Electra to Talk about Partnership Alternatives at Indonesian Essential Minerals Summit

Article content material

TORONTO, Aug. 30, 2024 (GLOBE NEWSWIRE) — Electra Battery Supplies Company (NASDAQ: ELBM; TSX-V: ELBM) (“Electra” or the “Firm”) is happy to announce its participation in Indonesia’s first essential minerals convention, Fastmarket’s Worldwide Essential Minerals and Metals Summit: Indonesia. The summit will carry collectively trade leaders, policymakers, and stakeholders to debate Indonesia’s function within the world power transition. Electra’s participation will underscore the alternatives to develop sustainable nickel and cobalt provide chains for the North American battery supplies sector.

Article content material

Electra CEO, Trent Mell, will sit on a panel titled “Inspecting Indonesia’s Function in Constructing an IRA-Compliant Provide Chain.” The dialog will delve into Indonesia’s increasing function as a key supply of nickel and cobalt and methods to construct an EV provide chain that meets the necessities of the U.S. Inflation Discount Act. As electrical car market share continues to increase, Indonesia’s strategic significance within the world provide chain is poised to develop considerably.

Electra’s involvement on this convention is well timed, following its latest announcement of a US$20M Division of Protection grant (August 19, 2024) geared toward advancing home cobalt refining capabilities. This grant marks a major milestone in Electra’s broader technique to boost the resilience of the North American battery minerals provide chain and diversify away from heavy reliance on Chinese language processors.

“We’re honored to be invited to share our insights at this inaugural occasion,” stated Mell. “Indonesia will play an important function in the way forward for battery manufacturing, and we welcome these discussions round how the area can enter new markets to help the event of an IRA-compliant provide chain. As we glance to the longer term, increasing North America’s battery supplies provide chain by growing processing capability for nickel and cobalt not solely fosters new world partnerships but in addition ensures that our method to sourcing and manufacturing aligns with environmental stewardship and long-term sustainability targets.”

Article content material

Article content material

Electra’s near-term precedence is recommissioning and increasing its Ontario cobalt refinery, whereas its longer-term imaginative and prescient contains extending its efforts to incorporate onshoring extra essential mineral refining processes. Further phases in constructing the North American provide chain might present a closed loop for recycled battery supplies, a second cobalt sulfate facility in Bécancour, Quebec, and a strategically situated North American nickel sulfate refinery to provide battery grade nickel to the North American and world electrical car battery market.

About Electra Battery Supplies

Electra is a processor of low-carbon, ethically-sourced battery supplies. Presently centered on growing North America’s solely cobalt sulfate refinery, Electra is executing a phased technique to onshore the electrical car provide chain and supply a North American resolution for EV battery supplies refining. Along with constructing North America’s solely cobalt sulfate refinery, its technique contains integrating black mass recycling, potential cobalt sulfate processing in Bécancour, Quebec, and exploring nickel sulfate manufacturing potential inside North America. For extra info, please go to www.ElectraBMC.com.

Article content material

Contact
Heather Smiles
Vice President, Investor Relations & Company Growth
Electra Battery Supplies
information@ElectraBMC.com
1.416.900.3891

Neither the TSX Enterprise Trade nor its Regulation Providers Supplier (as that time period is outlined in insurance policies of the TSX Enterprise Trade) accepts accountability for the adequacy or accuracy of this launch.

Cautionary Observe Concerning Ahead-Trying Statements

This information launch could include forward-looking statements and forward-looking info (collectively, “forward-looking statements”) throughout the which means of relevant securities legal guidelines and the USA Personal Securities Litigation Reform Act of 1995. All statements, aside from statements of historic information, are forward-looking statements. Typically, forward-looking statements could be recognized by way of terminology reminiscent of “plans”, “expects”, “estimates”, “intends”, “anticipates”, “believes” or variations of such phrases, or statements that sure actions, occasions or outcomes “could”, “might”, “would”, “may”, “happen” or “be achieved”. Ahead-looking statements are primarily based on sure assumptions, and contain dangers, uncertainties and different elements that would trigger precise outcomes, efficiency, and alternatives to vary materially from these implied by such forward-looking statements. Among the many bases for assumptions with respect to the potential for extra authorities funding are discussions and indications of help from authorities actors primarily based on sure milestones being achieved. Components that would trigger precise outcomes to vary materially from these forward-looking statements are set forth within the administration dialogue and evaluation and different disclosures of threat elements for Electra Battery Supplies Company, filed on SEDAR+ at www.sedarplus.com and with on EDGAR at www.sec.gov. Different elements that would lead precise outcomes to vary materially embrace modifications with respect to authorities or investor expectations or actions as in comparison with communicated intentions, and common macroeconomic and different traits that may have an effect on ranges of presidency or personal funding. Though the Firm believes that the knowledge and assumptions utilized in making ready the forward-looking statements are cheap, undue reliance shouldn’t be positioned on these statements, which solely apply as of the date of this information launch, and no assurance could be on condition that such occasions will happen within the disclosed instances frames or in any respect. Besides the place required by relevant regulation, the Firm disclaims any intention or obligation to replace or revise any forward-looking assertion, whether or not because of new info, future occasions or in any other case.

Article content material