Electrovaya plans $1.4 million investment in Janus Electric
ELVA•Electrovaya entered a term sheet for an approximately $1.4 million direct placement investment in Janus Electric. A battery supply agreement includes approximately $26 million in initial orders for Janus’s North American deployments.
1. Investment and supply deal
Electrovaya’s planned investment includes approximately 4.2 million shares and up to 6.3 million warrants, exercisable at 125% of the placement price for three years. Deliveries are underway to support Janus Electric’s US and Canadian rollout, which has orders and commitments for 118 truck conversions. Expanded battery manufacturing capacity in Jamestown, New York, is expected to come online during fiscal 2027.
