# Amazon and Electrovaya sign battery supply agreement with equity warrants

Amazon has entered an agreement with Electrovaya whereby Amazon receives warrants to buy over 20% of Electrovaya's shares, vesting as Amazon purchases up to US$280 million in batteries over the next decade. The batteries are used in forklifts.

- Type: Contract
- Announced: 2026-07-15
- Where: Mississauga, Ontario, Canada
- Value: $280.0M
- Status: announced
- Products: batteries for forklifts
- Sectors: [Material Handling](https://endata.com/sectors/material-handling.md)

## Companies

- [Electrovaya](https://endata.com/companies/15133.md) (supplier)
- [Amazon.com Inc](https://endata.com/companies/23369.md) (customer)

## Sources

- [financialpost.com](https://financialpost.com/energy/battery-maker-electrovaya-future-amazon-ownership-stake/), 2026-07-15: "Amazon received about 13.8 million warrants to buy Electrovaya shares, priced at the five-day volume-weighted average prior to the deal."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.