Dr. Jeremy Dang reports

ELECTROVAYA RECEIVES US$3.5 MILLION ORDER FOR BATTERIES FOR USE BY EXISTING FORTUNE 100 CUSTOMER

Electrovaya Inc. has received a purchase order valued at approximately $3.5-million (U.S.) for immediate delivery of its batteries from one of its OEM (original equipment manufacturer) 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.

"We are delighted to announce this repeat order to supply this leading Fortune 100 e-commerce customer with our batteries," said Dr. Jeremy Dang, vice-president of business development at Electrovaya. "This customer has been the largest operator of our batteries to date, with more than 30 distribution centres. We are pleased to see additional order volume coming from this key global customer. It is a testament to our commitment to providing reliable, safe and long-lasting battery solutions."

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 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 for its planned gigafactory.

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