Electra Battery Materials Advances Battery Recycling with New Facility Feasibility Study

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**Electra Completes Feasibility Study for Battery Recycling Facility**

Toronto, Ontario – (June 5, 2025) – Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) is excited to announce the completion of a Class 3 Engineering Study for the construction of a modular battery recycling facility adjacent to its cobalt sulfate refinery located north of Toronto. This facility is designed to recover lithium, nickel, cobalt, manganese, and graphite from manufacturing scrap and end-of-life lithium-ion batteries, utilizing Electra’s proprietary hydrometallurgical process. This innovative process was developed and validated through a year-long pilot program that processed black mass obtained from an industry partner. The next phase of the project, partly funded by Natural Resources Canada, will involve operating the recycling process under continuous and semi-continuous conditions to imitate commercial-scale throughput.

“We are paving the way towards a closed-loop, domestically sourced battery materials supply chain,” stated Trent Mell, CEO of Electra. “Cobalt recovered at the recycling facility will be directly integrated into our cobalt sulfate refinery, which is currently under advanced construction, while other critical minerals will re-enter the battery supply chain. This integration enhances North America’s energy security and positions Electra as a pioneer in the continent’s evolving battery ecosystem.”

**Strategic Synergy with Cobalt Refinery and Aki Battery Recycling**

The feasibility study details how black mass will be processed at the new facility to produce essential battery materials, including lithium, nickel, cobalt, manganese, and graphite. The cobalt stream will serve as feedstock for Electra’s permitted cobalt sulfate refinery, which has received financial support from both the Government of Canada and the U.S. Department of Defense. Electra’s collaboration with Aki Battery Recycling, a joint venture with the Three Fires Group, will ensure a reliable and secure supply of black mass feedstock. Aki, which is primarily Indigenous-owned, is establishing a battery collection and shredding operation focused on the responsible recycling of lithium-ion battery manufacturing scrap. This upstream supply chain security bolsters Electra’s immediate demonstration efforts and long-term commercial goals.

“Through Aki, we are creating a robust pipeline for processing battery manufacturing scrap and end-of-life batteries, converting them into valuable materials right here in Ontario,” Mell mentioned. “Alongside our partners, we are aligning innovation, sustainability, and Indigenous economic development to meet the global demand for critical minerals while promoting shared prosperity and long-term stewardship within the battery supply chain.”

**Collaboration and Commercial Path Forward**

Electra intends to present the engineering study results to downstream partners, including battery manufacturers and OEMs, who have shown interest in the project. Their feedback will help determine the optimal scale of the facility, as well as influence project timing, capital requirements, and potential offtake agreements. The study was conducted in partnership with Green Li-ion, whose modular technology supports the recycling process. Several process modifications and enhancements were made during this collaboration, resulting in proprietary improvements that enhance Electra’s competitive standing in the recycling value chain.

**Critical Minerals and National Security**

Electra champions North American energy independence amid rising global competition, particularly due to China’s dominance in critical mineral processing and battery supply chains. As gigafactory timelines progress and the battery market expands, Electra’s expertise in refining cobalt and other essential materials will play an integral role in this transformation. The integrated black mass refining program aligns with strategic priorities in both Canada and the United States. Cobalt is crucial not only for electric vehicles and grid storage but also for military-grade batteries, communication systems, and backup power—where reliability in extreme conditions is critical. Additionally, advanced battery storage systems rely significantly on cobalt-containing chemistries for their energy density, thermal stability, and prolonged cycle life. These systems are essential for stabilizing renewable energy sources, supporting remote or off-grid communities, and providing critical backup for hospitals, data centers, and industrial infrastructure. By recycling critical minerals domestically, Electra is actively working to close the loop on strategic minerals that are primarily exported to Asia for processing.

**Aki Battery Recycling**

Aki Battery Recycling, Electra’s joint venture with the Three Fires Group, is establishing a shredding and preprocessing facility to convert lithium-ion battery waste into black mass. This partnership not only brings economic benefits to Indigenous communities but also ensures meaningful participation in the battery supply chain while securing a sustainable raw material supply for Electra’s refining operations. Together, Electra and the Three Fires Group are dedicated to building a resilient, secure, and inclusive battery materials supply chain in North America.

**About Electra Battery Materials**

Electra is at the forefront of advancing North America’s critical minerals supply chain for lithium-ion batteries. Currently focused on developing North America’s only cobalt sulfate refinery, Electra is implementing a phased strategy to bring critical minerals refining back to North America and reduce dependence on foreign supply chains. In addition to establishing the cobalt sulfate refinery, Electra’s strategy encompasses nickel refining and battery recycling initiatives. Growth projects include integrating black mass recycling at its existing refining complex, evaluating opportunities for cobalt production in Bécancour, Quebec, and exploring the potential for nickel sulfate production within North America.

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

**Contact:**

Heather Smiles
Vice President, Investor Relations & Corporate Development
Electra Battery Materials
[heather.smiles@electrabmc.com](mailto:heather.smiles@electrabmc.com)
1.416.900.3891
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