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NEWS
The Export-Import Bank of the United States (EXIM) Approves a direct loan in the amount of $50.8 million to fund Electrovaya's Jamestown Lithium-Ion Battery Expansion
Electrovaya (NASDAQ/TSX: ELVA) has secured a US$50.8 million direct loan from the Export-Import Bank of the United States (EXIM) under their 'Make More in America' initiative. The funding will support equipment, engineering, and setup costs for Electrovaya's battery manufacturing facility in Jamestown, New York.
The facility will produce proprietary Infinity lithium-ion ceramic cells and is scheduled to begin commercial shipments in early 2026. Expected to create over 250 jobs, the facility will support exports to Japan, Canada, and Australia. The project will benefit from IRA 45X production tax credits and New York state incentives. The facility will be powered by clean renewable energy and aims to produce what the company describes as the longest-lasting and safest lithium-ion cells.
The facility will produce proprietary Infinity lithium-ion ceramic cells and is scheduled to begin commercial shipments in early 2026. Expected to create over 250 jobs, the facility will support exports to Japan, Canada, and Australia. The project will benefit from IRA 45X production tax credits and New York state incentives. The facility will be powered by clean renewable energy and aims to produce what the company describes as the longest-lasting and safest lithium-ion cells.
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