Latest news with #ElectrovayaInc
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.
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.
Miami Herald
23-04-2025
- Business
- Miami Herald
Electrovaya Announces Date for Q2-2025 Financial Results & Conference Call
TORONTO, ON / ACCESS Newswire / April 23, 2025 / Electrovaya Inc. (NASDAQ:ELVA)(TSX:ELVA), a leading lithium-ion battery technology and manufacturing company, announces that it will file and release its second quarter financial results ending March 31, 2025, following the market close on Wednesday, May 14, 2025. This will be followed by a conference call at 5:00 p.m. EST on the same day, presented by CEO, Dr. Raj DasGupta and CFO, John Gibson to discuss the financial results and provide a business update. Conference Call details: Date: Wednesday, May 14, 2025Time: 5:00 pm. Eastern Time (ET)Toll Free: 888-506-0062International: 973-528-0011Participant Access Code: 929779 To help ensure that the conference begins in a timely manner, please dial in 10 minutes prior to the start of the call. For those unable to participate in the conference call, a replay will be available for two weeks beginning on May 14, 2025 through May 28, 2025. To access the replay, the dial-in number is 877-481-4010 and 919-882-2331. The replay passcode is 52379 . Investor and Media Contact :Jason RoyVP, Corporate Development and Investor RelationsElectrovaya / 905-855-4618 About 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 SOURCE: Electrovaya, Inc.
Yahoo
18-04-2025
- Business
- Yahoo
Electrovaya's (TSE:ELVA) investors will be pleased with their stellar 238% return over the last five years
When you buy shares in a company, it's worth keeping in mind the possibility that it could fail, and you could lose your money. But on the bright side, you can make far more than 100% on a really good stock. For instance, the price of Electrovaya Inc. (TSE:ELVA) stock is up an impressive 238% over the last five years. It's even up 7.3% in the last week. But this could be related to the buoyant market which is up about 5.6% in a week. So let's assess the underlying fundamentals over the last 5 years and see if they've moved in lock-step with shareholder returns. We've found 21 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free. Given that Electrovaya didn't make a profit in the last twelve months, we'll focus on revenue growth to form a quick view of its business development. Shareholders of unprofitable companies usually desire strong revenue growth. Some companies are willing to postpone profitability to grow revenue faster, but in that case one would hope for good top-line growth to make up for the lack of earnings. For the last half decade, Electrovaya can boast revenue growth at a rate of 39% per year. That's well above most pre-profit companies. Meanwhile, its share price performance certainly reflects the strong growth, given the share price grew at 28% per year, compound, during the period. This suggests the market has well and truly recognized the progress the business has made. Electrovaya seems like a high growth stock - so growth investors might want to add it to their watchlist. You can see below how earnings and revenue have changed over time (discover the exact values by clicking on the image). If you are thinking of buying or selling Electrovaya stock, you should check out this FREE detailed report on its balance sheet. While the broader market gained around 13% in the last year, Electrovaya shareholders lost 11%. Even the share prices of good stocks drop sometimes, but we want to see improvements in the fundamental metrics of a business, before getting too interested. On the bright side, long term shareholders have made money, with a gain of 28% per year over half a decade. If the fundamental data continues to indicate long term sustainable growth, the current sell-off could be an opportunity worth considering. While it is well worth considering the different impacts that market conditions can have on the share price, there are other factors that are even more important. Case in point: We've spotted 1 warning sign for Electrovaya you should be aware of. If you are like me, then you will not want to miss this free list of undervalued small caps that insiders are buying. Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on Canadian exchanges. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
