Electra Signs MoU with Three Fires Group to Recycle Lithium-ion Battery Waste in Ontario
Electra Battery Materials Corporation announced the signing of a memorandum of understanding (MOU) with the Three Fires Group (TFG) to form a joint venture focused on the recycling of lithium-ion battery waste in Ontario.
May 04, 2023. By News Bureau
“We are excited by the opportunity to work with the Three Fires Group and solve a pressing challenge of the EV battery supply chain, namely how to recycle and repurpose battery waste,” said Trent Mell, CEO of Electra. “Our joint-venture will pave the way for producers of various lithium-ion batteries and energy storage equipment in Ontario to reduce their waste, reuse high-value and increasingly scarce commodities like nickel and cobalt, and lower carbon emissions in their manufacturing activities.”
“Ontario is quickly emerging as an important centre in the global EV supply chain, potentially providing economic prosperity for generations to come,” said Reggie George, Executive Director – Special Projects and Partnerships with the Three Fires Group. “Critical to this success will be ensuring that all manufacturing activities related to the EV supply chain are carried out sustainably and responsibly. We believe First Nations should be leading the charge in ensuring a circular economy around the transition to EV’s, and we’re proud to be taking the first steps together with Electra.”
As part of the MOU, Electra and the Three Fires Group have agreed to work together to secure a net-zero industrial facility that can be used to shred and separate lithium-ion batteries and produce black mass material.
The joint-venture partners have also agreed to collaborate on the development of economic studies of sourcing of engineering, procurement, construction, and management requirements necessary to launch the battery waste recycling facility.
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