Electrovaya Inc

Earnings data Q3 2023

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Electrovaya, Inc. is a lithium-ion battery technology and manufacturing company. engages in designing, developing, and manufacturing proprietary lithium-ion batteries, battery systems, and battery-related products for energy storage, clean electric transportation, and other specialized applications. The firm's businesses include lithium-ion batteries to power MHEVs including forklifts and Automated Guided Vehicles, as well as accessories such as battery chargers to charge the batteries; electromotive power products for electric trucks, electric buses and other transportation applications; industrial products for energy storage; and specialty applications which require complex power solutions, including competencies in building systems for third parties. The company was founded by Sankar Das Gupta in September 1996 and is headquartered in Mississauga, Canada.

TORONTO, ON / ACCESSWIRE / December 18, 2024 / Electrovaya Inc. ("Electrovaya" or the "Company") (NASDAQ:ELVA)(TSX:ELVA), a leading lithium-ion battery technology and manufacturing company, is pleased to announce in connection with its previously completed public offering of 5,175,000 common shares in the capital of the Company (the "Common Shares") at the price of US$2.15 per Common Share (the "Offering Price") for gross proceeds of approximately US$11.1 million (the "Offering") that Roth Capital Partners, acting as sole book-running manager, and Raymond James Ltd. and Craig-Hallum Capital Group LLC acting as the co-lead book-running managers in the Offering, have purchased an additional 776,250 Common Shares at the Offering Price, for additional gross proceeds to the Company of US$1,668,937.50, before deducting the underwriting commissions, pursuant to their exercise in full of the over-allotment option (the "Over-Allotment Option").

Electrovaya Inc. Closes Full Exercise of Over-Allotment Option for an Additional US$1.7 Million

TORONTO, ON / ACCESSWIRE / December 18, 2024 / Electrovaya Inc. ("Electrovaya" or the "Company") (NASDAQ:ELVA)(TSX:ELVA), a leading lithium-ion battery technology and manufacturing company, has successfully closed its previously announced public offering (the "Offering") of 5,175,000 common shares in the capital of the Company (the "Common Shares") at a price to the public of US$2.15 per Common Share (the "Offering Price") for gross proceeds of approximately US$11.1 million, before deducting the underwriting discounts and commissions and estimated expenses incurred in connection with the Offering. Roth Capital Partners ("Roth") acted as sole book-running manager, and Raymond James Ltd.

Electrovaya Inc. Closes US$11.1 Million Public Offering of Common Shares

TORONTO, Dec. 17, 2024 (GLOBE NEWSWIRE) -- Electrovaya Inc. (“Electrovaya” or the “Company”) (NASDAQ: ELVA; TSX: ELVA), a leading lithium-ion battery technology and manufacturing company, announced today the pricing of its previously announced public offering (the “Offering”) of 5,175,000 common shares in the capital of the Company (“Common Shares”) at a price to the public of US$2.15 per Common Share.

Electrovaya Inc. Announces Pricing of US$11.1 Million Public Offering of Common Shares

TORONTO, ON / ACCESSWIRE / December 16, 2024 / Electrovaya Inc. ("Electrovaya" or the "Company") (Nasdaq:ELVA)(TSX:ELVA), a leading lithium-ion battery technology and manufacturing company, is proud to announce that its Infinity Series Lithium Ion Phosphate (LFP) based cell have successfully achieved UL2580 recognition. This milestone underscores the exceptional safety and reliability of Electrovaya's battery technology, meeting the rigorous safety standards set by UL2580, including the stringent external fire test (projectile test).

UL2580 Recognition for Electrovaya's Lithium Iron Phosphate Infinity Cell

Electrovaya Inc. (NASDAQ:ELVA ) Q4 2024 Earnings Conference Call December 12, 2024 5:00 PM ET Company Participants John Gibson - Chief Financial Officer Raj DasGupta - Chief Executive Officer Conference Call Participants Eric Stine - Craig-Hallum Amit Dayal - H.C. Wainwright Jeff Grampp - Alliance Global Daniel Magder - Raymond James Orin Hirschman - AIGH Investments Operator Greetings.

Electrovaya Inc. (ELVA) Q4 2024 Earnings Call Transcript

Revenue of $44.6M with $4M Adjusted EBITDA1 (6th Consecutive Positive Quarter) Historic Positive Cash Flow from Operations and Improved Gross Margins Approval of $51million direct loan from The Export-Import Bank of the United States expected to fund Electrovaya's lithium ion cell and battery manufacturing facility in Jamestown, New York Removal of Going Concern note in the financial statements due to improved financial performance TORONTO, ON / ACCESSWIRE / December 12, 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 the fourth quarter and fiscal year ended September 30, 2024 ("Q4 2024" & "FY 2024", respectively). All dollar amounts are in U.S. dollars unless otherwise noted.

Electrovaya Reports Fiscal Year 2024 Results

TORONTO, ON / ACCESSWIRE / December 6, 2024 / Electrovaya Inc. (NASDAQ:ELVA)(TSX:ELVA), a leading lithium-ion battery technology and manufacturing company, announces that it will file and release its fourth quarter and fiscal year ending September 30, 2024, following the market close on Thursday, December 12, 2024. This will be followed by a conference call at 5:00 p.m.

Electrovaya Announces Date for Q4 and FY-2024 Financial Results & Conference Call

TORONTO, ON / ACCESSWIRE / December 4, 2024 / Electrovaya Inc. ("Electrovaya" or the "Company") (NASDAQ:ELVA)(TSX:ELVA), a lithium ion battery technology and manufacturing company, today announced that it will host an investor webcast presentation on December 5, 2024 at 2:00 pm EST hosted by Bristol Capital. Electrovaya's CEO, Dr. Raj DasGupta and CFO, John Gibson will walk through the Company's corporate presentation.

Electrovaya to Host Investor Webcast on December 5, 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$4.1 million for immediate delivery of its batteries. The batteries will be used by a leading Fortune 500 retailer in the United States for powering material handling electric vehicles in two existing warehouse sites.

Electrovaya Receives Purchase Orders for Batteries From Fortune 500 Customer for Re-Powering Two Existing Distribution Centers

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 Provides a Shareholder Update including Unaudited Preliminary FY2024 Annual Financial Results and Positive Outlook for 2025

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.

Electrovaya Receives Follow On Orders for High Voltage Battery Systems from Global Aerospace and Defense Company Following Extensive Testing

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.

​​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

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 Receives US$3.5 million Order for Batteries for Use by Existing Fortune 100 Customer

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 Named One of Canada's Clean Technology Winners in Deloitte's Technology Fast 50TM Program

-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: https://www.meetmax.com/sched/event_110237/conference_home.html?bank_access=0&event_id=110237 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: https://www.ubs.com/global/en/investment-bank/ib-conferences/americas/global-industrials-transportation-conference/overview.html Investor and Media Contact: Jason RoyVP, Corporate Development and Investor RelationsElectrovaya Inc. jroy@electrovaya.com 905-855-4618 Brett MaasHayden IR elva@haydenir.com 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 to Attend Two Investor Conferences

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 Receives Funding from the Government of Canada

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 and Innovative Rail Technologies Enter into Strategic Supply Agreement for the Supply of Battery Systems for Electric Rail Applications

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 Receives Initial Purchase Orders from Global Japanese Construction Equipment Manufacturer

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 Inc. (ELVA) Q3 2024 Earnings Call Transcript

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").

Electrovaya Reports Third Quarter FY2024 Financial Results

TORONTO, ON / ACCESSWIRE / August 5, 2024 / Electrovaya Inc. (Nasdaq:ELVA)(TSX:ELVA), a leading lithium-ion battery technology and manufacturing company, announces that it will file and release its third quarter ending June 30, 2024, following the market close on Tuesday, August 13, 2024. This will be followed by a conference call at 5:00 p.m.

Electrovaya Announces Date for Q3-2024 Financial Results & Conference Call

Electrovaya's Infinity Technology has demonstrated effectiveness in preventing cell to cell propagation in two high voltage fire propagation tests. This showcases the technology's ability to make lithium ion batteries safer and prevent thermal runaway in battery systems TORONTO, ON / ACCESSWIRE / July 11, 2024 / Electrovaya Inc. ("Electrovaya" or the "Company") (NASDAQ:ELVA)(TSX:ELVA), a leading lithium-ion battery technology and manufacturing company, today announced that it completed and passed fire propagation testing on two of its high voltage battery systems, each with over 50kWh in capacity.

Electrovaya's High Voltage Battery System Passes Fire Propagation Testing

Development of a Lithium Ion Conducting Ceramic with leading performance; Development of an improved separator membrane that utilizes the in-house ceramics; Plan to start shipping prototypes to a major automaker this calendar year TORONTO, ON / ACCESSWIRE / June 13, 2024 / Electrovaya Inc. ("Electrovaya" or the "Company") (NASDAQ:ELVA)(TSX:ELVA), a leading lithium-ion battery technology and manufacturing company, today announced an update on its solid-state battery program at its annual Battery Technology Day event. Updates regarding Electrovaya's solid state battery program included the following: Development of a scalable and cost-effective lithium ion conducting ceramic that has demonstrated good performance: ionic conductivity in the range of ~8.10-4 S/cm; and work continues to further improve conductivity and scale up of production.

Electrovaya Announces Update to Its Solid-State Battery Development

Expanding Electrovaya's addressable market with the New Infinity LFP cells TORONTO, ON / ACCESSWIRE / June 12, 2024 / Electrovaya Inc. ("Electrovaya" or the "Company") (Nasdaq:ELVA)(TSX:ELVA), a leading lithium-ion battery technology and manufacturing company, today announced the launch of its first Infinity Series Lithium Ion Phosphate (LFP) based cell at its annual Battery Technology Day event. The newly developed EV-FP-44 cells, features LFP chemistry and retains the key competitive advantages of Electrovaya's Infinity technology with respect to enhanced cycle life and safety, while also providing lower costs.

Electrovaya Launches Lithium Iron Phosphate (LFP) Based Infinity Cell

Electrovaya Inc. (NASDAQ:ELVA ) Q2 2024 Earnings Conference Call May 14, 2024 8:00 AM ET Company Participants John Gibson - CFO Rajshekar DasGupta - CEO Conference Call Participants Eric Stine - Craig Hallum Craig Irwin - ROTH Capital Markets Amit Dayal - H.C. Wainwright Graham Price - Raymond James Orin Hirschman - AIGH Investment Partners Operator Greetings.

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