Repeat order represents over $12 million in purchases by this customer over the last 12 months for material handling electric vehicle batteries

TORONTO, ON / ACCESSWIRE / November 7, 2023 / Electrovaya Inc. ("Electrovaya" or the "Company") (NASDAQ:ELVA)(TSX:ELVA), a leading lithium-ion battery technology and manufacturing company, today announced the receipt of a battery purchase order through one of its OEM sales channels valued at over US$8 million. The batteries will be used by a leading Fortune 100 company in the United States for material handling electric vehicles.

"We are delighted to announce a significant repeat order with this leading Fortune 100 retail customer," said Dr. Jeremy Dang, Vice President of Business Development at Electrovaya. "This deal is a testament to Electrovaya's commitment to providing reliable solutions at the lowest total cost of ownership for our customers and further demonstrates the effectiveness of the Infinity battery technology with its outstanding safety and longevity. Given this accelerated pace of ordering, we anticipate that this Fortune 100 company could become Eletrovaya's third largest user for material handling electric vehicles."