Dr. Raj DasGupta reports

ELECTROVAYA WINS ORDERS FROM SECOND GLOBAL JAPANESE HEADQUARTERED CONSTRUCTION EQUIPMENT OEM

Electrovaya Inc. has received an order from a second global construction OEM (original equipment manufacturer) through its partnership with Sumitomo Corp. Power & Mobility (SCPM), a 100-per-cent subsidiary of Sumitomo Corp. This order is for high-voltage battery systems for a leading global Japanese-headquartered construction equipment manufacturer. The orders were placed under Electrovaya's existing supply agreement with SCPM and will be delivered in Japan in 2025.

"We are excited to have a second major construction equipment OEM win in addition to both overall increased traction in the Japanese market and expansion of new verticals for our products," said Dr. Raj DasGupta, chief executive officer of Electrovaya. "We believe that our competitive advantages with respect to safety and cycle life continue to provide a key benefit for heavy-duty electrified applications."

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 without compromising energy and power. The company has extensive IP (intellectual property); and it designs, develops and manufactures proprietary lithium-ion batteries, battery systems and battery-related products for energy storage, clean electric transportation and other specialized applications. Electrovaya has two operating sites in Canada and a 52-acre site with a 137,000-square-foot manufacturing facility in Jamestown, N.Y., for its planned gigafactory.

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