Exhibit 99.1
NASDAQ : ELVA TSX : ELVA Investor Presentation December 11, 2024 A final base shelf prospectus containing important information relating to the securities described in this document has been filed with the securities regulatory authorities in each of the provinces and territories of Canada. The final base shelf prospectus, any applicable shelf prospectus supplement and any amendment to the documents are accessible through SEDAR+. Copies of the documents may be obtained from Roth Capital Partners, LLC, 888 San Clemente Drive, Suite 400, Newport Beach, CA 92660, (800) 678-9147 or by accessing the SEC’s website, www.sec.gov. This document does not provide full disclosure of all material facts relating to the securities offered. Investors should read the final base shelf prospectus, any applicable shelf prospectus supplement and any amendment to the documents for disclosure of those facts, especially risk factors relating to the securities offered, before making an investment decision.
Safe Harbor Statement 2 Forward-lookingstatements:This presentation contains forward-looking statements and forward looking information (collectively, "forward-looking statements"), including statements that relate to, among other things, the size of the Company's addressable market and target verticals and applications, margin performance capabilities of new target operating segments, future operating jurisdictions including plans for manufacturing expansion in the United States and Japan, the ability to take advantage of manufacturing incentives for United States based manufacturers, the development of new products including solid-state batteries, the characteristics thereof, and the need for separator technology therein, the size of the Company’s sales pipeline and the ability to satisfy orders thereunder, the Company’s ability to satisfy its ongoing debt obligations, intentions to refinance existing debt facilities, anticipated continued increase in sales momentum in fiscal 2025, the future direction of the Company’s business and products, technology development and other statements regarding the Company’s markets, objectives, goals, strategies, intentions, beliefs, plans, expectations and estimates, and can generally be identified by the use of words such as “may”, “will”, “could”, “should”, “would”, “likely”, “possible”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “plan”, “objective” 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, such statements are necessarily based on assumptions and involve risks and uncertainties, and undue reliance should not be placed on such statements. As a result actual results may differ materially from any result or expectation expressed or implied in forward-looking statements. Material assumptions on which forward-looking statements herein are based include that the Company's customers will complete new distribution centres in accordance with communicated expectations, intentions and plans, anticipated new orders based on customers’ historical patterns and additional demand communicated to the Company and its partners, but not yet provided as a purchase order, expected decreases in input and material costs combined with stable selling prices in FY 2025, that the Company will be able to deliver ordered products on a basis consistent with past deliveries, that the Company’s customer counterparties will meet their production and demand growth targets, the Company’s ability to successfully execute its plans and intentions, including with respect to the entry into new business segments and verticals as well as servicing existing customers, the availability to obtain financing on reasonable commercial terms, including refinancing existing debt and completing the announced financing with the Export-Import Bank of the United States, the impact of competition and new technologies on the Company, that the Company’s relationships with its suppliers, customers, lenders and other third parties will be maintained, market growth for lithium-ion battery applications, the Company’s ability to service debt obligations and adhere to negotiated debt covenants, the regulatory, legal and political framework governing taxes and environmental matters in the jurisdictions in which the Company conducts and will conduct its business and the interpretations of applicable laws, the Company’s future research and development levels and future production levels, and the Company’s operating costs and expected capital expenditures. Important factors that could cause actual results to differ materially from expectations include but are not limited to the impact of political decisions in the United States and elsewhere on trade and with respect to government incentives for manufacturing, natural disasters, unusually adverse weather, epidemic or pandemic outbreaks, cyber incidents, boycotts and geopolitical events, including the imposition of tariffs or trade controls that could impact the Company's cross-border business, market demand among the Company’s customers and target markets for lithium-ion batteries as well as those additional risk factors found in the Company’s base shelf prospectus dated September 17, 2024 and any supplement thereto, and the documents incorporated by reference therein. The Company does not undertake any obligation to update or 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. These forward-looking statements should not be relied upon as representing Electrovaya’s assessments as of any date subsequent to the date of this presentation. electrovaya.com NASDAQ : ELVA | TSX : ELVA 2
NASDAQ : ELVA | TSX : ELVA Offering Summary 3 electrovaya.com Transaction Confidentially Marketed Public Offering (CMPO) Offering Size $10 million of stock | 100% Primary Issuer Electrovaya Inc. Exchange/Ticker NASDAQ:ELVA and TSE:ELVA Expected Pricing Date Week of December 16th Use of Proceeds Debt repayment of EXIM direct loan commitments and bank refinancing of working capital facilities Lock up 90 days for company, directors, and officers Bookrunning Manager Roth Capital Partners Co-lead Managers Raymond James & Craig-Hallum Capital Group
electrovaya.com NASDAQ : ELVA | TSX : ELVA Electrovaya at a Glance 4 Infinity Technology -Safety & Longevity The Company believes that its batteries provide industry leading safety & longevity validated bythird party & field data Proprietary ceramic separator technology -30+ patents Perfect Safety Record -30,000+ batteries deployedwith no safety events 14 Fortune 100 clients across mission critical operations-selecting Electrovaya onPerformance & Safety Leading OEM Partners in USA & Japan across market segments Blue Chip Customers & Partners Large Addressable Market $100+Billion Market Material Handling | Energy Storage |Aerospace Defense | Commercial Vehicles Domestic Manufacturing US cell and systems Manufacturing in Jamestown, New York, andEngineering & Systems manufacturing inMississauga, Ontario. Route to Profitability: Achieved operating profit,positive cash flow, and five consecutive quarters ofpositive EBITDA, with TTM EBITDA reaching $5.1M. High Growth: With a 100% organic CAGR over twoyears, TTM revenue is $49.5M, approaching the $50Mbreakeven point. Inflection Point -Financial Results
electrovaya.com NASDAQ : ELVA | TSX : ELVA Customers and Partners -Infinity Batteries 5 StrategicPartnership Example OEMCustomers End Users Example(not a full list)
electrovaya.com NASDAQ : ELVA | TSX : ELVA Electrovaya Powered -Mission Critical & 24/7 6 Total 28,000+Infinity Battery systems deployed Powering over 200 warehouses& logistic centers Empowering mission-criticaloperations
electrovaya.com NASDAQ : ELVA | TSX : ELVA Addressable Markets are Extensive 7 TARGET APPLICATIONS MARKET SIZE *Data numbers obtained through: www.marketsandmarkets.com Total: $113.5 Billion Addressable Marketin 2024* $70.9 Billion $33.3 Billion $7.8 Billion $1.5 Billion Electric commercial vehicle Material handling equipment Stationary energy storage Defense Defense Energy storage Locomotive Construction Train E-truck Material handling Mining
electrovaya.com NASDAQ : ELVA | TSX : ELVA Opportunities -New Target Verticals 8 Mining & Construction • Near continuous operation • Highest cycle-life demand in EV industry • High priority for battery safety Data Center / Energy Storage • High use application • High priority for battery safety Defense • High use applications • Highest demands for battery safetyand reliability Locomotive Airport &Ground Service • High use application • High priority for battery safety & reliability With a strong foundation built in the Materials Handling space,we are beginning a transition to new vertical industries in 2025 and beyond
electrovaya.com NASDAQ : ELVA | TSX : ELVA Tailored Solution for Mission Critical Operations 9 Infinity Technology Leads the Industry for Longevity and Safety INDUSTRY CHALLENGE • Legacy lithium-ion tech facessafety and longevity issues,failing in heavy-duty applications. • Safety recalls hit major nameslike LG, Akasol, and Proterra. OUR SOLUTION • Longer Lifetime: Our InfinityTechnology offers the highestcycle with over 4X the life oftypical batteries of the samechemistry • Improved Safety: Our batteriesuse a proprietary ceramicseparator membrane thatsignificantly improves safety • Heavy Duty Applications:Mission critical applications incl. Material handling, Construction& mining equipment PROVEN EXECUTION • Scaled: Deliveries of batterysystems have increased more than100% YOY • Proven: Proven technology andmanufacturability ->6 years offield data with major customers • Reliable: Operating in missioncritical 24/7 warehouseoperations at some of the largestcompanies in the world(>14 Fortune 100 end users)
electrovaya.com NASDAQ : ELVA | TSX : ELVA Infinity Technology -Safety is Top Priority 10 Fires are a common risk with typical lithium-ion batteries
electrovaya.com NASDAQ : ELVA | TSX : ELVA Infinity Technology -Safety is our Top Priority 11 INFINITY BATTERIES PROVIDE ADDITIONALPREVENTION TO FIRE PROPAGATION TYPICAL BATTERIES PROPAGATE FIRE No internal propagation,the fire was containedwithin the faultedsub-module No flames escaped thebattery enclosure Risks costly damageand downtime Serious health andsafety risks Nail Penetration Test Fire Propagation Test Nail Penetration Test No fire
electrovaya.com NASDAQ : ELVA | TSX : ELVA Multi-Million-Mile Batteries -Performance Advantage 12 *CYCLE EQUIVALENT: 500 1000 2000 5000 9000 Longevity Consumer Electronics E-Bike EV Forklift (MHE) E-Bus Energy storage 14,000 cycles is equivalent to 3,500,000 miles for 250-mile range car1 1 ) Greencarreports 2) In-house testing 2) Competitor sources and autoevolution 2 3
electrovaya.com NASDAQ : ELVA | TSX : ELVA Leveraging Longevity Advantage -Recurring Revenue RecurringRevenue Current -<5%Target ->10% Lease/Rentals • Lower upfront costs (with OEM supported residual value) • Ability to participate in off-lease opportunities • Rentals are a small but growing offering and inuse with Electrovaya’s largest end customers Approx. MarginsCapabilities0-5 yrs : 30%6-10 yrs: 80%11 yrs + : 100% SaaS • Opportunities to increase from data analytics(already in use at major customers), demandresponse and energy storage Approx. MarginCapabilities>80% Aftermarket Services • Spare Parts & accessories • Inspections and studies Approx. Margins30-50% Growing Segments 13
electrovaya.com NASDAQ : ELVA | TSX : ELVA Global Reach Electrovaya Gigafactory, Jamestown, NY, USA Electrovaya Corp & Labs, Mississauga, ON, CA Electrovaya Japan coming soon 14
electrovaya.com NASDAQ : ELVA | TSX : ELVA US Manufacturing Expansion -Jamestown MADE IN USA FUNDED OWNED 137,000 sq FT $0.05/kWh Improves profitability, domestic supply chainsand opens more market opportunities Fully funded expansion plan with a $50.8m direct loanfrom Export Import Bank of the United States (EXIM)‘Make More in America’ initiative Industrial facility on 52 acres Low cost & 100% renewable electricity 15
electrovaya.com NASDAQ : ELVA | TSX : ELVA US Manufacturing Expansion -Jamestown PROJECTOVERVIEW STRATEGIC ANDFINANCIAL BENEFITS FINANCIALHIGHLIGHTS • Advanced Lithium ionbatterymanufacturing cell, module andpack facility • Will produce Electrovaya’sproprietary lithium ionceramic(Infinity series) cell technology • Existing facility/ building 137,000 sqfon 52-acre campus • $5.5 million land building • ~$45 million capital equipment,construction & engineering • Provides reliable, domestic supplyof lithium-ion cells (built in America) • Meets growing customer demandfor made in America products &opens new market opportunities • Vertical Integration will improve marginsand increases Electrovaya’smanufacturing capacity • Strong financial return profile • Increases Eletrovaya’scapabilitiesto support exports, construction& engineering • $50.8m loan approved by EXIM,Make More in America (MMIA)initiative1 • $7.25m local and state incentivepackage received • $10-15m annual IRA 45x taxcredits based on output • Rapid IRR Capital Investment External Project Funding • ~$50m capital investment 16 1 ) Subject to certain closing conditions
electrovaya.com NASDAQ : ELVA | TSX : ELVA Our Products: Technology Solutions Complementary technologies targeting a number ofEV applications Infinity Batteries provide industry leading longevity and SSBs provide industry leading energy density In development stage Highest Energy Density Based on proprietary separatorand electrolyte technology Passenger EVs, Over the road(OTR) trucking, aerospace Commercial today Global partners & users Superior Safety & Lowest Cost ofOwnership Based on proprietary separatorand electrolyte technology E-bus, E-forklift, E-trucks, Energystorage systems Solid StateBatteries InfinityBatteries 17
electrovaya.com NASDAQ : ELVA | TSX : ELVA Our Products -Next Gen-Solid State Batteries (SSB) Solid State Promises Much Higher Energy Density vs Conventional Lithium-ion Solid State Batteries offer 2X EnergyDensity over conventional lithium-ion batteries = more range, less weight, less cost EV penetration in the global vehicle market SSB Battery Requirements 2-3% 85% of new cars Energy Density > 350 Wh/Kg (>750 Wh/L) >10 years lifetime Superior Safety Cost < 100 $/Kwh for cells 2035 2022 18 Competitor data sheets/estimates1 1 ) https://iopscience.iop.org/article/10.1149/1945-7111/abae37/pdf
electrovaya.com NASDAQ : ELVA | TSX : ELVA ELVA SSBs -Unparalleled Ceramic Separator Experience Higher Energy Density Enables the use of Lithium metal anode Improved Safety High thermal stability, mitigationof thermal runaway, non-flammable Enhanced Conductivity Inherent conductivity in the ceramic with efficient iontransport at room temperature Increased Cell Longevity Actively suppress the formation of lithium dendrites The transition to SSBs is almost certainly going to require the use of high quality ionically conducting ceramic materials 19
electrovaya.com NASDAQ : ELVA | TSX : ELVA ELVA SSBs -Unparalleled Ceramic Separator Experience Proof-of-Concept SeparatorDevelopment Scaling to > 100cm²Separator Manufacturing SSB Pouch CellPrototyping Electrovaya has developed a scalable manufacturing approach for the preparation offlexible ceramic composite separators for SSBs 20
electrovaya.com NASDAQ : ELVA | TSX : ELVA Financial Performance -Profitability Inflection Achieved Reaching an inflection point…. Set to be one of the only profitable battery companies in North America • 2023 and 2024 revenue increased significantlydue to increased orders driven by strong market demand • Operational efficiencies and cost savings drove improvedEBITDA in 2023 and 2024 • Expanding capacity provides opportunity to furtheraccelerate revenue growth • Breakeven ~$50 million/annum with incremental revenuecontributing to net profits • Margins have improved steadily with Q3FY2024margins at 34% • Trailing 12 month adjusted EBITDA at $5.1 million (>10%) * Non-IFRS Measure: Adjusted EBITDA does not have a standardized meaning under IFRS. Therefore,it is unlikely to be comparable to similar measures presented by other issuers. We believe that certain investors and analysts use Adjusted EBITDA to measure the performance of the business. Adjusted EBITDA is defined as income/loss from operations plus stock-based compensation and depreciation and amortization. Adjusted EBITDA is not a measure of financial performance under IFRS, andmay not be defined and calculated in the same manner by other companies and should not be considered in isolation or as an alternative to IFRS measures. The most directly comparable measure to Adjusted EBITDA calculated in accordance with IFRS is income (loss) from operations. 21 $14,001 $33,994 $49,550 ($3,656) ($221) $5,310 Q3 2022 Q3 2023 Q3 2024 TTM Revenue and EBITDA* (USD$000) TTM Revenue TTM EBITDA
electrovaya.com NASDAQ : ELVA | TSX : ELVA Summary Balance Sheets and Cap Table (US$ in thousands) Cash Trade and other receivables Inventories Other current assets Long-term assets Total Assets Trade & other payables Short-term debt Other Liabilities Total Liabilities Total Equity (Deficiency) Total liabilities and equity 06/30/2024 06/30/2023 Select Balance Sheet Items ($USD) CapTable As of 06/30/2024 Select Equity Items (Nasdaq $USD) As of 12/03/2024 Outstanding shares 34,134,165 Outstanding warrants 1,711,924 Outstanding stock options 4,883,788 Total 40,729,877 Share price $2.84 Market Cap $96.4M Insider ownership ~33% $534 8,159 12,427 6,470 10,220 $37,810 $8,999 18,164 3,027 $30,190 $7,620 $37,810 $723 5,544 9,201 6,259 10,780 $32,507 $8,134 16,853 5,914 $30,901 $1,606 $32,507 22
Investor & Media queries, please contact: Jason Roy VP, Corporate Development & Investor Relations Phone: 905-855-4618 Email: jroy@electrovaya.com www.electrovaya.com Web:
