Electra Battery Materials Corp
XTSX:ELBM
Electra Battery Materials Corp
Electra Battery Materials Corp is a CA-based company operating in Metals & Mining industry. The company is headquartered in Toronto, Ontario and currently employs 19 full-time employees. The company went IPO on 2012-10-02. Electra Battery Materials Corporation, formerly First Cobalt Corp., is a Canada-based company. The firm is engaged in building North America’s integrated and localized battery materials park. The Company’s mining assets and business partners is leveraged by the Electra Battery Materials Park to host cobalt and nickel sulfate production plants, which is a large-scale lithium-ion battery recycling facility, and battery precursor materials production that will serve both North American and global customers. The company is a part of the North American battery supply chain, providing low-carbon and traceable raw materials for the region’s electric vehicle industry.
Electra Battery Materials Corp is a CA-based company operating in Metals & Mining industry. The company is headquartered in Toronto, Ontario and currently employs 19 full-time employees. The company went IPO on 2012-10-02. Electra Battery Materials Corporation, formerly First Cobalt Corp., is a Canada-based company. The firm is engaged in building North America’s integrated and localized battery materials park. The Company’s mining assets and business partners is leveraged by the Electra Battery Materials Park to host cobalt and nickel sulfate production plants, which is a large-scale lithium-ion battery recycling facility, and battery precursor materials production that will serve both North American and global customers. The company is a part of the North American battery supply chain, providing low-carbon and traceable raw materials for the region’s electric vehicle industry.
Cash Position: Electra ended Q4 with $8.2 million in cash and marketable securities, down from $15.7 million last quarter, mainly due to refinery construction and black mass trial costs.
Funding Progress: The company secured a $5 million federal grant in Q1 as a bridge to larger funding and has $5.1 million in committed government funds yet to be received.
Debt Restructuring: Electra extended debt maturities to 2028 and restructured its notes to reduce potential dilution, receiving $13.7 million in net proceeds from a private placement.
Operational Advancements: The refinery is about 40% constructed, with major buildings and infrastructure in place. The plant can ramp up from 5,000 to 6,500 tonnes per year of cobalt sulfate with minimal extra capital.
Black Mass Success: Electra processed 40 tonnes of black mass and produced 28 tonnes of nickel-cobalt MHP, with improved recovery rates and high-purity lithium carbonate approaching 97%.
Strategic Partnerships: New feedstock deal with Eurasian Resources Group and expanded offtake with LG Energy Solution to cover up to 80% of production; supply is largely secured for the foreseeable future.
IRA Compliance Focus: The company aims to be a leading North American supplier of Inflation Reduction Act (IRA)-compliant cobalt materials as US import rules tighten and tariffs increase.
