Dr. Jeremy Dang reports

ELECTROVAYA RECEIVES ADDITIONAL US$4.2 MILLION BATTERY ORDER FOR EXISTING COLD STORAGE OPERATOR

Electrovaya Inc. has received a purchase order through its OEM (original equipment manufacturer) sales channel valued at approximately $4.2-million (U.S.). The batteries will be used by a rapidly growing cold-storage third party logistics operator in the United States for powering material-handling electric vehicles. The end-user currently operates six facilities with Electrovaya's Infinity battery technology.

"We are delighted to share news of a repeat order with this end-user," said Dr. Jeremy Dang, vice-president of business development at Electrovaya. "This customer values leading-edge technology solutions and has been one of the largest users of our batteries since 2023. We expect continued plans to provide power solutions to existing and new facilities."

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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