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Electrovaya Inc (2)
Symbol ELVA
Shares Issued 47,964,097
Close 2026-04-02 C$ 11.26
Market Cap C$ 540,075,732
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Electrovaya, university to develop energy system

2026-04-02 17:22 ET - News Release

Dr. Raj DasGupta reports

ELECTROVAYA COLLABORATES ON U.S. DEPARTMENT OF ENERGY-FUNDED PROJECT TO ADVANCE ENERGY STORAGE FOR CRITICAL INFRASTRUCTURE

Electrovaya Inc. has participated in a U.S. Department of Energy-funded project led by Binghamton University to develop and demonstrate a next-generation energy storage system for critical infrastructure applications.

The project, supported by a $5-million award from the U.S. Department of Energy under its critical facility energy resilience program, will focus on the design and deployment of a 1.2-megawatt-hour battery system. The system will be installed at Binghamton University's Center for Energy-Smart Electronic Systems and integrated into a data centre test environment.

Electrovaya will contribute its proprietary infinity battery technology, known for its industry-leading safety and cycle life, to support the development of life cycle cost-optimized domestically sourced energy storage solutions optimized for mission-critical applications such as data centres.

Select project highlights:

  • Data centre integration: deployment in a real-world data centre environment to demonstrate peak shaving, backup power and load management capabilities;
  • Safety and reliability focus: utilization of Electrovaya's infinity battery technology to deliver enhanced safety, thermal stability and extended cycle life;
  • Domestic supply chain alignment: supports United Staates-based energy storage innovation and strengthens domestic battery ecosystem development;
  • Scalable architecture: designed as a replicable model for broader deployment across data centres and other high-demand applications.

"This project represents an important step forward in demonstrating how advanced battery systems can support the rapidly growing energy demands of data centres and other critical infrastructure, while using domestic supply chains," said Dr. Raj DasGupta, chief executive officer of Electrovaya. "We are delighted to partner with the University of Binghamton and other leading partners for this project. With increasing electrification and AI-driven load growth, there is a clear need for safe energy storage solutions that can enhance grid resilience while reducing peak demand pressures. Electrovaya's technology is well positioned to address these challenges through its proven safety record and long cycle life."

The project brings together a consortium of industry and research partners, including Electrovaya, LiiON, Eaton Corp. and the Pacific Northwest National Laboratory, leveraging expertise across battery technology, power systems and grid integration.

The initiative also aligns with broader efforts to build resilient and scalable energy systems in the United States, particularly as electricity demand from artificial intelligence and digital infrastructure continues to accelerate.

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 material expertise to deliver durable, high-value battery solutions to global original equipment manufacturers 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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