Dr. Jeremy Dang reports

ELECTROVAYA RECEIVES ADDITIONAL US$4.5 MILLION IN NEW ORDER FROM FORTUNE 100 CUSTOMER

Electrovaya Inc. has received new purchase orders totalling approximately $4.5-million (U.S.) through its OEM sales channel.

The orders are for a leading Fortune 100 e-commerce company in the United States and Canada and are for Electrovaya's Infinity battery systems used to power material handling electric vehicles at multiple distribution centres. This latest order follows previously announced purchases for the same end customer earlier in the fiscal year, bringing total demand from this customer to over $20-million (U.S.) to date in fiscal 2025.

"We are thrilled to receive another round of repeat orders from a globally recognized customer," said Dr. Jeremy Dang, vice-president of business development at Electrovaya. "With this latest shipment, the end-user will have deployed over 2,800 Infinity battery systems across over 50 distribution centres in three countries spanning two continents."

Dr. Dang added: "Electrovaya is proud to support our customer's transition to clean, safe and durable energy solutions for their logistics operations. Additional orders are currently under consideration as part of their continued electrification strategy."

Electrovaya's Infinity battery systems are engineered for demanding, high-duty-cycle applications, offering superior safety, longevity and performance for industrial electric vehicle fleets.

About Electrovaya Inc.

Electrovaya 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 (intellectual property) 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. This technology offers enhanced safety and industry-leading battery longevity. The company is also developing next-generation solid-state battery technology at its labs division. Headquartered in Ontario, Canada, Electrovaya has two operating sites in Canada and has acquired a 52-acre site with a 135,000-square-foot manufacturing facility in New York State for its planned gigafactory.

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