Electrovaya (EFL) 17th Annual Southwest IDEAS Conference summary

Technology and product innovation

• Developed Infinity Battery Technology, agnostic to chemistry, extending cycle life by up to 4x compared to standard lithium-ion batteries.

• Commercialized a unique ceramic separator, enhancing safety and thermal stability, deployed in over 30,000 battery systems.

• Batteries achieve 10,000–15,000 cycles at high depth of discharge, far exceeding typical consumer batteries.

• Focused on mission-critical, high-duty applications like forklifts, robotics, airport ground equipment, and defense.

• Ongoing R&D with 2–4 patents filed annually and proprietary know-how prioritized.

Market strategy and expansion

• Targeting material handling as core market, powering operations for 16 Fortune 100 companies at 300+ sites globally.

• Expanding into robotics, airport ground equipment, energy storage, and defense, with multi-million revenue expected from robotics in 2026.

• Global reach with batteries in North America, South America, and Asia; U.S. remains primary market.

• Strategic partnerships with Toyota Material Handling and Sumitomo Corporation, including white-labeling and exports to Japan.

• Plans to scale energy storage products in 2027, focusing on backup power for critical infrastructure.

Financial performance and outlook

• Achieved 10 consecutive quarters of positive EBITDA and expects net profit for full year 2025.

• Q4 2024 revenue pre-announced at $20 million, with continued growth anticipated.

• Healthy balance sheet supported by $25 million BMO working capital facility, $28 million recent equity raise, and EXIM Bank loan for U.S. expansion.

• Battery systems sold at ~30% gross margin, expected to improve with vertical integration at new U.S. facility.

• Focus on sustaining profitability while scaling operations and leveraging high-margin, performance-driven sales.