Electra and Three Fires Group Launch Canada’s First Indigenous-Led Battery Recycling Initiative

Electra and Three Fires Group Propel Canada’s First Indigenous-Led Battery Recycling Initiative

**June 12, 2025** | **Source: Electra Battery Materials Corporation**

TORONTO, June 12, 2025 (GLOBE NEWSWIRE) — Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) and the Three Fires Group have made significant strides in the Aki Battery Recycling joint venture, marking the first Indigenous-led initiative for lithium-ion battery recycling in Canada. Aki is set to introduce a low-emission, circular solution for battery waste management, thereby bolstering domestic supply chains and reducing dependence on overseas processing.

Since the joint venture’s inception in 2024, several key milestones and strategic developments have been achieved:

– The formal establishment of Canada’s first Indigenous-led lithium-ion battery recycling venture, with Reggie George appointed as President and Andre Marais as Director of Strategy & Corporate Development.
– A shortlist of technology partners has been created after site visits and extensive due diligence on advanced battery recycling technologies.
– Ongoing collaboration with government partners aims to secure funding for a bankable feasibility study.
– Prospective site evaluations are underway, with plans to position the facility in proximity to lithium-ion battery manufacturers and First Nations lands to enhance regional impact.
– Integration with Electra’s hydrometallurgical refinery will facilitate local processing of black mass into battery-grade materials for Original Equipment Manufacturers (OEMs), establishing a fully Canadian closed-loop supply chain.

Under the Aki Battery Recycling initiative, Three Fires Group and Electra are working together to form a First Nations-led lithium-ion battery recycling company. Aki will process end-of-life lithium-ion batteries and manufacturing scrap in a cutting-edge pre-processing facility, producing high-grade copper, aluminum, and steel products through a dismantling process. The remaining materials will undergo shredding to produce a high-value intermediate product known as black mass. This black mass contains essential minerals such as lithium, nickel, cobalt, manganese, and graphite, which can be refined into marketable products.

Black mass generated from the pre-processing facility will be processed at Electra’s hydrometallurgical refinery north of Toronto and then supplied back to battery manufacturers, creating a localized closed-loop supply chain.

Reggie George, appointed President of Aki, brings over ten years of project management and capital raising experience. A member of the Kettle and Stony Point First Nation, he has a proven track record with startups in emerging technologies and has been involved in over C$3 billion of infrastructure and development projects in Ontario through his work with the Three Fires Group. Andre Marais, who has over 15 years of experience in technical and commercial roles, serves as Director of Strategy & Corporate Development for Aki.

At the core of Aki Battery Recycling is a commitment to Indigenous economic participation within the expanding battery supply chain. The joint venture aims to deliver meaningful, long-term benefits for First Nations communities while fostering innovation to enhance the sustainability of the critical minerals supply chain.

“Participation of First Nations in Canada’s clean energy economy is crucial,” stated Reggie George, President of Aki. “The Aki partnership is based on mutual respect, shared benefits, and environmental accountability. Recycling lithium-ion batteries aligns with traditional values of stewardship and responsibility toward the land. By reclaiming materials and minimizing waste, Aki represents a regenerative economic growth model that supports both people and the planet. Through this venture, we are creating long-term opportunities and reclaiming ownership of our resources, building an economy that is both clean and culturally rooted.”

Three Fires Group will spearhead capital sourcing and the selection of sites for a state-of-the-art, environmentally friendly recycling facility in Southern Ontario. Electra will provide technical and commercial expertise, along with a refining solution to keep critical minerals from recycled batteries within the domestic supply chain.

Aki’s pre-processing facility is designed for scalability, with plans to expand operations alongside the rising demand for lithium-ion battery recycling. Initially, the facility will recycle enough lithium-ion battery scrap to support the production of up to 100,000 new electric vehicles annually.

“Currently, Ontario lacks battery recycling capabilities, even though projections suggest the province could generate up to 30,000 tonnes of battery scrap by 2030,” said Andre Marais, Director of Strategy & Corporate Development. “By synchronizing the growth of recycling capacity with gigafactory expansion, Aki addresses a significant supply chain gap and positions Ontario as a leader in the responsible recovery of battery materials essential for the energy transition.”

Aki has identified a shortlist of technology partners committed to low-emission processing and high-quality black mass production. Site selection is progressing, focusing on a limited number of locations in Southern Ontario near emerging gigafactories to maximize proximity to key customers and economic benefits for local communities.

Building on its initial scoping study, Aki is currently in discussions with government partners to secure funding for a bankable feasibility study on the pre-processing facility. The project aligns well with various Canadian funding streams, including regional economic development programs and Indigenous loan guarantee initiatives at both federal and provincial levels, many of which prioritize clean technology and Indigenous-led infrastructure.

The black mass produced by Aki will be processed at Electra’s hydrometallurgical refinery, which is expected to result in one of the lowest carbon footprint recycling supply chains globally. Electra’s proprietary process will treat the black mass to recover critical minerals for reintegration into the battery supply chain.

“The integration of Aki’s upstream black mass production with Electra’s downstream hydrometallurgical refining creates a vertically aligned, closed-loop system optimized for efficiency, traceability, and material recovery,” remarked Dr. George Puvvada, Technology Adviser to Aki Battery Recycling. “This alignment ensures consistency in feedstock and process compatibility, enabling higher recovery rates of battery-grade materials that meet OEM specifications for reintegration into North American cell production.”

Unlike most North American pre-processing facilities, Aki will primarily operate on a tolling fee basis through long-term contracts, fostering a strong alignment of interests with battery manufacturers and ensuring consistent returns, irrespective of commodity prices.

“The current bidding model for battery scrap prevalent in North America is unsustainable,” noted Michael Insulan, Vice President, Commercial, at Electra. “Offshore recyclers, supported by substantial financial resources and government subsidies, can outbid domestic competitors, undermining market efficiency. In contrast, long-term tolling agreements provide a more stable, scalable alternative, ensuring predictability in feedstock volume and composition, leading to greater operational efficiency over time.”

Currently, it is estimated that the majority of black mass produced in North America is exported to China, either directly or indirectly, where it is processed into battery-grade materials for Asian supply chains. The partnership between Aki and Electra will enhance Canada’s capacity to retain and reuse critical minerals, supporting domestic industrial growth, which aligns with Canadian economic policies while reducing carbon emissions related to material transport to and from Asia.

“The Aki venture has swiftly progressed from vision to execution,” concluded Reggie George. “We are building an initiative that addresses both economic and environmental needs while placing Indigenous leadership at the forefront of the clean energy transition.”

### About Aki Battery Recycling
Aki Battery Recycling, a joint venture between the Three Fires Group and Electra Battery Materials, is dedicated to advancing lithium-ion battery scrap and waste recycling in North America. Based in Southwestern Ontario, on the treaty territory of the Confederacy of the Three Fires, Aki leverages its partners’ expertise to create sustainable solutions that recover valuable materials from end-of-life batteries and scrap. The facility will shred batteries and scrap, producing a mix of materials, including black mass rich in lithium, nickel, cobalt, and other critical minerals, which can then be sold to Electra for further processing.

### About the Three Fires Group
The Three Fires Group aims to generate wealth and prosperity from economic and infrastructure opportunities for current and future generations. Through its Climate Action Investment Policy, the Group supports First Nation investments in non-fossil fuel, clean energy projects aligned with the Ontario government’s energy supply acquisition strategy. The Three Fires Group has provided technical and investment assistance for the recent Three Fires Nations-Ontario Southwestern Ontario Infrastructure and Economic Opportunities Table, a joint effort to develop clean energy infrastructure in Southern Ontario, including investments for Ontario’s first large-scale electric vehicle battery manufacturing plants and new regional transmission lines.

### About Electra Battery Materials
Electra is a leader in advancing North America’s critical minerals supply chain for lithium-ion batteries. The company is focused on developing North America’s only cobalt sulfate refinery and executing a phased strategy to onshore critical minerals refining while reducing reliance on foreign supply chains. Electra’s strategy also includes nickel refining and battery recycling, with growth projects aimed at integrating black mass recycling into its refining complex and exploring cobalt production opportunities in Bécancour, Quebec.

For more information, please visit [www.akirecycling.com](http://www.akirecycling.com) and [www.ElectraBMC.com](http://www.electrabmc.com).