Electra Advances Financing for North America's Only Cobalt Sulfate Refinery

Company Overview - Electra Battery Materials Corporation is developing North America's only cobalt sulfate refinery, with a focus on low-carbon, ethically-sourced battery materials [6] - The refinery is located in Temiskaming Shores, Ontario, and aims to produce 6,500 tonnes of cobalt per year, supporting the production of up to 1 million electric vehicles (EVs) annually [5] Government Support and Funding - The Government of Canada has provided a conditional contribution to support the completion of the cobalt sulfate refinery [1] - Electra has secured US$54 million in non-dilutive funding, including US$34 million in government support and a US$20 million strategic investment proposal [2] Industry Position and Impact - Electra's refinery will play a critical role in strengthening North America's electric vehicle supply chain, as over 90% of cobalt sulfate production currently occurs in China [3] - The facility is projected to have the lowest carbon footprint of any refinery of its kind globally, contributing to a net-zero economy [5] Future Developments - The company is actively developing additional non-dilutive funding options and is advancing its full financing solution as planned [4] - Electra is also exploring potential cobalt sulfate processing in Bécancour, Quebec, and nickel sulfate production in North America [6]