2024-12-02
This Lithium-ion battery has received a follow-on order after a trial battery pack(s) by a global defense contractor as well as used by Raymond of Toyota for its forklifts. Those show their superior quality products.
Their batteries are long lasting with fire protection ceramic separators. The only issue could be high initial cost even though the ROI or cost of ownership is lower as compared to their competitors. Based on an estimate, their battery could last 3.5M miles or 30 years if used in electric vehicles. Noted by Stephen Tobin: Electrovaya's battery supports 14,000 cycles while the closet competitor is 6,000 cycles by BYD. Tesla battery only supports 1,500 cycles.
Yes, it is a premium battery pack. The only issue would be "coming up with a cheaper but still superior version of battery to reach mass production."
US-EXIM Bank has recently approved a $50.8M loan for Electrovaya to get the cell/battery pack manufacturing plant up and running by the first half of 2026 in Jamestown, New York in USA. This manufacturing plant would help Electrovaya with larger contracts or deals.
Their stock symbol is ELVA:US or ELVA:CA, Electrovaya with head quarter and a manufacturing plant in Canada.
See their latest presentation and information at https://electrovaya.com/investors/
Notes: Btw, I own ELVA stock.
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A good analysis about Electrovaya stock: https://seekingalpha.com/article/4740005-electrovaya-stock-mispriced-potential-for-industry-leading-battery-technology
Its current price as of 2024-12-02: $3.71 CAD
or $2.675 USD
Electrovaya Receives Purchase Orders for Batteries From Fortune 500 Customer for Re-Powering Two Existing Distribution Centers
ReplyDeletehttps://finance.yahoo.com/news/electrovaya-receives-purchase-orders-batteries-120000697.html
2024-12-13: About Electrovaya, ELVA:US or ELVA:CA
ReplyDeleteIn the latest conference call of Electrovaya, there was an interesting note.
“For those unable to participate in the conference call, a replay will be available for two weeks beginning on December 12, 2024 through December 26, 2024. To access the replay, the dial-in number is 877-481-4010 and 919-882-2331. The replay passcode is 51758.” – Source from Electrovaya.
It was about its solid-state battery (SSB) under development. The experiment SSB passed their internal criteria including cycle life around 500 cycles and fast charging time (?). They need to fine tuning to make thinner separator and consistent performance, I guess. Anyway, they will announce the results soon, if successful.
I am just wondering about the application for a 500-life cycle solid-state battery. Their Infinity Lithium-ion battery is more than 10,000 cycles. Raj (CEO) said that the SSB with 500 life cycle battery is commercial-able. A 500-cycle life SSB is less expensive and perhaps lighter. What application could it be used for? What is the typical life cycle of a lead acid battery?
Excerpts from Internet about typical lead acid battery
>>>>>
What is the average life cycle of a lead-acid battery?
Even if never drain your battery too much, the best lead-acid batteries last only 500 to 1000 cycles. If you are frequently tapping into your battery bank, your batteries may need replacement after less than 2 years use.
Charging time
A lead-acid battery takes about 8 hours to fully charge, and then needs to cool for another 8 hours. This means that a single lead-acid battery can only power a forklift for one shift.
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In order to compete with lead acid battery, it would come down to cost, maintenance, operations and charging time for an SSB. Perhaps there are also other applications such as gasoline car batteries, laptop battery, phone battery, etc.? Licencing?
Their revenue forecast is conservative this time, thus 2025 revenue would be at least $60M or 50% higher than 2024. Anyway, I am expecting billions of dollars in revenues. its market cap is currently under $100M USD. When will it reach $500M and then $1B market cap?
See their latest presentation and information at https://electrovaya.com/investors/
A good analysis about Electrovaya stock: https://seekingalpha.com/article/4740005-electrovaya-stock-mispriced-potential-for-industry-leading-battery-technology
Its current price as of 2024-12-12: $3.98 CAD or $2.85 USD.
An interview of CEO for Canadian manufacturing:
ReplyDeletehttps://www.canadianmanufacturing.com/features/qa-dr-raj-das-gupta-on-electrovayas-exim-loan-what-it-means-for-cdn-mfg-and-whats-next/
prosserp's post @ agoracom 2024-12-13:
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There are lots of 500 cycle applications. One is EV's which require 400 cycles or more. That fits. Then there are consumer electronic devices that are Cost, cycle life and weight sensitive. Then there are military communication devices with the same cost, cycle life and weight considerations. Increased safety comes with all SS cells ? There is not the fire hazard as with conventional cells. Electrovaya should have a cost advantage using their own patented manufacturing process which is a lower cost process.
Right now though I would like to see the UL certification come thru for the new LFP cell and module. I believe this will lead to a large increase of customer orders from new customers. This could provide increased 2026 revenue.
Infinity-LIB-Tech's post @ Yahoo Finance 2024-12-13:
ReplyDeleteSSB applications are high performance automotive (supercars), aerospace/defense (drones), consumer products, etc... Lead acid has around ~1200/1500 cycle life if maintained well.
UL2580 Recognition for Electrovaya’s Lithium Iron Phosphate Infinity Cell:
ReplyDeletehttps://finance.yahoo.com/news/ul2580-recognition-electrovaya-lithium-iron-120000642.html
UL2580 recognition for LFP battery, it is a good sign. Now we can expect unexpected big contracts coming in as its safety certification and lower cost LFP as compared to NMC.
ReplyDeleteCloudmon is right about accumulating more shares while others dumped it.
It current market cap is $85.68M USD at $2.50 USD/share or $3.57 CAD/share, which is very low for all of its accomplishment so far.
Electrovaya has earned good fire protection records from its NMC Infinity battery. Therefore, those safety records would help to market LFP battery, if same ceramic separators used in it in addition to UL recognition.
ReplyDeletef you bid shares now or earlier in the morning, you could buy shares at the same price as equity offerings. If you bought shares yesterday, you may get price lower than $2.15 USD.
ReplyDeleteELVA don't have cash if you looked at their financial statements. EXIM requires cash collateral, i.e. not the money that they loaned to ELVA.
I think, ELVA would need cash for bigger deals or pay existing loans at high interests, thus they use this occasion to raise extra cash to pay for existing loans. It is not an ideal time to raise cash via equity to me due to "artificial" low share price. Anyways I have accumulated some more shares in this event via a public stock exchange.
Seize this opportunity, if you're interested in ELVA shares.
---- From Cloudmon @ Yahoo Finance --------
All this hyperventilating and posts from the armchair CEOs - I would not be surprised to hear that several fainting couches were broken this morning. However, one would have to be naive to think there would be no cost to replacing the current debt facility with a new one and this move seems to be imminent. Additionally, it should come as no surprise to hear that there are costs to setting up the ExIm loan. Agoracom posts indicate that this was a savvy move, barely dilutive. I agree with that assessment.
Given how John Gibson has been focused on the company moving onto stronger ground financially leading to the "going concern" language being dropped, you should be assessing what the company is getting in return for selling a relative small number of shares: (1) the ExIm loan will likely close within the next month, (2) the debt facility will soon be replaced with one on more advantageous terms to the company, and (3) Jamestown facility will soon be contributing to fulfilling sales orders. The cost of doing this business is that the total number of outstanding shares will increase from about 34 million to under 40 million shares. Take a deep breath here and think about what is going on.
I bought a bit more and will continue to do so - I have a longer term view than the armchair analysts.