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Ottawa to provide $20M for Electra refinery expansion in Temiskaming Shores

The federal government will provide $20 million to Electra Battery Materials Corporation toward a $99.4 million project to repurpose and expand the company’s existing refinery in Temiskaming Shores to produce battery-grade cobalt sulfate. The funding was announced May 4, 2026, in Temiskaming Shores by Pauline Rochefort, MP for Nipissing—Timiskaming and parliamentary secretary to the Secretary of State (Rural Development), on behalf of Industry Minister Mélanie Joly.

Innovation, Science and Economic Development Canada (ISED) said the project is expected to create and maintain more than 160 jobs, including 60 full-time direct jobs in Northern Ontario. ISED also projected that construction would employ about 100 skilled trades workers.

According to ISED, the funding will be provided through the federal Strategic Response Fund.

ISED described Electra’s Temiskaming Shores facility as North America’s first cobalt sulfate refinery and said that, at full capacity, it could supply enough cobalt sulfate for the equivalent of up to one million electric vehicles annually.

Electra CEO Trent Mell said the company is targeting commissioning in 2027.

Electra Battery Materials Corporation was founded in 2011 as First Cobalt and is a publicly traded Canadian company headquartered in Toronto, according to ISED.

The May 4 announcement also follows earlier federal support linked to Electra’s work in Temiskaming Shores. Natural Resources Canada provided $5 million in June 2024 through its Critical Minerals Research Development and Demonstration Program to support the next phase of Electra’s battery recycling proposal in Temiskaming Shores, ISED said.

ISED also said the Federal Economic Development Agency for Northern Ontario invested an additional $5 million through the Regional Economic Growth through Innovation program. That contribution, ISED said, added to a separate $5 million investment from 2020 to support continued recommissioning and expansion of Electra’s hydrometallurgical cobalt refinery in Ontario.

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