ELLICOTT, NY - Exciting developments are underway in Chautauqua County as Electrovaya Inc., a leading lithium-ion battery technology and manufacturing company, has secured a $50.8 million loan from the Export-Import Bank of the United States (EXIM).
The funding, part of EXIM’s Make More in America initiative, will support the buildout of Electrovaya’s state-of-the-art battery manufacturing facility in Jamestown, NY.
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 Jamestown facility is scheduled to begin commercial shipments by early 2026.
“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,” said Dr. Raj DasGupta, CEO of Electrovaya. “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.
“With today’s transaction, we are underscoring EXIM’s commitment to the expansion of domestic exports and the rebuilding of a resilient stateside supply chain. Ushering through our fifth Make More in America deal further highlights EXIM’s efforts to support U.S. manufacturing in transformational export areas while creating jobs and increasing export competitiveness across the global landscape.” said EXIM President and Chair Reta Jo Lewis.
County Executive Paul M. Wendel Jr. celebrated the news, saying, “This investment is a testament to the potential of Jamestown as a hub for cutting-edge manufacturing and innovation. Electrovaya’s new facility will bring high-quality jobs and economic growth to our community while advancing clean energy solutions. We are proud to support this exciting initiative and look forward to seeing its impact unfold.”
Wendel also extended his gratitude to the Chautauqua County Industrial Development Agency (CCIDA) and its CEO, Mark Geise, who also serves as the Deputy County Executive for Economic Development, for their critical role in fostering projects like this.
“The CCIDA, under Mark Geise’s leadership, has been instrumental in attracting and supporting businesses like Electrovaya. Their dedication to economic development is paving the way for a brighter future in Chautauqua County, and we deeply appreciate their hard work and commitment to making projects like this a reality.”
Additionally, Wendel acknowledged Congressman Nick Langworthy for his unwavering support at the federal level.
“Congressman Langworthy has been a steadfast advocate for Chautauqua County and a key partner in helping us secure the resources needed for projects of this scale. His commitment to economic growth and job creation has been invaluable, and we are grateful for his leadership in making this funding possible.”
Electrovaya’s Jamestown facility will benefit from various state and federal incentives, including the IRA 45X production tax credits and New York State grants. With these resources, the company is poised to lead in domestic battery production and contribute to a more sustainable energy future.
