Electrovaya
Electrovaya is a publicly traded Canadian lithium-ion battery technology company that designs and manufactures its proprietary Infinity Battery platform with a ceramic composite separator, serving Fortune 500 industrial OEMs and operators across material handling, robotics, defense, airport GSE, construction equipment, and stationary energy storage.
- Company typePublic
- Founded1996
- HeadquartersMississauga, Canada
- Headcount101–250
- GTM typeB2B
- OfferingHardware or Manufacturing
What Electrovaya does
Electrovaya Inc. is a Canadian-headquartered, publicly traded (NASDAQ: ELVA; TSX: EFL) lithium-ion battery technology and manufacturing company founded in 1996, headquartered in Mississauga, Ontario. It commercializes a proprietary Infinity Battery Technology platform built around a patented full-cell ceramic composite separator architecture designed for safety, long cycle life, and high-duty-cycle performance in mission-critical industrial environments. The product portfolio spans low-voltage and high-voltage battery modules, Battery Energy Storage Systems (BESS) for stationary and data center applications, airport ground support equipment (GSE) systems, automated guided vehicle (AGV) systems, walkie pallet jack batteries, and an emerging solid-state battery architecture targeting commercialization around 2027. Supporting the hardware is the Evision cloud-based battery analytics platform and a proprietary intelligent Battery Management System (iBMS). The company is also developing ultra-fast charging anode technology targeting approximately five-minute charge times.
Electrovaya serves industrial customers across material handling (the primary vertical), robotics, defense, energy storage, construction equipment, airport GSE, and heavy transport electrification. Named end customers include 44 Fortune 500 companies (16 Fortune 100), a Fortune 100 e-commerce customer representing over $20M of FY2025 sales, a Fortune 500 U.S.-based customer with a $10.5M purchase order, a global defense contractor, a major U.S. airline, and a global Japanese construction equipment OEM. The company has deployed 10,000+ Infinity Battery systems across 300+ operating sites with a reported perfect safety record (zero thermal incidents) and holds 100+ patents. Revenue is generated primarily through direct hardware sales of battery systems to OEM partners and Fortune 500 enterprise fleets, supplemented by an expanding aftermarket and Energy-as-a-Service recurring revenue program.
The business model is anchored by an enterprise field sales motion targeting OEMs and large industrial end-customers, complemented by channel partnerships (notably Sumitomo Corporation Power & Mobility for Japan/APAC and Janus Electric for diesel-to-electric truck conversions) and direct OEM embedded sales. Manufacturing is being scaled through the 52-acre Jamestown, New York gigafactory (137,000 sq ft facility, assembly commenced 2025, full cell production targeted mid-2026) alongside two Canadian facilities for engineering, R&D, and low-voltage assembly. The company achieved its first profitable fiscal year in FY2025 with $63.8M revenue (up 43% YoY), $8.8M adjusted EBITDA, and $3.3M net income, with FY2026 guidance exceeding $83M.
Electrovaya firmographics
Firmographics- Name
- Electrovaya
- Legal name
- Electrovaya Inc.
- Website
- https://electrovaya.com
- Company type
- Public
- Founded year
- 1996
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Electrovaya is a publicly traded Canadian lithium-ion battery technology company that designs and manufactures its proprietary Infinity Battery platform with a ceramic composite separator, serving Fortune 500 industrial OEMs and operators across material handling, robotics, defense, airport GSE, construction equipment, and stationary energy storage.
- Ownership category
- akta.pro rank
Electrovaya industry classification
Industry- Product category
- Industrial Battery Systems
- NAICS
- Battery Manufacturing (33591), Battery Manufacturing (335910)
- SIC
- Electronic & Other Electrical Equipment (No Computer Equip) (3600), Electrical Industrial Apparatus (3620)
- akta.pro primary industry
- Battery Modules & Packs (Industrial/Commercial pack assembly) (IMAGAHAB)
- akta.pro secondary industries
- Battery Cells (Li-ion, LFP, Sodium-ion, Lead-acid, NiMH) (IMAGAHAA), Battery Pack Manufacturing & Module Assembly (EUAFABAI), Battery Management Systems (BMS) & Pack Electronics Manufacturing (EUAFABAJ)
Keywords
Where Electrovaya is headquartered
LocationHeadquarters
- HQ city
- Mississauga
- HQ country
- Canada
- HQ region
- North America
Offices4 records
Markets served
Electrovaya business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Personnel, Technology or R&D, Operations, Marketing or Sales
Revenue model
- Battery System Sales: Direct sales of Infinity lithium-ion battery systems for material handling vehicles, robotics, defense applications, and industrial equipment. Revenue generated from OEM integrations and aftermarket replacements. Multiple Fortune 500 customers and global OEMs purchasing battery systems for fleet electrification.
- Energy-as-a-Service: Recurring revenue program expanding to include energy storage deployments with battery energy storage systems (BESS) for data centers and critical infrastructure applications.
- Aftermarket Services: Expansion of recurring revenue programs including SaaS and aftermarket services for battery systems deployed in the field.
- Battery Module Sales: Custom battery module sales to Japanese construction equipment OEMs through Sumitomo Corporation Power & Mobility partnership. New NMC-based 51Ah cell format with proprietary Infinity technologies.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Multi-year contract | Walkie Pallet Jack Battery Systems |
Go-to-market motion3 records
Distribution channels5 records
Marketing channels6 records
Electrovaya product offering
Product offeringCore offering
Electrovaya designs, develops, and manufactures lithium-ion battery systems for industrial applications, including material handling equipment, automated guided vehicles (AGVs), airport ground support equipment (GSE), walkie pallet jacks, and stationary battery energy storage systems (BESS). The company also offers a cloud-based battery analytics software platform (Evision) and is advancing solid-state battery technology for future commercialization.
Product overview
Electrovaya is a lithium-ion battery technology and manufacturing company that commercializes its proprietary Infinity Battery Technology platform. The core Infinity platform is a patented ceramic-separator-based lithium-ion architecture engineered for superior safety, longevity, and high-duty-cycle performance in mission-critical industrial environments. The product portfolio is organized around the Infinity platform with distinct product modules: Low Voltage (LV) and High Voltage (HV) battery modules for industrial vehicles; Battery Energy Storage Systems (BESS) for stationary grid and data center applications; Airport Ground Service Equipment (GSE) battery systems; AGV (Automated Guided Vehicle) battery systems for robotics and autonomous vehicles; and Walkie Pallet Jack battery systems for Class III material handling vehicles. The company is also developing Solid State Battery Technology as a next-generation architecture targeting commercialization around 2027. Supporting the hardware portfolio is the Evision cloud-based battery analytics platform. Electrovaya operates a 52-acre Jamestown, New York gigafactory and two Canadian sites for research, engineering, and manufacturing.
Differentiator
Problem solved
Functional benefit
Brands
- Infinity Battery Technology: Proprietary lithium-ion battery technology platform with ceramic separator offering enhanced safety, long cycle life, and reliable performance for mission-critical industrial applications
- Infinity Battery Modules
- Evision
Products and services
- Infinity Battery Modules - Low Voltage (LV)
Quantifiable outcome
- 10,000+ Infinity Battery systems deployed with perfect safety record
- +4 more outcomes
Companies that use Electrovaya
Customer profileNamed customers8 records
Segments7 records
Ideal customer profiles2 records
Electrovaya technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature7 records
Electrovaya partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered core and minor.
- Binghamton University (Center for Energy-Smart Electronic Systems)core$5 million DOE CiFER award project to develop 1.2 MWh battery energy storage system for data center test environment. Demonstrates peak shaving, backup power, and load management capabilities. Electrovaya supplies Infinity Battery Technology for the project.
- Janus ElectriccoreSupply agreement for swappable battery packs for Class 8 electric trucks through Janus Electric's diesel-to-electric conversion platform. Targeting Australian and North American markets with battery swapping technology for heavy transport electrification.
- Sumitomo Corporation Power & MobilitycoreStrategic partnership for sales and distribution in Japanese market. Facilitates customer support, technical integration, and business development for Electrovaya's battery technology. First shipment of custom battery modules delivered to Japanese construction equipment OEM through this partnership.
- Raymond CorporationcoreMaterial handling equipment OEM partnership. Electrovaya supplies high-voltage battery systems integrated into Raymond's electric forklifts and material handling equipment.
- Multiple Robotics OEMscoreThree leading robotics OEMs with battery system products for robotic vehicle platforms. Initial commercial orders received with scale-up expected in fiscal 2026.
- GreenlaneminorInfrastructure partnership for charging station development at Colton logistics precinct in support of Janus Electric truck electrification deployments.
Scale indicators22 records
Recent moves9 records
Expansion highlights7 records
Electrovaya competitors and assessment
Company assessmentDirect peers
- EnerSys: Global leader in industrial batteries including motive power (forklifts/material handling), reserve power, and aerospace/defense. Most direct competitor to Electrovaya in lithium-ion and lead-acid forklift battery systems serving the same Fortune 500 enterprise customer base.
- Flux Power: US-based designer and manufacturer of lithium-ion energy storage solutions for material handling (forklifts, walkies, AGVs), industrial, and stationary applications. Closest US pure-play peer to Electrovaya's flagship material handling and walkie pallet jack product lines.
- Microvast: Designer, manufacturer, and commercial provider of lithium-ion battery solutions for commercial vehicles, industrial equipment, and energy storage. Comparable in vertical integration across cell, module, pack, and BMS, serving overlapping commercial vehicle and ESS end markets.
- Our Next Energy (ONE): Michigan-based battery technology company developing cells and packs for EVs and stationary storage with emphasis on safety, range, and energy density. Comparable in emphasizing proprietary cell chemistry (LFP, dual-chemistry) for industrial and storage customers, with similar BESS exposure.
- Kokam: South Korean manufacturer of lithium-ion battery cells and packs for UPS, military, marine, and industrial applications. Direct comparable in mission-critical, high-safety industrial and defense battery systems with proprietary cell technology.
Broad incumbents
- East Penn Manufacturing: Privately held US manufacturer of lead-acid and lithium-ion batteries for industrial, automotive, and motive power applications including forklifts. A broader incumbent in the same material handling/motive power customer set, increasingly competing on lithium-ion forklift products.
- BYD: Vertically integrated Chinese battery and EV giant producing lithium-iron-phosphate cells, packs, and full vehicles. While much larger, BYD supplies battery products into commercial vehicle, ESS, and industrial markets that overlap with Electrovaya's expansion vectors.
- CATL: World's largest lithium-ion battery manufacturer producing cells, modules, packs, and BESS for EVs, industrial, and grid storage. Broad incumbent whose scale, cost, and LFP chemistry dominance set the competitive baseline for industrial battery markets where Electrovaya competes.
- LG Energy Solution: Major global lithium-ion battery cell manufacturer supplying automotive, ESS, and industrial markets. Electrovaya is recruiting senior engineering staff from LG Energy Solution (per hiring notes), and LG's ESS/industrial product lines compete in adjacent stationary storage segments.
Emerging players
- Solid Power: Colorado-based developer of sulfide-based solid-state battery cells for automotive and industrial applications. Direct comparable to Electrovaya's emerging solid-state program in technology focus (solid-state architecture), though targeting different chemistries.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Electrovaya social profiles
Digital presenceElectrovaya compliance and trust
Trust signalCompliance2 records
Electrovaya financial estimates
Financial estimateRevenue estimate
Valuation estimate
Electrovaya leadership team
Management profileNumber of profiles
Profiles9 records
Electrovaya subsidiaries and ownership
Company hierarchySubsidiaries1 record
Electrovaya funding detail
Funding detailFunding overview
Funding rounds20 records
Investors6 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Electrovaya M&A and investment
M&A and investmentM&A2 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Electrovaya
What does Electrovaya do?
Electrovaya designs, develops, and manufactures lithium-ion battery systems for industrial applications, including material handling equipment, automated guided vehicles (AGVs), airport ground support equipment (GSE), walkie pallet jacks, and stationary battery energy storage systems (BESS). The company also offers a cloud-based battery analytics software platform (Evision) and is advancing solid-state battery technology for future commercialization.
Is Electrovaya a public or private company?
Electrovaya is a public company. It is classified as public and is currently operating.
When was Electrovaya founded?
Electrovaya was founded in 1996. It employs 101 to 250 people.
Where is Electrovaya based?
Electrovaya is headquartered in Mississauga, Canada, in the North America region.
How does Electrovaya make money?
Four revenue lines are on record. Battery System Sales are the primary driver. The others are energy-as-a-Service, aftermarket Services and battery Module Sales.
Who are Electrovaya's main competitors?
Direct peers on record are EnerSys, Flux Power, Microvast, Our Next Energy (ONE) and Kokam. Broad incumbents are East Penn Manufacturing, BYD, CATL and LG Energy Solution. Solid Power is listed as an emerging player.
Does Electrovaya have an API?
No public API is recorded for Electrovaya.
What industry is Electrovaya in?
Electrovaya's product category is Industrial Battery Systems. Its primary akta.pro industry code is IMAGAHAB, Battery Modules & Packs (Industrial/Commercial pack assembly), with a secondary code of IMAGAHAA, Battery Cells (Li-ion, LFP, Sodium-ion, Lead-acid, NiMH). Its NAICS code is 33591 and its SIC code is 3600.