Electra Battery Materials Corporation announced that it has signed a battery recycling and cobalt sulfate supply agreement with Marubeni Corporation. HIGHLIGHTS: Memorandum of understanding encompasses sourcing of black mass derived from recycled lithium-ion batteries for Electra's Canadian refinery and marketing of Electra's cobalt sulfate in Japan; Marubeni's wide network of battery recyclers in Asia and elsewhere will assist in the sourcing of lithium-ion battery material for Electra's hydrometallurgical recycling operation in Ontario, Canada; Electra intends to market a portion of its cobalt production into existing lithium-ion battery supply chains in Japan that are serving the North American market, as the Company develops its domestic Battery Materials Park; Electra is on track to commission its near-zero carbon cobalt refinery in late 2022, positioning the Company as the only producer of battery grade cobalt in North America. With this agreement, Electra and Marubeni are committing to providing electric vehicle manufacturers and battery cell makers with high-quality, low carbon and traceable battery materials. Electra will benefit from Marubeni's expansive network of battery cell recyclers worldwide to secure a stable source of black mass and other recyclable materials for the Company's recycling operation, which is slated for commissioning in 2023. Electra will also leverage Marubeni's strong presence in Japan and Asia as a preferred facilitator of battery raw material flows into the regional EV supply chain.