Latest news with #Electrovaya
Miami Herald
6 days ago
- Business
- Miami Herald
Electrovaya Receives Additional US$6.3 Million Order for Fortune 100 Customer
This purchase order is a follow on from other orders received during the fiscal year from the same end customer with a cumulative total over $16 million Further demands for additional sites expected later in the year TORONTO, ON / ACCESS Newswire / June 3, 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 purchase orders through its OEM sales channel valued at approximately US$6.3 million. The batteries will be used by a leading Fortune 100 e-commerce company in the United States for powering material handling electric vehicles in multiple distribution centers. This order followed recently announced orders from the same end customer that were placed during the current fiscal year for a cumulative demand of over $16 million. Additional orders are also under consideration. "We are happy to report this repeat order with a globally-recognized corporation," said Dr. Jeremy Dang VP of Business Development at Electrovaya. "With these new orders, this end user will have over 2500 Infinity batteries deployed in more than 40 different distribution centers across three countries on two continents. Electrovaya is thrilled to be a part of the customer's mission in adopting clean, safe, and long-lasting energy solutions." Investor and Media Contact: Jason RoyVP, Corporate Development and Investor RelationsElectrovaya Inc.905-855-4618 / jroy@ 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 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.
Business Insider
17-05-2025
- Business
- Business Insider
Analysts Offer Insights on Industrial Goods Companies: Virgin Galactic Holdings (SPCE) and Electrovaya (ELVA)
There's a lot to be optimistic about in the Industrial Goods sector as 2 analysts just weighed in on Virgin Galactic Holdings (SPCE – Research Report) and Electrovaya (ELVA – Research Report) with bullish sentiments. Confident Investing Starts Here: Virgin Galactic Holdings (SPCE) In a report released yesterday, Greg Konrad from Jefferies maintained a Buy rating on Virgin Galactic Holdings, with a price target of $8.00. The company's shares closed last Friday at $4.80, close to its 52-week low of $2.85. According to Konrad is ranked #9148 out of 9558 analysts. The word on The Street in general, suggests a Hold analyst consensus rating for Virgin Galactic Holdings with a $14.58 average price target, representing a 289.8% upside. In a report issued on May 15, TD Cowen also maintained a Buy rating on the stock with a $4.50 price target. Electrovaya (ELVA) In a report issued on May 15, Amit Dayal from H.C. Wainwright maintained a Buy rating on Electrovaya, with a price target of $10.00. The company's shares closed last Friday at $3.04. According to Dayal is ranked 0 out of 5 stars with an average return of -18.7% and a 28.3% success rate. Dayal covers the Industrial Goods sector, focusing on stocks such as TOMI Environmental Solutions, Amprius Technologies Inc, and Surf Air Mobility, Inc. The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Electrovaya with a $5.00 average price target, implying a 61.8% upside from current levels. In a report issued on May 7, Craig-Hallum also maintained a Buy rating on the stock.
Yahoo
15-05-2025
- Business
- Yahoo
Electrovaya Inc. (ELVA) Q2 Earnings and Revenues Miss Estimates
Electrovaya Inc. (ELVA) came out with quarterly earnings of $0.02 per share, missing the Zacks Consensus Estimate of $0.03 per share. This compares to loss of $0.02 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -33.33%. A quarter ago, it was expected that this company would post a loss of $0.02 per share when it actually produced a loss of $0.01, delivering a surprise of 50%. Over the last four quarters, the company has surpassed consensus EPS estimates two times. Electrovaya Inc. , which belongs to the Zacks Electronics - Miscellaneous Products industry, posted revenues of $15.02 million for the quarter ended March 2025, missing the Zacks Consensus Estimate by 7.10%. This compares to year-ago revenues of $10.7 million. The company has not been able to beat consensus revenue estimates over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Electrovaya Inc. Shares have added about 11.3% since the beginning of the year versus the S&P 500's gain of 0.1%. While Electrovaya Inc. Has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Electrovaya Inc. Mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.04 on $18.69 million in revenues for the coming quarter and $0.10 on $66.68 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Electronics - Miscellaneous Products is currently in the bottom 38% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, ESS Tech, Inc. (GWH), is yet to report results for the quarter ended March 2025. This company is expected to post quarterly loss of $1.66 per share in its upcoming report, which represents a year-over-year change of -10.7%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. ESS Tech, Inc.'s revenues are expected to be $2.4 million, down 12.4% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Electrovaya Inc. (ELVA) : Free Stock Analysis Report ESS Tech, Inc. (GWH) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Market Online
07-05-2025
- Business
- The Market Online
Electrovaya kicks off battery manufacturing in New York
Electrovaya (TSX:ELVA), a lithium-ion battery technology stock, has begun battery system assembly operations at its facility in Jamestown, New York The company is focused on designing and supplying lithium-ion batteries for energy storage and heavy duty electric vehicles Electrovaya stock has given back 11.29 per cent year-over-year but remains up by 285 per cent since 2020 Electrovaya (TSX:ELVA), a lithium-ion battery technology stock, has begun battery system assembly operations at its facility in Jamestown, New York. According to Wednesday's news release, operations will ramp up as commercial lithium-ion cell and module production gets underway in mid 2026 in line with expected growth in demand for the company's products. Electrovaya has ordered $40 million in equipment for cell and module manufacturing, expected for delivery in late 2025, funded through its over $50 million loan from the Export Import Bank of the United States under the Make More In America program. From an income statement perspective, Electrovaya has grown revenue since 2021 while significantly reducing net losses since 2023, suggesting continued progress towards profitability as production begin to scale. Leadership insights 'We are excited to begin manufacturing operations for Electrovaya's Infinity Battery Systems here in Jamestown,' Lee Gilmore, general manager of Electrovaya's Jamestown operations, said in a statement. 'Our team continues to grow and gain experience in lithium-ion battery system manufacturing and support the investments being made at this facility.' 'Through these initial operations in Jamestown, Electrovaya will be well-positioned to support continuing demand growth,' added Raj DasGupta, Electrovaya's chief executive officer. 'Furthermore, by building a strong team now, we will be able to hit the ground running when it comes time to commence our lithium-ion cell manufacturing operations next year and support our strategic plan to become a leading domestic lithium-ion battery manufacturer in the United States.' About Electrovaya Electrovaya is dedicated to designing and supplying lithium-ion batteries for energy storage and heavy duty electric vehicles. Electrovaya stock (TSX:ELVA) opened with a gain of 1.58 per cent trading at C$3.85. The stock has given back 11.29 per cent year-over-year but remains up by 285 per cent since 2020. Join the discussion: Find out what everybody's saying about this lithium battery technology stock on the Electrovaya Inc. Bullboard and check out the rest of Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
Miami Herald
07-05-2025
- Business
- Miami Herald
Electrovaya Announces Start of Battery System Manufacturing in Jamestown, NY
Press Releases Electrovaya Announces Start of Battery System Manufacturing in Jamestown, NY Key Milestone as part of Electrovaya's Manufacturing Investment in Jamestown, New York Electrovaya Inc. (NASDAQ:ELVA)(TSX:ELVA), a leading lithium-ion battery technology and manufacturing company, announces that it has commenced battery system assembly operations at its Jamestown, New York facility. These operations will continue to expand with growth in demand for Electrovaya's battery systems and as the Company gets closer to starting its lithium ion cell and module production which is estimated to begin in mid 2026. In preparation for the cell and module manufacturing plans, Electrovaya has thus far placed over $40 million worth of capital equipment orders. The capital for this investment will be drawn from a recently closed $51 million direct loan from the Export Import Bank of the United States ("EXIM") under their Make More In America program. Delivery of the capital equipment will begin late in calendar year 2025 with the full lithium ion cell and module commercial production set to commence in mid 2026. "We are excited to begin manufacturing operations for Electrovaya's Infinity Battery systems here in Jamestown." said Lee Gilmore, General Manager of Electrovaya's Jamestown Operations. "Our team continues to grow and gain experience in lithium ion battery system manufacturing and support the investments being made at this facility." "Through these initial operations in Jamestown, Electrovaya will be well positioned to support continuing demand growth" said Raj DasGupta, CEO at Electrovaya. "Furthermore, by building a strong team now, we will be able to hit the ground running when it comes time to commence our lithium ion cell manufacturing operations next year and support our strategic plan to become a leading domestic lithium ion battery manufacturer in the United States." Investor and Media Contact: Jason Roy VP, Corporate Development and Investor Relations Electrovaya Inc. jroy@ / 905-855-4618 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 a 52-acre site with a 135,000 square foot manufacturing facility in New York State. To learn more about Electrovaya, please explore . Forward-Looking Statements This press release contains forward-looking statements, including statements that relate to, among other things, revenue, purchase orders, anticipated growth in demand, order growth and customer demand in FY 2025, future business opportunities, startup of Jamestown cell and module manufacturing operations in 2026 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, 2024 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. This story was originally published May 7, 2025 at 7:02 AM.
