Electrovaya Inc. is a developer and manufacturer of lithium-ion battery systems and energy storage solutions. The company operates through a single business segment focused on power technology products, generating the entirety of its revenue from the sale of batteries, battery systems, and related accessories. Electrovaya's core market is the material handling sector, where its products are used to power electric vehicles such as warehouse forklifts and automated guided vehicles (AGVs). The company is also expanding its applications into adjacent heavy-duty markets, including robotics, airport ground support equipment, defense, and stationary energy storage.
Electrovaya's business model centers on its proprietary Infinity Battery Technology Platform, which utilizes a patented ceramic separator designed to improve safety and cycle life in industrial applications. The company generates the majority of its revenue from a concentrated group of large enterprise customers, with two major clients accounting for over 80% of total sales. Geographically, Electrovaya is headquartered in Mississauga, Canada, where it conducts research, engineering, and initial commercialization. To support growing demand and scale its operations, the company is developing a major manufacturing facility in Jamestown, New York, which will serve as its primary plant for producing both battery cells and systems for the North American market.
