Lithium-ion Battery manufacturing company Electrovaya Inc. has secured a $50.8 million loan that will support its buildout of its new facility in Falconer.
The funding from the Export-Import Bank of the United States‘ (EXIM) Make More in America initiative will support the retrofitting of the former Heidenhain facility in the Mason Industrial Park to be a gigawatt factory.
The funds will be used to cover critical equipment, engineering, and setup costs as Electrovaya scales operations to meet the rising demand for its proprietary Infinity lithium-ion ceramic cells. These cells are designed with industry-leading longevity and safety, catering to mission-critical electrified applications across the globe. The Falconer facility is scheduled to begin commercial shipments by early 2026.
Electrovaya CEO Dr. Raj DasGupta said, “The funding from EXIM is instrumental to Electrovaya’s long term strategy to expand capacity and establish lithium-ion cell production in the United States. Our facility in Jamestown will be powered by clean renewable energy and will produce the longest lasting and safest lithium-ion cells in the world when it starts commercial shipments in early 2026. We expect this expansion to support our plans for exponential growth and lead to improvements in our margins through vertical integration. Finally, I fully expect that the establishment of this manufacturing facility will also lead to an uptick in demand for our products since we will produce these exciting products domestically.”
In addition to advancing green energy technology, the project is expected to generate over 250 jobs in Chautauqua County and strengthen supply chains for lithium-ion battery production in the United States. The facility will also support exports to markets including Japan, Canada, and Australia.
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