The agreement grants Amazon warrants to acquire nearly 13.9 million shares, contingent upon the e-commerce giant hitting $280 million in cumulative future purchases. A portion of these warrants vested immediately upon the signing, underscoring the depth of the partnership. This move comes at a critical time for the Toronto-listed company, which has seen its share price slide 15% over the last three months.

Electrovaya intends to leverage this relationship to scale its Infinity battery systems, which integrate proprietary lithium-ion tech with high-power architectures designed for data centers and industrial logistics. While the company maintains research and engineering operations in Canada, the focus has shifted toward expanding its footprint in the United States to meet the specific energy storage demands of its new corporate partner.