Orin Hirschman's questions to Electrovaya (ELVA) leadership • Q3 2025
Question
Orin Hirschman of Aigh Capital Management inquired about the energy storage product, asking about customer commitments and target applications like data centers. He also questioned the purpose of developing ceramic separator technology, the current revenue and growth outlook for the robotics business, and the progress of the solid-state battery R&D, particularly its potential for the drone market.
Answer
CEO Rajshekar DasGupta stated that three customers are awaiting final specifications for the energy storage product, which targets applications like warehouses and data centers where safety commands a premium. He explained the ceramic separator R&D aims to improve margins and bring strategic technology in-house. The robotics business is currently generating about $1-2 million and is expected to grow quickly. On solid-state batteries, he noted progress is being made and the company is investing in better lab facilities to produce samples for potential customers in aerospace and drones.