Electrovaya Inc. – a lithium-ion battery manufacturer with differentiated intellectual property that allows heightened safety and improved longevity – has 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 September 2022. 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.
Electrovaya Inc. 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