Electrovaya continues buildout of Jamestown facility

Executive Summary

• Electrovaya provided a comprehensive business update highlighting progress on its Jamestown gigafactory, insider share purchases by the CEO and CFO, and the planned deployment of proceeds from a recent equity financing.
• The company confirmed continued drawdowns under its EXIM-supported direct loan facility to support equipment procurement, commissioning, and scale-up activities at its New York manufacturing facility.
• Proceeds from the November 6, 2025, equity offering will be allocated to R&D initiatives, including rapid-charging enhancements, separator technology, solid-state battery development, and the expansion of its Energy-as-a-Service (EaaS) program.

Key Details

• Jamestown Gigafactory Progress:
  • Continued execution of drawdowns under the Export-Import Bank of the United States (EXIM) direct loan facility.
  • Funds are being used for equipment procurement, commissioning, and overall scale-up activities.
  • Facility is designed for high-durability lithium-ion batteries targeting material handling, robotics, heavy equipment, and stationary energy-storage markets.
• Insider Purchases:
  • CEO and CFO executed open-market purchases of common shares during the past week.
  • Transactions filed through appropriate securities regulatory reporting systems.
• Equity Financing Deployment (Nov. 6, 2025 Offering):
  • Rapid-Charging Enhancements: Accelerating development of fast-charge capabilities for the Infinity battery platform, targeting robotic and data center applications.
  • Separator Technology: Development of next-generation separator architecture for improved thermal performance and domestic supply chains.
  • Solid-State Battery Development: Strategic R&D investment to advance proprietary high-safety, high-energy-density solid-state technology toward commercialization.
  • Energy-as-a-Service (EaaS): Scaling initiatives to support recurring-revenue models and lower upfront capital requirements for customers.
• Upcoming Financials:
  • Fiscal fourth-quarter (FYQ4) results expected during the week of December 8, 2025.

Notable Quotes

• "The EXIM-supported funding remains a critical catalyst for advancing Electrovaya's domestic manufacturing capabilities, enabling the company to serve the rapidly expanding demand for high-durability lithium-ion batteries across material handling, robotics, heavy equipment and stationary energy-storage markets."
• "These insider transactions underscore management's confidence in Electrovaya's growth trajectory, commercialization initiatives and long-term shareholder value creation."