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Benzinga
Benzinga
Business
Akanksha Bakshi

Electrovaya Secures $10.6M In Purchase Orders

EFL TSX
  • Electrovaya Inc. (TSX:EFL) (OTC:EFLVF) has received further purchase orders valued at about $10.6 million.
  • The company received a blanket purchase order from its OEM sales partner valued at more than $9.4 million and other orders worth ~$1.2 million.
  • The blanket purchase order will be replaced by detailed purchase orders specifying the battery models and delivery sites, with deliveries expected by September 2022.
  • The major portion of the blanket purchase orders is anticipated for a Fortune 100 company to power Materials Handling Electric Vehicles in distribution centers in the U.S.
  • Price Action: EFL shares are trading higher by 10.2% at C$0.97 on TSX, and EFLVF shares are trading higher by 9.97% at $0.77 on the last check Thursday.
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