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Electra Awarded $20 Million from U.S. Department of Defense for Cobalt Refinery Project

Aug 19, 2024•almost 2 years ago

Contract Type

partnership

TorontoManufacturingEnergyRenewable EnergyMining

Description

Electra Battery Materials Corporation has been awarded $20 million by the U.S. Department of Defense to support the construction and commissioning of North America’s only cobalt sulfate refinery, aimed at producing battery grade materials for lithium-ion batteries. The project, located in Temiskaming Shores, north of Toronto, is projected to have the lowest carbon footprint in the world.

Company Information

Company

Electra Battery Materials Corporation

Location

133 Richmond Street West, Suite 602

Toronto, Ontario, Canada

About

Electra is building North America’s only fully integrated, localized and environmentally sustainable battery materials park. Leveraging the company’s own mining assets and business partners, the Electra Battery Materials Park will host cobalt and nickel sulfate production plants, a large-scale lithium-ion battery recycling facility, and battery precursor materials production, which will serve both North American and global customers. Electra Battery Materials is an integral part of the North American battery supply chain, providing low-carbon, sustainable and traceable raw materials for the region’s fast growing electric vehicle industry.

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