on Electrovaya, Inc. (NASDAQ:ELVA)
Electrovaya Secures US$4.5 Million Order from Fortune 100 Client
Electrovaya Inc., a leader in lithium-ion battery technology, announced significant new orders worth approximately US$4.5 million. These orders come from a top Fortune 100 e-commerce company operating in the U.S. and Canada. They will utilize Electrovaya's Infinity battery systems for powering electric vehicles in distribution centers.
The new order elevates Electrovaya's cumulative demand from the client to over US$20 million for fiscal 2025. This highlights the ongoing demand and Electrovaya's pivotal role in their customer's electrification strategy.
Dr. Jeremy Dang, VP of Business Development, expressed pride in the recurring orders, emphasizing the deployment of over 2,800 Infinity battery systems across more than 50 sites. The systems promise superior safety and longevity for high-duty-cycle operations.
R. H.
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