Electrovaya Receives $10.5 Million P.O from Fortune 500 Customer

Executive Summary

• Electrovaya announced receipt of new purchase orders totaling approximately $10.5 million from a Fortune 500 U.S. customer for its Infinity battery systems.
• Orders target material‑handling electric vehicles operating at multiple distribution centers, indicating expansion of the company’s OEM sales channel.
• Management expects additional orders from the same strategic customer as it continues to advance its electrification strategy.

Key Details

• Purchase Order Value: ~ $10.5 million (USD) received on February 24, 2026.
• Customer: Unnamed Fortune 500 U.S.–based company; orders are for Infinity battery systems used in material‑handling EVs at several distribution centers.
• Product: Electrovaya’s Infinity battery systems – engineered for high‑duty‑cycle industrial electric vehicle fleets with emphasis on safety, longevity, and performance.
• Strategic Significance: Strengthens Electrovaya’s OEM channel and showcases adoption of its technology by a major logistics operator.
• Future Outlook: Company anticipates “additional orders” as the customer furthers its electrification initiatives throughout 2026.
• Executive Comment: Dr. Jeremy Dang, VP Business Development, highlighted pride in supporting customers’ shift toward safe, long‑lasting energy solutions for logistics operations.

Notable Quotes

“We are pleased to receive this latest order from a strategic customer,” – Dr. Jeremy Dang, Vice President of Business Development, Electrovaya.
“Electrovaya is proud to support our customers' shift toward safe and long‑lasting energy solutions for their logistics operations.” – Dr. Jeremy Dang.