Electra Battery Materials Corporation specializes in producing and recycling essential materials for electric vehicle batteries in North America. The company focuses on refining cobalt and nickel sulfate while developing sustainable battery recycling solutions. Through its integrated approach, Electra aims to establish a reliable domestic supply chain for EV manufacturers, reducing dependence on overseas materials. The company’s operations span mining, refining, and recycling, with production facilities designed to support the manufacture of one million electric vehicles annually. With a current replacement value of approximately US$200 million, Electra targets 6,500 tons of annual production to secure 4% of the global cobalt sulfate market.
Battery Technology
Electra’s primary technological focus centers on its Ontario refinery, which implements hydrometallurgical processes for producing battery-grade cobalt sulfate. This facility incorporates advanced recycling capabilities to recover critical materials from end-of-life batteries, including lithium, nickel, cobalt, and graphite. The recycling process achieves 99% purity in recovered lithium carbonate, demonstrating significant technical advancement in material recovery.
The company’s Bécancour project in Quebec integrates cobalt sulfate production with precursor manufacturing, utilizing hydroelectric power to minimize environmental impact. Additionally, Electra’s collaboration on nickel sulfate production addresses a crucial gap in North American battery material manufacturing. The Iron Creek cobalt-copper deposit in Idaho serves as a strategic asset, supporting domestic supply chain development for battery materials.
Through these integrated technologies, Electra maintains strict quality controls and environmental standards while focusing on creating traceable, sustainable battery materials. The company’s processes are designed to reduce carbon emissions throughout the production cycle, supporting the automotive industry’s transition to electric vehicles.
Recent Projects
In January 2025, Electra appointed Marty Rendall as CFO, effective January 1, 2025. The company received a $20 million award from the U.S. Department of Defense to advance its cobalt sulfate refinery project, which aims to produce 5,000 tonnes of battery-grade cobalt annually. Additionally, Electra secured $5 million from the Government of Canada to enhance its battery recycling technology, successfully processing over 40 tonnes of end-of-life battery materials.
Investors
Electra’s financial backing includes significant support from the U.S. Department of Defense through a $20 million DPA Title III award. The company has secured a non-binding term sheet for an additional $20 million prepayment facility from a strategic partner in the battery materials sector. LG Energy Solution has committed to purchasing up to 80% of Electra’s cobalt sulfate production for the first five years of operation. Recent financing includes a $5 million transaction with convertible notes holders completed in November 2024.
Business Details
Location: Toronto, Ontario, Canada
Website: https://electrabmc.com
LinkedIn: https://www.linkedin.com/company/13272007
