Electra Advances Financing for North America’s Only Cobalt Sulfate Refinery
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 23 2025
0mins
Source: Globenewswire
Government Support for Cobalt Refinery: Electra Battery Materials Corporation received a conditional contribution from the Government of Canada to support its cobalt sulfate refinery in Ontario, which is set to be North America's first and only facility of its kind. The company has secured US$54 million in non-dilutive funding, including government support.
Impact on Electric Vehicle Supply Chain: Once fully operational, the refinery is expected to produce 6,500 tonnes of cobalt annually, supporting the production of up to 1 million electric vehicles (EVs) each year and contributing to a sustainable battery materials supply chain in North America.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
