Latest news with #Electra
The Market Online
7 hours ago
- Business
- The Market Online
North America's lone cobalt refinery begins path to production
Electra Battery Materials (TSXV:ELBM) has initiated its early works program towards restarting North America's only cobalt refinery Electra is a critical minerals company focused on cobalt sulfate refining, nickel refining and battery recycling for the North American lithium-ion battery market Electra Battery Materials stock has given back 38.56 per cent year-over-year Electra Battery Materials (TSXV:ELBM) has initiated its early works program towards restarting North America's only cobalt refinery. The battery-grade facility, located north of Toronto, employs hydrometallurgical processing with a low-carbon focus, and could play a potentially meaningful role in onshoring North America's critical metals supply chain and increasing the continent's stake in the growing US$17 billion cobalt market, which is expected to post a 6.7 per cent compound annual growth rate through 2030. The early-works program, which will cost an estimated C$750,000, will focus primarily on the refinery's solvent extraction (SX) facility, including: Installing previously delivered processing equipment. Pouring reinforced concrete bases for extraction tanks. Finalizing roofing work. Concurrently, tender and engineering preparations are underway to streamline the path to full-scale construction. These activities follow a C$200,000 upgrade to the refinery's septic, power and lighting systems, as well as the recent delivery of a prefabricated electrical house. The restart is partially supported by US$20 million from the U.S. Department of Defense under the Defense Production Act, awarded in August 2024, in addition to funding from Canada's Strategic Innovation Fund. According to Thursday's news release, 'backed by strong government endorsements and the refinery already significantly advanced, Electra expects it will be able to finalize the balance of the financing required to move the refinery into production.' Leadership insights 'The early works program represents a critical step in transitioning the refinery site back to construction mode,' Mark Trevisiol, vice president of Projects at Electra Battery Materials, said in a statement. 'By focusing on key infrastructure, particularly in the SX area, we are ensuring the site is ready for a seamless ramp-up as soon as full funding is in place.' 'This project reflects our disciplined approach to advancing the refinery project,' commented Electra's chief financial officer, Marty Rendall. 'The early works program enables us to build critical infrastructure and maintain project momentum while we work to finalize the remaining elements of our funding package.' 'Our early works program is a clear signal: Electra is not standing still,' added Trent Mell, Electra's CEO. 'The early works program lays the physical and operational groundwork to accelerate into full construction. We are confident in our project and its strategic importance. Preparing for the final leg of construction is a reaffirmation of our commitment to delivering North America's only battery-grade cobalt refinery.' About Electra Battery Materials Electra is a critical minerals company focused on cobalt sulfate refining, nickel refining and battery recycling for the North American lithium-ion battery market. Electra Battery Materials stock (TSXV:ELBM) opened unchanged trading at C$1.45. The stock has given back 38.56 per cent year-over-year. Join the discussion: Find out what everybody's saying about this critical metals company on the Electra Battery Materials Corp. Bullboard and check out the rest of Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
Yahoo
10 hours ago
- Business
- Yahoo
Electra Commences Early Works to Support Restart of North America's Only Cobalt Refinery
TORONTO, June 19, 2025 (GLOBE NEWSWIRE) -- Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) ('Electra' or the 'Company') announces the launch of an early works program at its cobalt refinery north of Toronto, reaffirming the Company's commitment to onshoring North America's critical minerals processing and building a resilient, domestic battery materials supply chain. The early works program encompasses targeted site-level activities designed to prepare for the restart of full-scale construction. The initiative reflects growing momentum around the project, supported by strategic funding from both the U.S. and Canadian governments. The work, budgeted at approximately C$750,000, is particularly focused on advancing the solvent extraction facility. 'The early works program represents a critical step in transitioning the refinery site back to construction mode,' said Mark Trevisiol, Vice President, Projects at Electra. 'By focusing on key infrastructure, particularly in the SX area, we are ensuring the site is ready for a seamless ramp-up as soon as full funding is in place.' Work scheduled over the summer will focus on advancing high-priority activities in the solvent extraction (SX) area, which is a key component of Electra's hydrometallurgical refining circuit. Crews will relocate and install SX processing equipment previously delivered to site, pour reinforced concrete bases for the SX tanks, and complete structural roofing work on the SX building. In parallel, tender preparation and engineering support activities will proceed to facilitate the transition to full construction. These works follow a C$200,000 investment earlier this year into the septic, power and lighting systems, as well as the recent delivery and placement of the site's prefabricated electrical house, all further enhancing construction readiness. 'This project reflects our disciplined approach to advancing the refinery project,' said Electra CFO, Marty Rendall. 'The early works program enables us to build critical infrastructure and maintain project momentum while we work to finalize the remaining elements of our funding package.' The early works initiative is partially supported by a US$20 million award from the U.S. Department of Defense under the Defense Production Act, announced in August 2024. This funding underscores the strategic role of Electra's refinery in strengthening domestic industrial capacity and securing North America's critical minerals supply chain. The project has also received support from Canada's Strategic Innovation Fund. 'Our early works program is a clear signal: Electra is not standing still,' said Trent Mell, CEO of Electra. 'The early works program lays the physical and operational groundwork to accelerate into full construction. We are confident in our project and its strategic importance. Preparing for the final leg of construction is a reaffirmation of our commitment to delivering North America's only battery-grade cobalt refinery.' Electra's refinery is the only project in North America designed to produce battery-grade cobalt sulfate at scale. By integrating advanced hydrometallurgical processing and pursuing low-carbon production pathways, Electra is redefining how critical minerals are refined, offering a cleaner, traceable alternative to overseas supply chains. Following a temporary pause in construction in 2023, Electra has continued to make strategic progress toward completing the remaining financing needed to bring the cobalt sulfate refinery into full commercial operation. With foundational funding already secured, including significant contributions from both the U.S. and Canadian governments, the Company is actively advancing complementary funding initiatives to support project completion. Backed by strong government endorsements and the refinery already significantly advanced, Electra expects it will be able to finalize the balance of the financing required to move the refinery into production. About Electra Battery Materials Electra is a leader in advancing North America's critical minerals supply chain for lithium-ion batteries. Currently focused on developing North America's only cobalt sulfate refinery, Electra is executing a phased strategy to onshore critical minerals refining and reduce reliance on foreign supply chains. In addition to establishing the cobalt sulfate refinery, Electra's strategy includes nickel refining and battery recycling. Growth projects include integrating black mass recycling at its existing refining complex, evaluating opportunities for cobalt production in Bécancour, Quebec, and exploring nickel sulfate production potential in North America. For more information, please visit ContactHeather SmilesVice President, Investor Relations & Corporate Development Electra Battery Materialsinfo@ Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements and forward-looking information (together, 'forward-looking statements') within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as 'plans', 'expects', 'estimates', 'intends', 'anticipates', 'believes' or variations of such words, or statements that certain actions, events or results 'may', 'could', 'would', 'might', 'occur' or 'be achieved'. Forward-looking statements are based on certain assumptions, and involve risks, uncertainties and other factors that could cause actual results, performance, and opportunities to differ materially from those implied by such forward-looking statements. Among the bases for assumptions with respect to the potential for additional government funding are discussions and indications of support from government actors based on certain milestones being achieved. Factors that could cause actual results to differ materially from these forward-looking statements are set forth in the management discussion and analysis and other disclosures of risk factors for Electra Battery Materials Corporation, filed on SEDAR+ at and on EDGAR at Other factors that could lead actual results to differ materially include changes with respect to government or investor expectations or actions as compared to communicated intentions, and general macroeconomic and other trends that can affect levels of government or private investment. Although the Company believes that the information and assumptions used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. A photo accompanying this announcement is available at
Hamilton Spectator
10 hours ago
- Business
- Hamilton Spectator
Electra Commences Early Works to Support Restart of North America's Only Cobalt Refinery
TORONTO, June 19, 2025 (GLOBE NEWSWIRE) — Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) ('Electra' or the 'Company') announces the launch of an early works program at its cobalt refinery north of Toronto, reaffirming the Company's commitment to onshoring North America's critical minerals processing and building a resilient, domestic battery materials supply chain. The early works program encompasses targeted site-level activities designed to prepare for the restart of full-scale construction. The initiative reflects growing momentum around the project, supported by strategic funding from both the U.S. and Canadian governments. The work, budgeted at approximately C$750,000, is particularly focused on advancing the solvent extraction facility. 'The early works program represents a critical step in transitioning the refinery site back to construction mode,' said Mark Trevisiol, Vice President, Projects at Electra. 'By focusing on key infrastructure, particularly in the SX area, we are ensuring the site is ready for a seamless ramp-up as soon as full funding is in place.' Work scheduled over the summer will focus on advancing high-priority activities in the solvent extraction (SX) area, which is a key component of Electra's hydrometallurgical refining circuit. Crews will relocate and install SX processing equipment previously delivered to site, pour reinforced concrete bases for the SX tanks, and complete structural roofing work on the SX building. In parallel, tender preparation and engineering support activities will proceed to facilitate the transition to full construction. These works follow a C$200,000 investment earlier this year into the septic, power and lighting systems, as well as the recent delivery and placement of the site's prefabricated electrical house, all further enhancing construction readiness. 'This project reflects our disciplined approach to advancing the refinery project,' said Electra CFO, Marty Rendall. 'The early works program enables us to build critical infrastructure and maintain project momentum while we work to finalize the remaining elements of our funding package.' The early works initiative is partially supported by a US$20 million award from the U.S. Department of Defense under the Defense Production Act, announced in August 2024. This funding underscores the strategic role of Electra's refinery in strengthening domestic industrial capacity and securing North America's critical minerals supply chain. The project has also received support from Canada's Strategic Innovation Fund. 'Our early works program is a clear signal: Electra is not standing still,' said Trent Mell, CEO of Electra. 'The early works program lays the physical and operational groundwork to accelerate into full construction. We are confident in our project and its strategic importance. Preparing for the final leg of construction is a reaffirmation of our commitment to delivering North America's only battery-grade cobalt refinery.' Electra's refinery is the only project in North America designed to produce battery-grade cobalt sulfate at scale. By integrating advanced hydrometallurgical processing and pursuing low-carbon production pathways, Electra is redefining how critical minerals are refined, offering a cleaner, traceable alternative to overseas supply chains. Following a temporary pause in construction in 2023, Electra has continued to make strategic progress toward completing the remaining financing needed to bring the cobalt sulfate refinery into full commercial operation. With foundational funding already secured, including significant contributions from both the U.S. and Canadian governments, the Company is actively advancing complementary funding initiatives to support project completion. Backed by strong government endorsements and the refinery already significantly advanced, Electra expects it will be able to finalize the balance of the financing required to move the refinery into production. About Electra Battery Materials Electra is a leader in advancing North America's critical minerals supply chain for lithium-ion batteries. Currently focused on developing North America's only cobalt sulfate refinery, Electra is executing a phased strategy to onshore critical minerals refining and reduce reliance on foreign supply chains. In addition to establishing the cobalt sulfate refinery, Electra's strategy includes nickel refining and battery recycling. Growth projects include integrating black mass recycling at its existing refining complex, evaluating opportunities for cobalt production in Bécancour, Quebec, and exploring nickel sulfate production potential in North America. For more information, please visit . Contact Heather Smiles Vice President, Investor Relations & Corporate Development Electra Battery Materials info@ 1.416.900.3891 Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Note Regarding Forward-Looking Statements This news release may contain forward-looking statements and forward-looking information (together, 'forward-looking statements') within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as 'plans', 'expects', 'estimates', 'intends', 'anticipates', 'believes' or variations of such words, or statements that certain actions, events or results 'may', 'could', 'would', 'might', 'occur' or 'be achieved'. Forward-looking statements are based on certain assumptions, and involve risks, uncertainties and other factors that could cause actual results, performance, and opportunities to differ materially from those implied by such forward-looking statements. Among the bases for assumptions with respect to the potential for additional government funding are discussions and indications of support from government actors based on certain milestones being achieved. Factors that could cause actual results to differ materially from these forward-looking statements are set forth in the management discussion and analysis and other disclosures of risk factors for Electra Battery Materials Corporation, filed on SEDAR+ at and on EDGAR at . Other factors that could lead actual results to differ materially include changes with respect to government or investor expectations or actions as compared to communicated intentions, and general macroeconomic and other trends that can affect levels of government or private investment. Although the Company believes that the information and assumptions used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. A photo accompanying this announcement is available at
Yahoo
14 hours ago
- Business
- Yahoo
Lockheed Martin and Electra Expand Collaboration to Accelerate EL9 Ultra-STOL Commercialization
PARIS, June 19, 2025 /PRNewswire/ -- Lockheed Martin Skunk Works® (NYSE: LMT) and Inc. ("Electra") signed a Memorandum of Understanding to explore opportunities for Electra's EL9 ultra-short takeoff and landing (Ultra-STOL) aircraft. Lockheed Martin, a global defense technology company, will collaborate with Electra to explore ways to accelerate the development of the EL9 in areas including digital engineering, manufacturing, supply chain, sustainment, and global business development. Additionally, the Skunk Works and Electra teams will assess opportunities for potential programs of record with the U.S. Department of Defense and global customers. The Electra EL9 will transform commercial and military aviation for applications including last mile logistics, mobile power generation and emergency response. The Ultra-STOL EL9 can quietly take off and land in 150 feet and from unimproved surfaces, enabling operations in austere areas while retaining the safety, cost and range benefits of a fixed-wing aircraft. The EL9's ability to carry 1,000 lbs. over 1,000 miles enables an array of novel use cases for commercial and defense users. "Lockheed Martin's breadth of manufacturing, supply chain and military customer expertise is the perfect complement to Electra's EL9 commercialization strategy," said Marc Allen, CEO of Electra. "This relationship will accelerate our speed to market to bring the EL9's transformative capabilities to our military customers." "Electra has driven significant innovation in the hybrid-electric space, and we're excited to collaborate with them to accelerate their development," said OJ Sanchez, vice president and general manager at Lockheed Martin Skunk Works®. The agreement deepens the strategic relationship between Lockheed Martin and Electra. In 2022, Lockheed Martin Ventures signed a strategic cooperation agreement to invest in Electra's Series A funding round. About Lockheed MartinLockheed Martin is a global defense technology company driving innovation and advancing scientific discovery. Our all-domain mission solutions and 21st Century Security® vision accelerate the delivery of transformative technologies to ensure those we serve always stay ahead of ready. More information at About Inc. (Electra) is an advanced aerospace company building hybrid-electric Ultra Short aircraft that achieve never-before performance advantages to fly people and cargo seamlessly without airports, emissions, or noise. With the Ultra Short, Electra is pioneering Direct Aviation, the next level of connectivity that brings air travel closer to where we live, work, and play. Electra's Ultra Short technology delivers 2.5X the payload and 10X longer range with 70% lower operating costs than helicopters and eVTOLs with significantly greater safety and far less certification risk. Electra's team includes some of the most respected and successful entrepreneurs and engineers in novel aircraft design, with over 40 prior aircraft successfully developed and/or certified. Electra's contracted customers include NASA, the U.S. Air Force, the U.S. Army, and the U.S. Navy, along with over 2,200 aircraft under Letters of Intent from 50+ commercial customers, including both airlines and helicopter operators. Media Contact:Media@ View original content to download multimedia: SOURCE
Yahoo
a day ago
- Business
- Yahoo
Electra Battery Materials price target lowered to $2.20 from $2.40 at H.C. Wainwright
H.C. Wainwright analyst Heiko Ihle lowered the firm's price target on Electra Battery Materials (ELBM) to $2.20 from $2.40 and keeps a Buy rating on the shares following the recent announcement that a feasibility level engineering study covering the construction of a modular battery recycling facility has been completed. The firm expects this facility to recover lithium, nickel, cobalt, manganese, and graphite from lithium-ion battery manufacturing scrap and end-of-life batteries while using Electra's proprietary hydrometallurgical process, the analyst tells investors in a research note. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See today's best-performing stocks on TipRanks >> Read More on ELBM: Disclaimer & DisclosureReport an Issue Electra and Three Fires Group Advance Indigenous-Led Battery Recycling in Canada Electra Battery Materials, Three Fires advance Aki Battery joint venture Electra Advances Battery Recycling with New Facility Feasibility Study Electra Battery completes feasibility study on battery recycling facility Electra Supports Ontario's $500M Critical Minerals Fund Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
