ELVA

Electrovaya Inc. (NASDAQ:ELVA) is a Canadian lithium-ion battery manufacturer founded in 1996 and headquartered in Mississauga, Ontario. Originally incorporated as Electrofuel Inc., the company changed its name to Electrovaya in March 2002 and went public in 2010. The company has evolved from a research-focused battery technology developer into a commercial manufacturer specializing in advanced lithium-ion battery systems for industrial applications. Electrovaya has experienced significant growth in recent years, with revenues increasing from $15.6 million in fiscal 2022 to $44.6 million in fiscal 2024, while achieving consistent profitability improvements and securing major financing for U.S. manufacturing expansion.