Dr. Jeremy Dang reports

ELECTROVAYA RECEIVES $10.5 MILLION P.O FROM FORTUNE 500 CUSTOMER

Electrovaya Inc. has received new purchase orders totalling approximately $10.5-million through its OEM (original equipment manufacturer) sales channel.

These orders are for a Fortune 500 United States-based customer and cover Electrovaya's Infinity battery systems, powering material handling electric vehicles at multiple distribution centres.

"We are pleased to receive this latest order from a strategic customer," said Dr. Jeremy Dang, vice-president of business development at Electrovaya.

Dr. Dang added: "Electrovaya is proud to support our customers' shift toward safe and long-lasting energy solutions for their logistics operations. Additional orders are also anticipated as they continue to advance their electrification strategy."

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

About Electrovaya Inc.

Electrovaya is a technology-driven lithium-ion battery company commercializing its proprietary infinity battery technology, designed for superior safety, longevity and performance in mission-critical industrial, robotics, defence and energy-storage applications. The company leverages a strong intellectual-property portfolio and advanced materials expertise to deliver durable, high-value battery solutions to global OEMs and end users. To support growing demand and advancing energy security and national security objectives, Electrovaya is expanding U.S. manufacturing through its 52-acre Jamestown, N.Y., site, which includes a 137,000-square-foot facility planned as its first gigafactory. Electrovaya also operates two Canadian sites focused on research, engineering and product commercialization.

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