Cloud environments are being increasingly used for the deployment and execution of complex applications and particularly component-based ones. They are expected to provide elasticity, among other characteristics, in order to allow a deployed application to rapidly change the amount of its allocated resources in order to meet the variation in demand while ensuring a given Quality of Service (QoS). However, establishing a correct elastic component-based application is not guaranteed in Cloud. Indeed, applying elasticity mechanisms should preserve functional properties and improve non-functional properties related to QoS, performance and resource consumption. In this paper, we propose an approach for the verification and deployment of elastic component-based applications. Our approach is based on the Event-B formal method. In fact, we formally model the component artifacts using Event-B and we define the Event-B events that model the elasticity mechanisms (scaling up and down) for component-based applications. Furthermore, we formally verify that our approach preserves the semantics of the component-based applications by using the proof obligations and the ProB animator. Once the elastic component-based applications are validated, they can be deployed in a Cloud environment using an elastic deployment framework which we have developed.