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Associated Press
25-06-2025
- Business
- Associated Press
Electrovaya to Participate at the ROTH 15th Annual - London, Conference
TORONTO, ON / ACCESS Newswire / June 25, 2025 / Electrovaya Inc. ('Electrovaya' or the 'Company') (NASDAQ:ELVA)(TSX:ELVA), a leading lithium-ion battery technology and manufacturing company, today announced that Dr. Raj DasGupta, Electrovaya's CEO will be participating at the Roth 15th Annual-London Conference, held at the Four Seasons Park Lane in London, UK. The Company's participation underscores Electrovaya's ongoing commitment to active engagement with the global financial community. During the conference, CEO, Raj DasGupta will take part in one-on-one and small group meetings with leading European institutional investors to discuss the Company's strategic initiatives, technology roadmap, and long-term growth outlook. Event: ROTH - 15th Annual - London Conference Date: June 25-26, 2025 Location: Four Seasons Park Lane, London, UK Format: 1x1 small group meetings - by invitation only For more information on the ROTH - 15th Annual - London, UK Conference, or to schedule a one-on-one meeting with Electrovaya's management, please contact your ROTH representative. Investor and Media Contact: Jason Roy VP, Corporate Development and Investor Relations Electrovaya Inc. 905-855-4618 / [email protected] 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 SOURCE: Electrovaya, Inc. press release
Arab News
15-06-2025
- Business
- Arab News
ACWA Power advances $1.8bn capital increase plan to boost global expansion, says CFO
RIYADH: Saudi utility giant ACWA Power is moving forward with its SR7 billion ($1.8 billion) capital increase as part of a broader strategy to expand its footprint in energy transformation, water desalination, and green hydrogen production, according to its chief financial officer. In an interview with Al-Ekhbariya, Abdulhameed Al-Muhaidib described the capital raise as a critical step to reinforce the company's leadership both domestically and internationally in sustainable infrastructure. ACWA Power's investment portfolio currently stands at around SR400 billion, encompassing over 78 gigawatts of production capacity and more than 9.5 million cubic meters per day in water desalination capacity. In line with long-term objectives, the company's board approved a plan two years ago to triple assets under management to over SR937.5 billion by 2030. The initiative also aligns with Saudi Arabia's national goal of achieving a balanced energy mix by 2030, targeting an equal split between gas and renewable sources for electricity generation. 'The company decided to increase its capital through a rights issue rather than expanding into debt markets, with the aim of strengthening its financial position and enhancing credit flexibility. A large portion of the proceeds will be used to expand its project portfolio both inside and outside the Kingdom,' said Al-Muhaidib. He noted that 60 percent of ACWA Power's current investments are located in the Kingdom, with the remaining 40 percent spread across international markets. Between 75 percent and 85 percent of the new capital will be allocated to greenfield projects, while acquisitions will account for no more than 20 percent. 'ACWA Power's infrastructure projects rely primarily on debt, with shareholders' equity covering 20 percent to 25 percent of the financing structure. The company will continue this financing strategy while maintaining net debt at approximately SR20 billion, despite the significant growth expected through 2030,' he added. Highlighting the company's geographical expansion, Al-Muhaidib said ACWA Power added new projects worth SR34 billion in 2024 across Saudi Arabia, Egypt, Azerbaijan, Uzbekistan, and China. He also pointed out the firm's active presence in China, with more than 90 employees based in its Shanghai office to support growth in that market. ACWA Power successfully achieved nine financial closings in 2024, amounting to SR34.6 billion. The CFO said a dedicated internal team has been established to streamline project execution from inception to operation. He confirmed that the Capital Market Authority has approved the capital increase, with the final offering price set to be announced during the company's general assembly on June 30. 'Seventy-seven percent of shareholders have submitted their subscription pledges,' Al-Muhaidib noted, adding that the high participation rate underscores investor confidence in the company's long-term strategy. ACWA Power reported a net profit of SR1.75 billion in 2024, a 5.74 percent increase year on year, according to a Tadawul filing issued in February. The gain was attributed to higher revenues from operations and maintenance, increased electricity sales, and improved earnings from equity-accounted investees, capital recycling, and net finance income.
