“Interest from sophisticated strategic partners indicates strong confidence in Electra, and with the continued support of investors, governments and downstream customers, we are well-positioned to realize our vision of a North American battery materials supply chain,” CEO Trent Mell stated in a news release.
Electra’s low-carbon, permitted hydrometallurgical refining complex north of Toronto has historically produced nickel and cobalt. The facility is currently being expanded and modified to provide North America battery makers with a domestic source of cobalt sulphate for lithium-ion batteries. The refining complex was also the site of a year-long battery recycling demonstration plant. It is estimated that the entire cobalt facility will cost $250 million to build.
In August, Toronto-based Electra was awarded $20 million by the US Department of Defense pursuant to Title III of the Defense Production Act (DPA) to build its…
