Electra Battery Materials wins $20M award from Department of Defense

The Department of Defense announced a $20M award via the Defense Production Act Investments office to Electra Battery Materials. The objective of the award “is to complete an industrial scale hydrometallurgical plant and establish production of cobalt sulfate at the company’s facility in Temiskaming Shores, Ontario, Canada,” the Defense Department said in a statement. The award utilizes funds from the Ukraine Supplemental Appropriations Act of 2022 and supports the 2024 National Defense Industrial Strategy goal of expanding domestic production of critical minerals.