Post by
Stockholder2008 on Sep 30, 2024 11:56am
Strategic Supply Agreement with Innovative Rail Technologies
It is good to see Electrovaya start to announce it's new customers. This is a new vertical and will help diversify the customers a bit.
This is the start of fiscal 2025 for Electrovaya. There should be more customer announcments to follow.
Electrovaya Inc. (“Electrovaya” or the “Company”)(NASDAQ: ELVA; TSX: ELVA), a lithium-ion battery technology and manufacturing company, today announced the establishment of a Strategic Supply Agreement with Innovative Rail Technologies, LLC (IRT). The Agreement will initially cover the supply of Electrovaya’s Infinity battery systems for IRT’s electric locomotive systems. IRT is focused on the electrification of locomotives to battery electric through its proprietary advanced technology lithium-ion adaptive system, a turnkey, scalable propulsion and control package customized to the unique needs of customer operations. IRT has a strong pipeline of orders targeting applications in industrial operations, short line railroads, ports, defense and commuter rail.
https://electrovaya.com/press/electrovaya-and-innovative-rail-technologies-enter-into-strategic-supply-agreement-for-the-supply-of-battery-systems-for-electric-rail-applications/