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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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