ELBM News & Events

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.

Electra Battery Materials Corporation has awarded a US$6.1 million contract to EXP Services to provide engineering, project management, and construction management services during the construction phase of Electra's Ontario battery materials refinery project. This partnership enhances Electra's project execution capabilities as the Company advances North America's first cobalt sulfate refinery toward mechanical completion and commissioning in 2027. "Electra is focused on commissioning its cobalt sulfate refinery in 2027," said Trent Mell, CEO. "As governments and the private sector seek to secure critical minerals and de-risk critical mineral supply chains, Electra's facility is positioned as a strategic asset to support North America's military and industrial base."