Lithium-ion battery technology developer and manufacturer Electrovaya has received a USD3.5 million order for its batteries with an existing OEM client in the same week it announced it has received approval for a USD50.8 million loan under the Make More in America initiative.

Toronto-headquartered Electrovaya says the order is for immediate delivery and will be used to power materials handling electric vehicles in the client’s warehouses in the US and Australia.

Vice president of business development at Electrovaya Jeremy Dang says of the order: “This customer has been the largest operator of our batteries to date with more than 30 distribution centres. We are pleased to see additional order volume coming from this key global customer.”

Electrovaya has also announced it has received approval for a direct loan of USD50.8 million from the Export-Import Bank of the United States (EXIM) to finance a battery manufacturing buildout and set up costs for a facility in Jamestown, New York.

Electrovaya chief executive officer Raj DasGupta explains: “The funding from EXIM is instrumental to Electrovaya’s long-term strategy to expand capacity and establish lithium-ion cell production in the United States”.

“Our facility in Jamestown will be powered by clean renewable energy and will produce the longest lasting and safest lithium-ion cells in the world when it starts commercial shipments in early 2026.”

Electrovaya says the approval was its fifth under the Make More in America program, established in 2022 to incentivise domestic manufacturing.