Electrovaya Achieves First UL 2580 Certification for High-Voltage Batter Systems in Its Class

Likely the first Company to achieve this level of certification for high voltage vehicular battery systems in its target segment, further strengthening its leadership in heavy-duty, mission critical applications

TORONTO, ON / ACCESS Newswire / March 10, 2026 / Electrovaya Inc. ("Electrovaya" or the "Company") (NASDAQ:ELVA)(TSX:ELVA), a leading lithium-ion battery technology and manufacturing company, today announced that it has successfully completed UL2580 safety certification for six models of its next-generation high-voltage lithium-ion battery systems. These systems are designed for integrated material handling vehicles supporting all-season outdoor environments.

The newly certified battery platforms are powered by Electrovaya's Infinity Battery Technology and incorporate an advanced thermal management system specifically engineered to maintain safe and consistent performance across a wide operating environment.

The UL2580 certification process involved some of the most stringent safety tests in the industry, including fire propagation testing, vibration, mechanical shock, short-circuit testing, and other destructive abuse tests. To the Company's knowledge, this represents the first high-voltage UL2580 certification, exemplifying Electrovaya's leadership position for battery safety.

"This certification represents an important milestone as we expand our product portfolio into higher-voltage battery systems," said Dr. Raj DasGupta, CEO of Electrovaya. "UL2580 is one of the most trusted safety standards in the battery industry, and achieving the first certification for high-voltage systems underscores the strength and safety of Electrovaya's Infinity Battery Technology."

Electrovaya continues to advance its high-voltage product offerings to meet evolving customer requirements and to support the ongoing electrification of industrial vehicle fleets.

Investor and Media Contact:     

Jason Roy
VP, Corporate Development and Investor Relations
Electrovaya Inc.
[email protected]
905-855-4618

About Electrovaya Inc.

Electrovaya Inc. (NASDAQ:ELVA)(TSX:ELVA) is a technology-driven lithium-ion battery company commercializing its proprietary Infinity Battery Technology, designed for superior safety, longevity, and performance in mission-critical industrial, robotics, defense and energy-storage applications. The Company leverages a strong intellectual-property portfolio and advanced materials expertise to deliver durable, high-value battery solutions to global OEMs and end users. To support growing demand and advancing energy-security and national-security objectives, Electrovaya is expanding U.S. manufacturing through its 52-acre Jamestown, New York site, which includes a 137,000-square-foot facility planned as its first gigafactory. Electrovaya also operates two Canadian sites focused on research, engineering, and product commercialization. For more information, please visit www.electrovaya.com.

Forward-Looking Statements

This press release contains forward-looking statements, including statements that relate to, among other things, revenue, purchase orders, the potential for additional purchase orders from the described customer in CY 2026, order growth and customer demand FY and CY 2026, UL certifications, the demand for high voltage battery systems, the first UL2580 certification for high voltage battery systems, future business opportunities, and the ability to deliver to customer requirements. Forward-looking statements can generally, but not always, be identified by the use of words such as "may", "will", "could", "should", "would", "likely", "possible", "expect", "intend", "estimate", "anticipate", "believe", "plan", "planned", "objective", "estimated" and "continue" (or the negative thereof) and words and expressions of similar import. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, assumptions and analyses made by the Company in light of the experience and perception of historical trends, current conditions and expected future developments and other factors it believes are appropriate are necessarily applied in making forward looking statements and such statements are subject to risks and uncertainties, therefore actual results may differ materially from those expressed or implied in such statements and undue reliance should not be placed on such statements. Material assumptions made in disclosing the forward-looking statements included in this news release include, but are not limited to assumptions that the Company's customers will deploy its products in accordance with communicated timing and volumes, that the Company's customers will complete new distribution centers in accordance with communicated expectations, intentions and plans, and stable political climate with respect to exports from Canada to the United. Factors that could cause actual results to differ materially from expectations include but are not limited to customers not placing roughly in accordance with historical ordering patterns and communicated intentions, the fact that the expected additional sales from the described customer are expressions of interest and not yet purchase orders, the uncertain effects of the imposition of a new tariff regime on Canadian exports by the United States, macroeconomic effects on the Company and its business and on the lithium battery industry generally, the Company's liquidity and cash availability in excess of its operational requirements, and the ability to generate and sustain sales orders. Additional information about material factors that could cause actual results to differ materially from expectations and about material factors or assumptions applied in making forward-looking statements may be found in the Company's Annual Information Form for the year ended September 30, 2025 under "Risk Factors", in the Company's base shelf prospectus dated September 17, 2024, and in the Company's most recent annual and interim Management's Discussion and Analysis under "Qualitative And Quantitative Disclosures about Risk and Uncertainties" as well as in other public disclosure documents filed with Canadian securities regulatory authorities. The Company does not undertake any obligation to update publicly or to revise any of the forward looking statements contained in this document, whether as a result of new information, future events or otherwise, except as required by law.

SOURCE: Electrovaya, Inc.

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