Electrovaya Enters into a Strategic Supply Agreement with Janus Electric with Approximately $26 Million in Initial Orders
Key Highlights
- ➤Janus Electric supply agreement includes approximately $26 million in initial orders
- ➤Electrovaya to invest approximately US$1.4 million in Janus for shares and warrants
- ➤Janus secured orders and commitments for 118 truck conversions in North America
- ➤Electrovaya’s Jamestown manufacturing expansion expected online during fiscal 2027
- ➤Purchase orders remain nonbinding until delivery schedules are confirmed
Expert Statements
Ben Hutt, Managing Director and CEO of Janus Electric
“Electrovaya is an important partner to Janus Electric, and we’re particularly pleased it has decided to invest directly in our business. The investment is a strong vote of confidence in our technology and approach to electrifying heavy transport.”
Ben Hutt, Managing Director and CEO of Janus Electric
“Reliable battery supply is critical to our growth, and Electrovaya’s expanding North American manufacturing capabilities will be important as we scale. Both companies see considerable opportunity in this market, and we look forward to building on our partnership.”
Dr. Raj Das Gupta, CEO of Electrovaya
“Class 8 trucking is one of the most exciting and demanding frontiers in electrification, and Janus has demonstrated real commercial traction with fleets in the United States, Canada and Australia.”
Dr. Raj Das Gupta, CEO of Electrovaya
“Janus has developed a practical solution to one of the major challenges facing heavy transport, enabling diesel-powered trucks to be converted to electric without compromising their commercial operations.”
Dr. Raj Das Gupta, CEO of Electrovaya
“With deliveries now underway, we are pleased to support Janus as it moves from orders to deployments. Our strategic investment, together with the warrants, aligns us closely with Janus’s long-term growth.”
TORONTO, ON / ACCESS Newswire / October 28, 2026 / Electrovaya Inc. ("Electrovaya" or the "Company") (NASDAQ:ELVA)(TSX:ELVA), a lithium-ion battery technology and manufacturing company, today announced that it has entered into a strategic supply agreement with Janus Electric Holdings Limited ("Janus") (ASX:JNS), an Australian developer of diesel-to-electric conversion and battery-swapping systems for Class 8 heavy-duty trucks, with approximately $26 million in initial purchase orders for Electrovaya's lithium-ion battery systems to meet initial demand for Janus products in the United States and Canada. As part of the strategic alignment, Electrovaya has entered into a term sheet to invest approximately US$1.4 million in Janus for up to 4.2 million shares, together with up to 6.3 million warrants. Class 8 trucks, the heaviest category of on-road commercial vehicles, are among the largest consumers of diesel fuel, making their electrification one of the most significant, and most demanding, applications for battery technology. Janus's approach converts existing diesel prime movers to battery-electric operation and pairs them with swappable battery packs and Janus Charge & Change Stations, allowing fleets to exchange batteries in minutes rather than wait hours to recharge, and to electrify without the capital cost of purchasing new trucks. Electrovaya's lithium-ion battery systems, which incorporate its proprietary Infinity Battery Technology and are designed for safety, reliability and long cycle life in high-utilization applications, are well suited to the repeated daily swap cycles of this model.
Get started
Create a free account to read the full story.