Electrovaya receives $10.5M of purchase orders

Executive Summary

• Electrovaya Inc. has secured new purchase orders totaling approximately $10.5 million from a Fortune 500 customer in the United States.
• The orders are for Electrovaya's Infinity battery systems, which will power material handling electric vehicles at multiple distribution centers for the customer.
• The company anticipates additional orders as the customer continues to advance its electrification strategy for logistics operations.

Key Details

• Total Order Value: Approximately $10.5 million.
• Customer Profile: Fortune 500 United States-based customer.
• Product: Electrovaya's Infinity battery systems.
• Application: Powering material handling electric vehicles at multiple distribution centers.
• Sales Channel: Original Equipment Manufacturer (OEM) sales channel.
• Product Specifications: Engineered for demanding, high-duty-cycle applications with a focus on safety, longevity, and performance for industrial electric vehicle fleets.
• Future Outlook: Additional orders are anticipated as the customer advances its electrification strategy.

Notable Quotes

• "We are pleased to receive this latest order from a strategic customer," said Dr. Jeremy Dang, vice-president of business development at Electrovaya.
• "Electrovaya is proud to support our customers' shift toward safe and long-lasting energy solutions for their logistics operations. Additional orders are also anticipated as they continue to advance their electrification strategy."