Electrovaya, li-ion battery manufacturer, receives purchase orders of US$10.6 million.
Electrovaya Inc. (“Electrovaya” or the “Company”) (TSX:EFL)(OTCQB:EFLVF) a lithium-ion battery manufacturer with differentiated intellectual property that allows heightened safety and improved longevity, announced that the Company recently received further purchase orders valued at about US$10.6 million.
The Company received a blanket purchase order from its OEM sales partner valued at more than US$9.4 million, and other purchase orders worth approximately US$1.2 million.
The blanket purchase order will be replaced by detailed purchase orders specifying the battery models and delivery sites. It represents a firm commitment for deliveries by the end of September2022.
It is anticipated that a major portion of the blanket purchase orders will be for a leading Fortune 100 company to power Materials Handling Electric Vehicles in distribution
centers in the US.
About Electrovaya Inc.
Electrovaya Inc. (TSX:EFL)(OTCQB:EFLVF) is a pioneering leader in the global energy transformation, focused on contributing to the prevention of climate change and decarbonization by supplying the safest and longest-lasting lithium-ion batteries.
Electrovaya, a technology-focused company with extensive IP, designs, develops, and manufactures proprietary lithium-ion batteries, battery systems, and battery-related products for energy storage, clean electric transportation, and other specialized applications.
To learn more about how Electrovaya is powering mobility and energy storage, please explorewww.electrovaya.com.
Forward -Looking Statements
This press release contains forward-looking statements relating to the deployment of the Company’s products by the Company’s customers, receipt of purchase orders, blanket purchase orders, and detailed purchase orders, and the timing for delivery thereof, and can generally be identified by the use of words such as “may”, “will”, “could”, “should”, “would”, “likely”, “possible”,
“expect”, “intend”, “estimate”, “anticipate”, “believe”, “plan”, “objective” and “continue” (or the negative thereof) and words and expressions of similar import.
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Electrovaya Receives Purchase Orders of US$10.6 million, Toronto, On., April 7, 2022
