Recent Updates — ELVA

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.

Electrovaya Inc. provided a business update indicating that unaudited fiscal 2026 revenue is expected to reach approximately $71 million, marking a record year despite macroeconomic headwinds. The company reported that Factory Acceptance Testing for its Jamestown, New York module manufacturing equipment has been completed and accepted for delivery, while cell equipment testing continues. Additionally, Electrovaya appointed Kris Kuzniewski as Vice President of Data Center Sales to lead the ElvaPulse™ stationary energy storage product line. Audited results under U.S. GAAP are expected in early December 2026.

Electrovaya Inc. is a lithium-ion battery technology and manufacturing company focused on energy storage and clean electric transportation.

Electrovaya Inc. filed a management information circular for its annual general meeting on February 27, 2026, proposing two key resolutions. First, shareholders are asked to authorize the company's domestication from Ontario, Canada, to Delaware, USA, to improve access to US capital markets and avoid Passive Foreign Investment Company (PFIC) tax status. Second, the board seeks approval to increase the maximum number of common shares issuable upon exercise of stock options by 2,000,000, raising the total authorized pool from 7,000,000 to 9,000,000 shares. The company operates in the battery energy storage and electric vehicle components industry.

Electrovaya Inc. reported unaudited financial results for the nine months ended June 30, 2026, showing revenue growth to $51.3 million from $43.3 million in the prior year period and a net profit of $2.4 million compared to $1.3 million previously. The company revised its full-year fiscal 2026 normalized revenue guidance downward to approximately $70–$73 million, citing timing delays in customer programs and material handling pushouts. During the period, Electrovaya raised approximately $28.1 million through a public offering of common shares at $5.20 per share and exercised warrants for an additional $1.2 million. Cash balances increased to $13.1 million as of June 30, 2026. The company operates in the lithium-ion battery technology sector, designing and manufacturing advanced battery cells, modules, and systems for energy storage and electric transportation.