on Electrovaya, Inc. (NASDAQ:ELVA)
Electrovaya Secures $26 Million Supply Deal with Janus Electric
Electrovaya Inc., a lithium-ion battery manufacturer, has announced a strategic supply agreement with Janus Electric Holdings Limited. This involves approximately $26 million in initial orders for Electrovaya's battery systems, addressing demands for Janus's diesel-to-electric truck conversions in North America.
Class 8 trucks, significant diesel consumers, are being electrified, posing a crucial challenge for battery technology. Janus's solution involves converting diesel trucks to electric, supported by battery-swapping systems. Electrovaya's batteries, known for safety and long life, align with this model.
Janus holds orders for 118 truck conversions. Electrovaya's manufacturing facility in Jamestown, New York, is expanding to support these demands. The partnership represents a major step forward in heavy-duty vehicle electrification.
R. P.
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