Electrovaya has received a battery purchase order through its OEM sales channel valued at approximately USD3.4 million. The batteries will be used by a leading Fortune 100 retailer to power materials handling electric vehicles (MHEV)in the United States. Deliveries will be made during the 2023 fiscal year.

Details of the order remain confidential, but Electrovaya says the customer will be its 10th Fortune 100 company and fifth Fortune 100 retailer to operate its batteries.

“We are delighted to announce a significant order with a new Fortune 100 customer and leading national retailer in the United States,” says Jeremy Dang, vice president of business development at Electrovaya. “This represents the first distribution centre order for this customer. 

“Following successful deployment, we believe it may seed demand for additional orders. Electrovaya’s MHEV batteries, based on our proprietary Infinity battery technology, offer superior safety and cycle life and thus provide sophisticated commercial customers with the lowest overall cost of ownership.”