Electrovaya Receives Purchase Orders for Batteries From Fortune 500 Customer for Re-Powering Two Existing Distribution Centers
This purchase order, valued at $4.1million, represents the start of the customer’s fleet conversion strategy with another four additional sites being planned
TORONTO, ON / ACCESSWIRE / December 3, 2024 / Electrovaya Inc. (“Electrovaya” or the “Company”) (NASDAQ:ELVA)(TSX:ELVA), a leading lithium-ion battery technology and manufacturing company, today announced it has received a purchase order valued at approximately US$4.1 million for immediate delivery of its batteries. The batteries will be used by a leading Fortune 500 retailer in the United States for powering material handling electric vehicles in two existing warehouse sites. Additional sites are also being planned for conversion on top of the two orders received.
Dr. Jeremy Dang, Vice President of Business Development at Electrovaya, said :
We are very pleased to announce this repeat order with a leading retailer and more importantly, to elevate this relationship towards achieving their energy efficiency initiatives,
“This customer has been one of the largest users of our batteries since 2022 with over 1000 batteries in operation and with further intentions to re-power additional distribution centers’ fleets in 2025. This order is a testament of Electrovaya’s commitment to providing industry leading battery solutions to our customers.”
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Electrovaya Receives Purchase Orders for Batteries From Fortune 500 Customer for Re-Powering Two Existing Distribution Centers, source
