Electra Battery Materials Finalizes C$17.5 Million Government Funding for Ontario Refinery

08:32 AM EDT, 08/26/2026 (MT Newswires) -- Electra Battery Materials (ELBM.V) has finalized definitive agreements to secure C$17.5 million on funding from the government-backed Invest Ontario to advance construction of the company's cobalt sulfate refinery in Ontario. Electra expects the facility to become the only refinery in North America producing battery-grade cobalt sulfate when it starts commercial production in the fourth quarter of 2027, the company said Wednesday. The company said it has secured 100% of the cobalt feedstock required for the facility's commissioning and ramp-up through 2027 under a supply agreement with Glencore. "At a time when secure supply chains have never mattered more, Electra's cobalt refinery will onshore a key capability needed to support North America's manufacturing sectors," said Vic Fedeli, Ontario's minister of economic development, job creation and trade.