RE:Financial supportIf you look at the timing of this loan extension you will see. It will take 90 days to install the Hi Voltage automated assembly line and $2mil. The latest presentation says it will be operational by end of 3rd Quarter. We are now in the 2nd Quarter, Also the Low Voltage module assembly line Plus the Low Voltage battery pack and test stand will be operational. Where is the $4mil coming from to do this? From this just announced loan extension from the existing lender. The left over funds about $4mil can be used to fill the raw material pipeline for increased production. They also have positive cash flow to help with this.
The money expected from the new lender is for the cell production line, seperator line and cathode line. If Electrovaya can source US lithium then all raw materials will be US sourced. VERY IMPORTANT !
Just watch and see........The only profitable battery manufacturer with a US raw material supply line. Seems to me the military equipment OEMs would be interested... JMHO