Dr. Jeremy Dang reports

ELECTROVAYA RECEIVES PURCHASE ORDERS FOR BATTERIES FROM FORTUNE 500 CUSTOMER TO RE-POWER THREE EXISTING DISTRIBUTION CENTERS

Electrovaya Inc. has received a purchase order valued at approximately $8.7-million (U.S.). The batteries will be used by a leading Fortune 500 retailer in the United States for powering material-handling electric vehicles in three existing warehouse sites. This order followed a recent $4.1-million order from the same end customer for two distribution centres that was placed in December, 2024. Additional sites are also being planned for conversion on top of these new orders.

"We are again very pleased to announce another round of orders with a leading discount retailer and to continue to support their energy efficiency initiatives," said Dr. Jeremy Dang, vice-president of business development at Electrovaya. "This customer has been one of the largest users of our batteries since 2022, with nearly 1,500 batteries in operation and with further ambition to repower additional distribution centres' fleets in 2025 and 2026 with the industry's best-in-class 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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