Electrovaya Expands Market Focus as Jamestown Battery Plant Approaches Launch
Electrovaya is preparing to open its first U.S. battery manufacturing facility in Jamestown, New York, with commercial production expected by late March or early April 2027. The company has secured a CAD$51 million loan from the Export-Import Bank of the United States and anticipates annual tax credits under Section 45X worth approximately CAD$10 million. The firm is expanding beyond its traditional forklift battery market into data-center energy storage, robotics, airport ground-support equipment, and defense. A new high-voltage system designed for rapid power balancing will be delivered after the Jamestown plant becomes operational. Electrovaya emphasizes safety and longevity in its lithium-ion batteries using ceramic separators instead of polymer ones to prevent thermal runaway. The company reported $72 million in trailing-12-month revenue, with 13 consecutive quarters of positive adjusted EBITDA at $12 million annually.
Topics: battery manufacturing data centers defense contracts energy storage