US DoD awards $20m to Electra Battery Materials Corp for building a cobalt sulfate facility in Ontario for EV battery production.

The US Department of Defense awarded a $20 million grant to Electra Battery Materials Corp., a Canadian firm, for building a cobalt sulfate facility in Ontario. This facility, North America's only refinery for cobalt used in lithium-ion batteries for electric vehicles, is part of a $250 million project near Temiskaming Shores, 500 km north of Toronto. The funds are part of the Pentagon's efforts to secure metals needed for electric vehicle manufacturing and transitioning away from fossil fuels.

August 19, 2024
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