Electrovaya Provides a Shareholder Update including Unaudited Preliminary FY2024 Annual Financial Results and Positive Outlook for 2025
Unaudited FY2024 Revenue Estimate of approximately $45 million with a Gross Margin of 31% Expects FY 2024 Year Operating Profit and Improved Adjusted EBITDA Expects FY2025 Revenues to Exceed $60 million Driven by Renewed Demand from the Company's Largest End Users US EXIM Bank's recently approved Direct Loan of $51 expected to begin disbursements during CY Q1 2025 TORONTO, ON / ACCESSWIRE / November 27, 2024 / Electrovaya Inc. ("Electrovaya" or the "Company") (NASDAQ:ELVA)(TSX:ELVA), a leading lithium-ion battery technology and manufacturing company, announced an unaudited Fiscal Year ("FY") 2024 ending 30th September, revenue update along with other business updates. All figures in this update are expressed in US dollars.
Electrovaya: Mispriced Potential For Industry-Leading Battery Technology
Electrovaya's Infinity Battery, with its superior cycle life and safety profile, is significantly undervalued by the market, presenting a strong buy opportunity. The company's strategic focus on heavy-duty applications and recent design wins in multiple verticals signal a prolonged growth stage. The Sumitomo agreement and the upcoming Jamestown facility build-out are game-changers, positioning Electrovaya for exponential growth.
Electrovaya Receives Follow On Orders for High Voltage Battery Systems from Global Aerospace and Defense Company Following Extensive Testing
Electrovaya's High Voltage Battery Systems demonstrated strong reliability and performance in mission critical off-road defense application over several months of extensive testing TORONTO, ON / ACCESSWIRE / November 21, 2024 / Electrovaya Inc. ("Electrovaya" or the "Company") (NASDAQ:ELVA)(TSX:ELVA) a leading lithium-ion battery technology and manufacturing company, is pleased to announce follow-on order for Infinity-HV battery systems, from a global aerospace and defense company. "We are excited that our first Infinity-HV battery product, which shipped nearly a year ago, met the extreme performance requirements for this off-road autonomous defense application, which represents some of the most difficult validation testing available," said CEO, Dr. Raj DasGupta.
The Export-Import Bank of the United States (EXIM) Approves a direct loan in the amount of $50.8 million to fund Electrovaya's Jamestown Lithium-Ion Battery Expansion
Funding under EXIM‘s Make More in America initiative will fund equipment, engineering and setup costs for Electrovaya's Jamestown Battery Manufacturing Facility JAMESTOWN, NY / ACCESSWIRE / November 14, 2024 / Electrovaya Inc. ("Electrovaya" or the "Company") (NASDAQ:ELVA)(TSX:ELVA), a leading lithium-ion battery technology and manufacturing company, is pleased to announce that it has secured a direct loan in the amount of US$50.8 million from the Export-Import Bank of the United States ("EXIM") under the bank's ‘Make More in America' initiative. This financing will fund Electrovaya's battery manufacturing buildout in Jamestown, New York including equipment, engineering and setup costs for the facility.
Electrovaya Receives US$3.5 million Order for Batteries for Use by Existing Fortune 100 Customer
Customer is largest global end user of Company's batteries with more than 30 warehouse locations operating vehicles powered by Electrovaya batteries TORONTO, ON / ACCESSWIRE / November 12, 2024 / 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$3.5 million for immediate delivery of its batteries from one of its OEM sales channels. The batteries will be used by a leading Fortune 100 e-commerce company in the United States and Australia for powering material handling electric vehicles in its warehouse operations.
Electrovaya Named One of Canada's Clean Technology Winners in Deloitte's Technology Fast 50TM Program
TORONTO, ON / ACCESSWIRE / November 7, 2024 / Electrovaya Inc. ("Electrovaya" or the "Company") (NASDAQ:ELVA)(TSX:ELVA), a leading lithium-ion battery technology and manufacturing company, is pleased to announce that it has received a Clean Technology award as part of Deloitte's 2024 Technology Fast 50 program for the second consecutive year. Launched in 2021, this leadership category recognizes Canada's top clean innovators providing processes, goods, or services that reduce environmental impacts.
Electrovaya to Attend Two Investor Conferences
-15th Annual Craig-Hallum Alpha Select Conference- -UBS Global Industrials & Transportation Conference- TORONTO, ON / ACCESSWIRE / November 5, 2024 / Electrovaya Inc. ("Electrovaya" or the "Company") (NASDAQ:ELVA)(TSX:ELVA), a lithium ion battery technology and manufacturing company, today announced that Dr. Raj DasGupta, Electrovaya's CEO will be attending the following upcoming conferences: Event: 15th Annual Craig-Hallum Alpha Select Conference Date: November 19, 2024Location: Sheraton NY Times Square Hotel, New York, NYFormat: 1x1 Meetings For more information, please visit: Click Here Event: UBS Global Industrials & Transportation Conference Date: December 3-5, 2024Location: Eau Palm Beach Resort and Spa, Manalapan, FLFormat: 1x1 & Small Group Meetings/Fireside Presentations For more information, please visit: Click Here Investor and Media Contact: Jason RoyVP, Corporate Development and Investor RelationsElectrovaya Inc. [email protected] 905-855-4618 Brett MaasHayden IR [email protected] 646-536-7331 About 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.
Electrovaya Receives Funding from the Government of Canada
C$2 million in funding to support investments in Electrovaya's Canadian facility for automation and capacity enhancements TORONTO, ON / ACCESSWIRE / October 17, 2024 / Electrovaya Inc. ("Electrovaya" or the "Company") (NASDAQ:ELVA)(TSX:ELVA.TO), a lithium ion battery technology and manufacturing company, announced a C$2-million investment from the Government of Canada through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario). This funding will be used to support investments in automation, AI and capacity enhancements at Electrovaya's Mississauga, Ontario manufacturing facility.
Electrovaya and Innovative Rail Technologies Enter into Strategic Supply Agreement for the Supply of Battery Systems for Electric Rail Applications
Electrovaya to supply battery systems for IRT's full electric locomotives serving a variety of rail applications including industrial operations, ports, short line railroads, defense, and commuter rail TORONTO, ON / ACCESSWIRE / September 30, 2024 / Electrovaya Inc. ("Electrovaya" or the "Company") (NASDAQ:ELVA)(TSX:ELVA), a lithium-ion battery technology and manufacturing company, today announced the establishment of a Strategic Supply Agreement with Innovative Rail Technologies, LLC (IRT). The Agreement will initially cover the supply of Electrovaya's Infinity battery systems for IRT's electric locomotive systems.
Electrovaya Receives Initial Purchase Orders from Global Japanese Construction Equipment Manufacturer
Entry into a new market sector of construction vehicles and new geographical market of Japan TORONTO, ON / ACCESSWIRE / September 10, 2024 / Electrovaya Inc. ("Electrovaya" or the "Company") (NASDAQ:ELVA)(TSX:ELVA.TO), a lithium ion battery technology and manufacturing company, today announced the receipt of its first purchase orders for pre-production battery modules to be provided to a global Japanese headquartered manufacturer of construction equipment. This will be part of an electric excavator program with an estimated scaled production start in 2026.
Electrovaya Inc. (ELVA) Q3 2024 Earnings Call Transcript
Electrovaya Inc. (NASDAQ:ELVA ) Q3 2024 Earnings Conference Call August 13, 2024 5:00 PM ET Company Participants Rajshekar DasGupta - CEO John Gibson - CFO Conference Call Participants Eric Stine - Craig-Hallum Craig Irwin - ROTH Capital Partners Amit Dayal - H.C. Wainwright Operator Greetings.
Electrovaya Reports Third Quarter FY2024 Financial Results
Continued gross margin growth, Revenue of $10.3 million, Adjusted EBITDA1 of $0.6 million. Progress in meeting strategic financing objectives including refinancing existing working capital facilities and in negotiations with a US federal agency with regards to financing planned Jamestown, New York lithium-ion battery manufacturing facility TORONTO, ON / ACCESSWIRE / August 13, 2024 / Electrovaya Inc. ("Electrovaya" or the "Company") (NASDAQ:ELVA)(TSX:ELVA), a leading lithium-ion battery technology and manufacturing company, today reported its financial results for fiscal 2024 third quarter ended June 30, 2024 ("Q3 FY2024").
