ELBM News & Events

Electra Battery Materials announces that LG Energy Solution has reaffirmed its partnership with Electra through the signing of a new binding term sheet that details the updated contract period for the long-term supply of battery-grade cobalt from Electra's Ontario refinery. "The updated agreement underscores the strength of our long-standing partnership and LG Energy Solution's role as a cornerstone customer in Electra's vision to build a resilient, North American supply chain for critical minerals," said Trent Mell, CEO of Electra Battery Materials. "As we advance construction of North America's only cobalt sulfate refinery, this offtake agreement reflects growing demand for secure and responsibly sourced cobalt and reinforces Electra's position as a first mover in domestic critical minerals processing. With a fully permitted and funded project now under active construction, our focus is on disciplined execution, meeting key build milestones, and delivering a strategic asset that supports North America's critical minerals security priorities."

Electra Battery Materials announced that its Board of Directors has approved a $73M construction budget and established an execution schedule to achieve mechanical completion of its cobalt sulfate Refinery north of Toronto, marking a significant step toward bringing North America's first battery-grade cobalt refinery into operation. Commissioning activities are expected to commence in the fourth quarter of 2026. Mechanical completion is targeted for the second quarter of 2027. Production ramp-up is expected to start during the third quarter of 2027. Achievement of Commercial Production is targeted for the fourth quarter of 2027. The project schedule establishes a clear pathway from construction execution in 2026 to commercial operations in 2027.

Electra Battery Materials has announced that it has upsized its previously announced At the Market Offering Program, pursuant to which the company may offer and sell, at its discretion and from time to time, through H.C. Wainwright & Co., common shares in the capital of the company having an aggregate offering price of up to $25M.

Electra Battery Materials announced that Chief Financial Officer, CFO, Marty Rendall has informed the Company of his intention to resign from his position at the end of February to pursue an executive opportunity with a larger organization. Rendall will remain with Electra through February to support a smooth transition. The Company has commenced a formal search for a permanent successor and is pleased to announce that David Allen, who previously served as Electra's CFO from 2023 to late 2024, will return as Interim Chief Financial Officer effective February 28, 2026.