Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
What are everyone’s thoughts concerning capital gains with this marvelous investment
Electrovaya Provides a Business Update
Improved operational efficiency with increased manufacturing capacity; expansion of engineering capabilities; product updates; management open market share purchases
TORONTO, ON / ACCESSWIRE / September 21, 2023 / Electrovaya Inc. ("Electrovaya" or the "Company") (NASDAQ:ELVA)(TSX:ELVA), a leading lithium-ion battery technology and manufacturing company, today announced a business update.
Canadian Manufacturing Site Upgrades and Capacity Increase
Electrovaya has made incremental improvements in its manufacturing process, equipment and facilities over the last several months that have led to increased capacity and efficiency. The Company believes that the overall manufacturing capacity at its 6688 Kitimat Road location in Mississauga, Ontario has nearly doubled year to date, with an annual capacity of approximately US$130 million of battery systems. Given the capacity improvements, the Company continues to operate a single shift to meet its production goals. The Company believes that there are further optimizations available, including through additional automation and equipment, and intends to pursue these opportunities. Electrovaya has applied for Canadian government funding to support these potential further investments.
Expansion of Engineering Capabilities
Electrovaya is growing its engineering capabilities significantly. The Company expects that its engineering staffing will increase by approximately 50% in 2023, with most of the targeted additions on-boarded over the past three months. The additional staff brings expertise in many engineering disciplines, including firmware, software, mechanical engineering, industrial engineering and electrical engineering. With the expanded team, Electrovaya expects to have the capability to execute on additional OEM projects for both low-voltage and high-voltage applications, and to develop new products, from battery systems to value added software. The Company is also planning to hire additional staff to support cell manufacturing activities, and recently hired a General Manager for its Jamestown, New York facility.
Product and Project Updates
Electrovaya continues to execute on growing deliveries in the material handling vehicle industry. The Company recently made shipments to Australia, received its first orders from Asia, and received a new order from its largest Fortune 100 end user, which already uses the Company's batteries at 14 of its facilities and now plans to use them in a 15th. There continues to be strong interest in Electrovaya's newest high voltage offerings and are targeting the transit, mining, defense and other heavy duty vehicle applications. The Company is on track to ship its first pre-production systems this calendar year.
Management Share Purchases
Electrovaya's management team remains confident in the Company's ability to execute on its strategy and continue to build a strong and sustainable growth trajectory. Both Dr. Raj DasGupta, CEO, and John Gibson, CFO, have recently purchased shares on the open market, underscoring their confidence in the Company.
For more information, please contact:
Jason Roy
Director, Corporate Development and Investor Relations
Electrovaya Inc.
Telephone: 905-855-4618
Email: jroy@electrovaya.com
About Electrovaya Inc.
Electrovaya Inc. (NASDAQ:ELVA) (TSX:ELVA) is a pioneering leader in the global energy transformation, focused on contributing to the prevention of climate change by supplying safe and long-lasting lithium-ion batteries. The Company has extensive IP and designs, develops and manufactures proprietary lithium-ion batteries and battery systems for energy storage and heavy duty electric vehicles based on its Infinity Battery Technology Platform. This technology offers enhanced safety and industry leading battery longevity. The Company is also developing next generation solid state battery technology at its Labs division. Headquartered in Ontario, Canada, Electrovaya has two operating sites in Canada and has acquired a 52-acre site with a 135,000 square foot manufacturing facility in New York state for its planned gigafactory. To learn more about Electrovaya, please explore www.electrovaya.com.
Forward-Looking Statements
This press release contains forward-looking statements relating to announcements regarding planned growth, manufacturing capacity, manufacturing efficiency and further optimization, engineering and development capabilities including additional engineering staffing, planned production in Jamestown New York, ability to produce US$130 million of battery systems out of the Kitimat manufacturing site, overseas demand, cell performance, safety, cost of ownership, life cycle cost, and can generally be identified by the use of words such as "may", "will", "could", "should", "would", "likely", "possible", "expect", "intend", "estimate", "anticipate", "believe", "plan", "objective", "seed", "growing" and "continue" (or the negative thereof) and words and expressions of similar import. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. Certain material factors and assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements. Statements with respect to solid state batteries, battery technologies and production roadmaps, are based on an assumption that the Company's customers and users will deploy its products in accordance with communicated intentions, and the Company has investment capital to deploy. Important factors that could cause actual results to differ materially from expectations include but are not limited to macroeconomic effects on the Company and its business and on the Company's customers, including inflation and tightening credit availability due to systemic bank risk, economic conditions generally and their effect on consumer demand and capital availability, labor shortages, supply chain constraints, the potential effect of health based restrictions in Canada, the US and internationally on the Company's ability to produce and deliver products, and on its customers' and end users' demand for and use of products, which effects are not predictable and may be affected by additional regional outbreaks and variants, and other factors which may cause disruptions in the Company's supply chain and Company's capability to deliver and develop its products. Additional information about material factors that could cause actual results to differ materially from expectations and about material factors or assumptions applied in making forward-looking statements may be found in the Company's Annual Information Form for the year ended September 30, 2022 under "Risk Factors", and in the Company's most recent annual Management's Discussion and Analysis under "Qualitative And Quantitative Disclosures about Risk and Uncertainties" as well as in other public disclosure documents filed with Canadian securities regulatory authorities. The Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements contained in this document, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE: Electrovaya, Inc.
View source version on accesswire.com:
https://www.accesswire.com/786171/electrovaya-provides-a-business-update
Try reaching out to Jason Roy the IR guy he usually gets back to you quickly.
Good luck with that! Keep us posted if you get an update on Gigafactory.
Does anyone have the address of the facility in New York. I would like to get someone to go take a look at the physical building and see if anything is going on. Thanks in advance.....CWB
Electrovaya Inc. (NASDAQ: ELVA) (TSX: ELVA) Webcast | Planet MicroCap Showcase: VANCOUVER 2023
Warren Buffet Quote
“We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.”
I added on Friday while others were selling.
GLTA!!!
Calm Cool and collecting more is how I would describe myself.
If I owned 160000 shares as some people claim I sure would be puckered up and not in a good way
Not sure what is going on but am very happy with my investment. I am going to try and find someone near there New York facility to go check it out. Anyone have any ideas who i can get a hold of? From what I am hearing everything is going great for the company. Not real happy at the price but still think things will work out. I will continue to buy more as I get the money.
CWB
Electrovaya Inc. (NASDAQ:ELVA – Free Report) – Investment analysts at HC Wainwright issued their FY2023 earnings per share estimates for Electrovaya in a report issued on Wednesday, August 16th. HC Wainwright analyst A. Dayal anticipates that the company will post earnings of ($0.12) per share for the year. HC Wainwright currently has a “Buy” rating and a $16.00 price target on the stock. The consensus estimate for Electrovaya’s current full-year earnings is ($0.12) per share. HC Wainwright also issued estimates for Electrovaya’s Q4 2023 earnings at ($0.01) EPS, FY2024 earnings at $0.09 EPS, FY2025 earnings at $0.26 EPS, FY2026 earnings at $0.48 EPS and FY2027 earnings at $0.79 EPS.
Zacks Investment Research, Inc. initiates coverage for ELECTROVAYA ORD SHS with NEUTRAL recommendation.
Humpty Dumpty sat on a wall. Is the great fall just around the corner?
CC was very positive with a few analysts on it too. Hopefully, they put out some favorable reports.
GLTA!!!
Tick Tock Tick Tock Tick Tock............
Only a matter of time before we find out. Should be interesting.
CWB
Just going on past performance. This whole expansion is all based on the assumption that the government is going to GIVE them money. No free money and they cannot do anything. They have been listed on the market for several decades and they do not have enough money to finance a new car unless someone gives it to them. Don’t get me wrong, I hope the stock goes to the moon but that cannot realistically happen for several years and the family owns enough of the stock no one can buy them out for 2 reasons.
1. They family is already wealthy and they do not need the money
2. The old man’s arrogance at making the company work will not let that happen
Again, I hope this works for everyone just have my reservations
How do you see this company market cap at $33M? @ $1 a share? Why even post that? Whats the reason?
The q results are due out August 14. I hope they are good and maybe get some announcement of new business. Still hopeful but we will see
$6 incoming!! Earnings come up which will be stellar. I also noted two new job postings on LinkedIn for Toronto. Expecting we’ll see hiring in NY as well.
Fully agree with the upside with this one. Profitability is in place and now they’ll expand output with the Jamestown facility. Larger orders will come in and this company will be a prime target for being acquired by one of the big boys. I own 40k shares and anticipating we’re at $10 before year-end.
I am holding over 160,000 shares and adding as I can. Trying to get to 200,000 (1 million pre split) If you ask me why I will list a few reasons.
1. The last quarter they became profitable
2. They said they thought they will remain profitable from here on out.
3. They said before the end of the year they will have sales from the Jamestown facility.
4. They are in a good percentage of the fortune 500 companies.
5. They have one of the best (maybe the best) batteries in the business.
6. They are one of the few battery company's that are profitable.
There are a few down sides to this company but not as many as the upsides.
CWB
https://finance.yahoo.com/news/electrovaya-launches-infinity-hv-battery-120500591.html
I am holding approx. 6000 shares after the reverse split and I have to ask again why am I holding this. This has the possibility of becoming the quickest listing/delisting in history. At $1 they will be given the 30 day notice
When is the Q due? They usually put something out right after it ends. I bought 2000 more shares today. I will buy more tomorrow if it falls more.
CWB
The best kept secret on the NASDAQ. ELVA.
ELVA news article just popped up on yahoo quotes…1st ELVA article on Nasdaq….
ELVA news article just popped up on yahoo quotes…1st ELVA article on Nasdaq….
Stock went straight up yesterday from 4.88 and shot up more after hours.…..Article came out today. Hmmmmmm…..Oh well, Wake me up at $15.
It was just a news article that came out today. I wish our PRs would reach a wider audience. For example it doesn’t show up in my TD Ameritrade account under stock news. It should.
Nice catch! Thanks. But how did other investors know early….. :(
News out today. Launch of new line of batteries for large vehicles. Will have positive impact on 2023 earnings. Wow. Already manufacturing in the NY plant. Way to go ELVA! Happy about this. Here’s the link to stocktwits. https://stocktwits.com/TeachersEdition/message/536762449
Nice spike on Volume n price today…Any news i missed?
It's coming for sure.. Toyota is all about this company and they would be a great suitor for buyout. However i don't think it's for sale on the short term. JMHO
$1.27 Friday after hours close……Congrats longs….Held up R/S and Nasdaq listing…Creeping up, great volume on low float…Winner Winner , chicken dinner….Any news on the Nasdaq and we’re up another $1…..Need to get the 3,000,000 mile, 27yr battery out there….For the $15-$20 that we’re worth…
No but a good question for your investment broker. Calls forward could be a good strategy. I think the company has a lot going on with Toyota and their on going business with Raymond that things are going to heat up now that we are on the NAZ.
Anyone know when options will come available?
Awesome, I wonder what tomorrow brings, finished at 5.25 after hours.
This is awesome.
Electrovaya to ring the closing bell at the Nasdaq Stock Market on Thursday, July 6, 2023 from 3:45 p.m. to 4:00 p.m. ET, in celebration of its listing. Dr. Raj DasGupta, CEO, will ring the Closing Bell alongside members of the Electravaya family. The bell ringing event can be viewed on Nasdaq.com live stream at: https://livestream.com/accounts/27896496/events/10885184
Thrilled with the action today. Low float. Profitable. Revenues doubling. What’s not to like? This was a good move for the company and for us longs.
Great 1st day on the NASDAQ! Moving on price and volume! Is this going to be a turnaround for us longs, I hope we get some more good news from the company. Raj is starting to keep his word.
EFLVF changed to ELVA. Moved to the Nasdaq from the OTC:
https://otce.finra.org/otce/dailyList?viewType=Deletions
ELVA. MFH55
Re: None
Thursday, 07/06/2023 8:44:17 AM
Welcome all to the new board…..Now that we are on Nasdaq…. :)
(Started ELVA board)….
TEST !!!!!! She trading premarket folks!!! Sell 10 Shares of ELVA Limit at $6.60 (Day)
Filled at $6.76........Test!!! Trading premarket !!!!!
Today is the day !!! Ringing the Nasdaq bell at close !!!! GLTA…..
Electrovaya: Old School Battery Company With A New Twist
Buy recommendation from Seeking Alpha, NorEast Invest
https://seekingalpha.com/article/4615296-electrovaya-old-school-battery-company-new-twist
Followers
|
25
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
1407
|
Created
|
05/16/15
|
Type
|
Free
|
Moderators |
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |