Mergers & Acquisitions ·
Electrovaya signs $26M supply deal with Janus Electric and invests $1.4M in equity
ELVAElectrovaya Inc.
Electrovaya has entered into a strategic supply agreement with Janus Electric for approximately $26 million in initial purchase orders of lithium-ion battery systems to support Class 8 heavy-duty truck conversions in the United States and Canada. Deliveries are now underway as Electrovaya supports Janus's North American customer deployments. Additionally, Electrovaya agreed to invest approximately US$1.4 million in Janus for up to 4.2 million shares and warrants, subject to customary conditions including ASX quotation. The company is also expanding its manufacturing capacity at its Jamestown, New York facility, expected to come online during the 2027 fiscal year. Electrovaya designs, develops, and manufactures proprietary lithium-ion batteries for clean electric transportation and energy storage.