Electrovaya Provides a Business Update

TORONTO, ON / ACCESS Newswire / October 14, 2026 / Electrovaya Inc. ("Electrovaya" or the "Company") (NASDAQ:ELVA)(TSX:ELVA), a lithium-ion battery technology and manufacturing company, today provided a business update, including preliminary fiscal 2026 revenue expectations and progress on its Jamestown, New York manufacturing facility and ElvaPulse™ stationary energy storage product line. All dollar amounts are in U.S. dollars unless otherwise noted. Highlights: * Unaudited revenue for the fiscal year ended September 30, 2026 ("FY2026") is expected to be a record and within previously issued guidance of approximately $71 million of normalized revenue, despite macroeconomic headwinds in core end markets. * Audited FY2026 results, expected in early December 2026, will be the Company's first reported under U.S. GAAP, supporting its transition to U.S. domestic filer status. * FY2027 is expected to see the Company's two most pivotal initiatives come online: Jamestown lithium-ion cell, module and pack manufacturing, and the ElvaPulse™ product line. * Jamestown module manufacturing equipment has completed Factory Acceptance Testing; cell equipment testing is progressing well. * Appointed Kris Kuzniewski, Ph.D., as Vice President, Data Center Sales, to lead ElvaPulse™ data center sales. "Fiscal 2026 was another record year for Electrovaya, delivered in an environment where several of our core markets faced real macroeconomic challenges," said Dr. Raj Das Gupta, Chief Executive Officer of Electrovaya. "We are excited to begin fiscal 2027, the year in which our two most pivotal initiatives come online: domestic cell, module and pack manufacturing in Jamestown, and our ElvaPulse™ energy storage platform. Together, we believe they will be instrumental in transforming Electrovaya and expanding the markets we serve."