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Factory acceptance testing, the next step toward cell production at Electrovaya's Ellicott plant, has been completed.
Electrovaya officials issued a business update on Wednesday, with one of the top items discussed being the testing of module manufacturing equipment for the company's Ellicott facility. The equipment has been accepted for delivery to Electrovaya's 1 Precision Way plant. Company officials said testing of the cell manufacturing equipment is progressing well and is continuing to ensure the equipment and the integrated manufacturing process meet the company's performance and quality expectations. The Jamestown team involved in the project continues to grow, with equipment and process engineering leads recently joining. There are now 10 Electrovaya staff engaged in the extensive testing and acceptance testing effort.
"This extensive testing program is a deliberate risk-mitigation step, designed to avoid issues that have affected other battery plant start-ups," company officials said in a news release.
Unaudited revenue for the fiscal year ended Sept. 30, 2026, is expected to be a record and within previously issued guidance of $71 million of normalized revenue, despite what company officials said are macroeconomic headwinds in core markets. Audited financial information is expected to be released in early December.
Electrovaya officials also gave a glimpse forward into 2027. Jamestown lithium-ion cell, module and pack manufacturing is expected to begin full production in 2027 while the ElvaPulse product line is expected to be up and running as well. Electrovaya recently appointed Dr. Kris Kuzniewski as vice president of data center sales to lead the ElvaPulse data center sales effort.
"Fiscal 2026 was another record year for Electrovaya, delivered in an environment where several of our core markets faced real macroeconomic challenges," said Dr. Raj Das Gupta, chief executive officer of Electrovaya. "We are excited to begin fiscal 2027, the year in which our two most pivotal initiatives come online: domestic cell, module and pack manufacturing in Jamestown, and our ElvaPulse energy storage platform. Together, we believe they will be instrumental in transforming Electrovaya and expanding the markets we serve."
Electrovaya introduced its ElvaPulse™ product line at the Yotta data center energy conference in September. Electrovaya officials said they are confident that the domestically manufactured ElvaPulse provides an optimized solution for shorter-duration energy storage, a segment that is not well addressed by incumbent energy storage solutions.
The ElvaPulse 1500 delivers 7 megawatts of power per block, which the company believes is the highest power density of any comparable solution on the market. Higher power density means fewer batteries are required to meet power-firming and uninterruptible power supply requirements, which are growing as data centers increase their power needs, while also aligning with tightening utility requirements.
Company officials are also setting the stage for 2027 to grow its share of revenue from new areas such as defense, robotics, airport ground equipment and high voltage battery systems. Such opportunities represent an increasingly important component of Electrovaya's growth outlook, extending its reach into new applications and broadening its revenue base. Products in all four areas are expected to provide new revenue in 2027, while the company is also seeing increased demand for port-related applications in its high-voltage material handling battery products for Toyota Material Handling and high-voltage battery systems for electric trucks.
“We moved Jamestown to the cusp of production,and we posted the best gross margin in our history while staying profitable,” DasGupta said during Electrovaya's conference call with investor analysts in August. “From here, four pillars frame the story: Amazon, ElvaPulse, Jamestown and margins. Fiscal 2027 is when they converge as Jamestown capacity comes online and our newer verticals begin to scale. Our job over the next four quarters is to convert that position into profitable revenue growth, and that is exactly how we are measuring ourselves.”