Electrovaya Secures $50.8 Million Loan for Jamestown Facility Expansion

Electrovaya Inc. has announced the approval of a $50.8 million direct loan from the Export-Import Bank of the United States (EXIM). The loan will fund the expansion of Electrovaya's Jamestown Battery Manufacturing Facility under the 'Make More in America' initiative.

The financing will cover costs related to equipment, engineering, and setup as Electrovaya aims to meet rising demand for its lithium-ion batteries. The facility will produce Infinity lithium-ion ceramic cells, noted for their longevity and safety, and is set to begin commercial shipments in early 2026.

This expansion is expected to create over 250 jobs and strengthen U.S. lithium-ion battery supply chains. With the support of state and federal incentives, Electrovaya's investment in Jamestown underscores a commitment to domestic manufacturing and potential market growth.