“Aki Battery Recycling aims to address the environmental impact of future battery waste in Ontario and beyond, by returning battery scrap back into the supply chain,” Electra CEO Trent Mell said in a release on Wednesday. “This venture not only aligns with our mission to onshore North America’s EV battery supply chain, but to do so sustainably and through a scalable solution to meet the growing needs of the North American electric vehicle industry.”
The JV comes almost one month after Electra received a $20 million investment from the United States’ Department of Defense to help it develop its cobalt refinery in Temiskaming Shores, about 500 km north of Toronto. Just last week, it received a bid for an additional $20 million investment from an unnamed party for the refinery, expected to be the first of its kind in North America.
Electra shares gained 7.3% to C$0.88 apiece on Wednesday morning in Toronto, valuing the…
