Electrovaya Inc., a lithium-ion battery technology developer, has secured funding for the buildout of its battery manufacturing facility in Jamestown, New York.
The new Jamestown facility will produce Electrovaya’s proprietary Infinity lithium-ion ceramic cells, which are known for their longevity and safety.
The financing — a US$50.8 million direct loan from the Export-Import Bank of the United States under the ‘Make More in America’ initiative — will help cover equipment, engineering, and setup costs.
The facility will start commercial shipments in early 2026, operate on clean, renewable energy, and support vertical integration for improved margins and exponential growth. This expansion aligns with Electrovaya’s goal to meet growing demand across heavy-duty and critical electric applications, while advancing US manufacturing.
Launched in 2022 following President Biden’s Executive Order on America’s Supply Chains, EXIM’s ‘Make More in America’ initiative promotes domestic manufacturing with a focus on environmentally beneficial projects. Electrovaya’s Jamestown expansion is expected to create over 250 jobs, bolster exports to Japan, Canada, and Australia, and benefit from the IRA 45X production tax credits and New York state incentives as production scales.
Filed Under: Technology News