Business
Electrovaya Receives Purchase Orders for Batteries from Fortune 500 Customer to Re-Power Three Existing Distribution Centers
This purchase order, valued at $8.7 million, is a follow on from a December $4.1 million order, r...
About this update from Electrovaya Inc.
[{"type":"text","content":"Electrovaya Receives Purchase Orders for Batteries from Fortune 500 Customer to Re-Power Three Existing Distribution CentersThis purchase order, valued at $8.7 million, is a follow on from a December $4.1 million order, represents the continuation of the customer's fleet conversion strategy with potential further sites planned later in the year TORONTO, ON / ACCESS Newswire / April 1, 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 valued at approximately US$8.7 million. The batteries will be used by a leading Fortune 500 retailer in the United States for powering material handling electric vehicles in three existing warehouse sites. This order followed a recent $4.1million order from the same end customer for two distribution centers that was placed in December 2024. Additional sites are also being planned for conversion on top of these new orders. \"We are again very pleased to announce another round of orders with a leading discount retailer and to continue to support their energy efficiency initiatives,\" said Dr. Jeremy Dang, Vice President of Business Development at Electrovaya. \"This customer has been one of the largest users of our batteries since 2022 with nearly 1500 batteries in operation and with further ambition to re-power additional distribution centers' fleets in 2025 and 2026 with the industry's best-in-class battery solutions.\"Investor and Media Contact:Jason RoyVP, Corporate Development and Investor RelationsElectrovaya Inc.905-855-4618 / [email protected] 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 si...