ACCESS Newswire·Oct 28, 2026, 7:00 AM ET

Electrovaya Enters into a Strategic Supply Agreement with Janus Electric with Approximately $26 Million in Initial Orders

Electrovaya has entered a strategic supply agreement with Janus Electric Holdings Limited for approximately $26 million in initial purchase orders of lithium-ion battery systems for Class 8 truck conversions in the US & Canada.
Electrovaya agreed to invest approximately US$1.4 million (A$2.0 million) in Janus for up to 4.2 million shares & up to 6.3 million warrants.
The investment includes warrants equal to 150% of the issued shares, each fully vested on issuance with a 3-year expiration & an exercise price of 125% of the placement price.
Each Janus truck conversion utilizes approximately 600kWh of Electrovaya battery systems, with 118 conversions currently secured across the US, Canada & Australia.
Deliveries of battery systems to Janus have commenced to support initial customer deployments in North America.
Electrovaya is expanding manufacturing capacity at its Jamestown, New York facility for cell, module & pack production, expected to be operational during the 2027 fiscal year.
Janus utilizes a battery-swapping model that allows fleets to exchange batteries in minutes instead of waiting hours to recharge.
Janus intends to use the investment proceeds for working capital purposes.