Electrovaya (ELVA) investor relations material

Technology and product innovation

• Ceramic separator technology delivers unmatched safety and longevity, with over 40,000 batteries in operation and zero safety incidents.

• Third-party testing by UL and TÜV confirms safety and performance claims, with batteries offering up to 15,000 cycles compared to 4,000–5,000 for standard lithium-ion.

• Advancements include a next-gen separator 25% thinner, enabling potential entry into cylindrical cell markets.

• Fast charge cells for 800 V data center architectures and solid-state battery R&D are underway.

• Most IP is protected by patents and proprietary know-how, making replication difficult.

Market expansion and applications

• Opening a new manufacturing facility in Jamestown, NY, to serve U.S. and global markets, with support from local and federal programs.

• Batteries are used in material handling, robotics, airport ground support, energy storage, and defense, with blue-chip customers like Amazon, Walmart, and Home Depot.

• Energy storage systems target data centers and warehouses, offering rapid response to power peaks and qualifying for significant tax credits.

• Expansion plans include further penetration into Japan and Southeast Asia, leveraging partnerships with Sumitomo and others.

• Shipments have reached South America and Australia, with Europe presenting challenges due to price competition.

Financial performance and outlook

• Achieved $72 million in trailing 12-month revenue and $12 million adjusted EBITDA, with 13 consecutive quarters of positive EBITDA and six quarters of positive EPS.

• Secured CAD 51 million loan from Ex-Im Bank and $25 million ABL from Bank of Montreal to fund expansion.

• Qualifies for 45X and 48E tax credits, providing substantial cash inflows and leveling cost competitiveness.

• Transitioned from negative to positive cash flow, improving financial stability and enabling growth into new verticals.

• Material handling market expected to grow 10–15% over the next year, with further revenue opportunities as new industries are entered.