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Electrovaya Closes $50.8 Million Direct Loan with Export-Import Bank of the United States (“EXIM”) to Expand U.S. Battery Manufacturing

1. Electrovaya secured $50.8 million loan under EXIM's initiative for expansion. 2. Combined funding exceeding $80 million supports aggressive U.S. battery manufacturing growth.

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FAQ

Why Very Bullish?

The significant funding from EXIM represents a strong endorsement of Electrovaya's business model. Comparable instances, such as Tesla securing government funding, have led to substantial stock price increases.

How important is it?

This funding marks a pivotal moment for Electrovaya's growth strategy, likely impacting investor sentiment positively.

Why Long Term?

The investment in battery manufacturing infrastructure indicates a strategic position for future growth. This aligns with increasing demand for lithium-ion batteries over the next several years.

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Funding Under EXIM‘s Make More in America Initiative to Fuel Expansion of Electrovaya's Jamestown Battery Manufacturing Facility Combination of EXIM Funding with $20 million BMO Credit Facility and $12 Million Equity Capital from December 2024 Provides Electrovaya with Over $80 million for Aggressive U.S. Expansion Electrovaya has Met Substantially All Condition Precedent Requirements to Drawdown on the EXIM Facility JAMESTOWN, NEW YORK / ACCESS Newswire / March 10, 2025 / Electrovaya Inc. ("Electrovaya" or the "Company") (NASDAQ:ELVA)(TSX:ELVA), a leading lithium-ion battery technology and manufacturing company, is pleased to announce that it has closed a direct loan in the amount of US$50.8 million from the Export-Import Bank of the United States ("EXIM") under the bank's ‘Make More in America' initiative. The Company has also met substantially all of EXIM's condition precedents required to begin drawdowns on the loan.

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