Electrovaya Inc. announced a new purchase order totaling $10.5 million from a Fortune 500 U.S. customer, covering its Infinity battery systems that power material‑handling electric vehicles at multiple distribution centers. The order was received through the company’s OEM sales channel, underscoring a partnership with a major manufacturer in the logistics sector.
The $10.5 million order represents about 17 % of Electrovaya’s projected annual revenue of more than $83 million for fiscal 2026. It also equals roughly 68 % of the company’s Q1 FY2026 revenue of $15.5 million, highlighting the order’s significance relative to recent quarterly performance. The deal adds a substantial revenue stream and reinforces the company’s growth trajectory in high‑value industrial markets.
Electrovaya’s Infinity battery technology is known for its safety, longevity, and high performance, attributes that have driven strong demand in the material‑handling sector. The new order aligns with the company’s strategy to expand its presence in industrial applications and supports its guidance for fiscal 2026, which remains above $83 million. The order also demonstrates the company’s ability to secure large contracts through its OEM channel, a key component of its go‑to‑market strategy.
"We are pleased to receive this latest order from a strategic customer. Electrovaya is proud to support our customers' shift toward safe and long‑lasting energy solutions for their logistics operations. Additional orders are also anticipated as they continue to advance their electrification strategy," said Dr. Jeremy Dang, Vice President of Business Development.
The market reacted positively to the announcement, with analysts noting the order’s size and the company’s continued momentum in the industrial battery space. The deal also highlights Electrovaya’s expanding manufacturing footprint, including a 52‑acre gigafactory site in Jamestown, New York, which positions the company to meet growing demand and qualify for U.S. incentives.
The content on EveryTicker is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.