Electrovaya Receives US$3.4 Million Battery Order for Materials Handling Electric Vehicles from a New Fortune 100 Customer

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[{"type":"text","content":"Electrovaya Receives US$3.4 Million Battery Order for Materials Handling Electric Vehicles from a New Fortune 100 CustomerCustomer is expected to be the 10th Fortune 100 company and fifth Fortune 100 retailer to operate Electrovaya batteriesTORONTO, ON / ACCESSWIRE / February 9, 2023 / Electrovaya Inc. (TSX:EFL)(OTCQB:EFLVF), a leading lithium-ion battery technology and manufacturing company, today announced the receipt of a battery purchase order through its OEM sales channel valued at approximately US$3.4 million. The batteries will be used by a leading Fortune 100 retailer to power Materials Handling Electric Vehicles (\"MHEVs\") in the United States. Deliveries will be made during the 2023 fiscal year. \"We are delighted to announce a significant order with a new Fortune 100 customer and leading national retailer in the United States,\" said Dr. Jeremy Dang, Vice President of Business Development at Electrovaya. \"This represents the first distribution center order for this customer. Following successful deployment, we believe it may seed demand for additional orders. Electrovaya's MHEV batteries, based on our proprietary Infinity battery technology, offer superior safety and cycle life and thus provide sophisticated commercial customers with the lowest overall cost of ownership.\"For more information, please contact:Investor and Media Contact: Jason RoyDirector, Corporate Development and Investor RelationsElectrovaya [email protected] Electrovaya Inc.Electrovaya Inc. (TSX:EFL) (OTCQB:EFLVF) 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 without compromising energy and power. Electrovaya is a technology-focused company with extensive IP, designs, develops, and manufactures proprietary lithium-ion batteries, battery systems, and battery-related products for energy storage, clean electric transportation, and other specialized applications. To learn more about how Electrovaya is powering mobility and energy storage, please explore www.electrovaya.com.Forward-Looking Statements This press release contains forward-looking statements relating to the deployment of the Company's products by the Company's customers and the timing for delivery thereof, and can generally be identified...

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