Electrovaya to partner with Australian company
Electrovaya is partnering with an Australian company that specializes in diesel-to-electric conversions of Class 8 heavy-duty trucks. Company officials said Wednesday that Electrovaya has entered into a strategic supply agreement with Janus Electric Holdings Limited. Janus is making a $26 purchase order for Electrovaya's lithium-ion battery systems to meet initial demand for Janus products in the United States and Canada. As part of the strategic alignment, Electrovaya has entered into a term sheet to invest $1.4 million into Janus in exchange for up to 4.2 million shares, together ...