Electra Battery Materials (NASDAQ:ELBM; TSXV:ELBM) today announced the signing of a memorandum of understanding (MOU) with the Three Fires Group (TFG) to form a joint venture focused on the recycling of lithium-ion battery waste in Ontario underpinned by Electra’s propriety black mass processing capabilities that recover high value elements, including lithium, nickel, cobalt, and graphite.
Under the joint venture, Electra and TFG will collaborate to source and process lithium-ion battery waste generated by manufacturers of current and future battery cells, electric vehicles, and energy storage systems. The waste will be processed at a facility to be located in southern Ontario to produce black mass material that will be further refined using Electra’s proprietary hydrometallurgical process at its refinery complex in Colbalt, Ont. 450km north of Toronto.
The joint venture aims to secure a net-zero industrial facility that can be used to shred and separate lithium-ion batteries and produce black mass material. The joint venture partners have also agreed to collaborate on the development of economic studies of sourcing of engineering, procurement, construction, and management requirements necessary to launch the battery waste recycling facility.
“Ontario is quickly emerging as an important centre in the global EV supply chain, potentially providing economic prosperity for generations to come,” said Reggie George, executive director, special projects and partnerships with the Three Fires Group. “Critical to this success will be ensuring that all manufacturing activities related to the EV supply chain are carried out sustainably and responsibly. We believe First Nations should be leading the charge in ensuring a circular economy around the transition to EVs, and we’re proud to be taking the first steps together with Electra.”
For more information about the Three Fires Group, visit www.threefires.com.
For more information on Electra, visit www.ElectraBMC.com.