's intention to repay the promissory notes by the amended maturity date are based on an assumption that the Company will be able to repay the promissory notes by the amended maturity date. 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, 2023 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.
View the original press release on accesswire.com
FAQ
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