Electra Battery Materials Corporation provided an update on its battery materials recycling trial, confirming improved recoveries of high-value elements, higher metal content in saleable products produced, and reduced use of reagents. Combined, the improvementsave the way for higher-quality customer products and improved economics for continuous battery materials recycling operations. As a result of the successes achieved, Electra will continue to process black mass material at its refinery complex.

Recovery rates for nickel, cobalt, and manganese continue to improve along with enhancements to hydrometallurgical process and reductions in reagent consumption. As accelerate black mass recycling strategy, focus has broadened to include upstream battery scrap shredding as well as upgrading refined products to a battery-grade quality. While The company anticipates releasing a summary report of findings from the demonstration plant have been operating for the past nine months, the company have decided to extend demonstration plant operations to build on recent success.

Black Mass Recycling Trial Highlights: Electra has processed 40 tonnes of black mass material to date in a plant scale setting, believed to be the first of its kind in North America. Recovery rates for all targeted metals have improved since the start of the trial in late December 2022. Recovery rates for manganese, in particular, have improved by more than 50% from results achieved in a lab setting.

Metal content contained in the nickel-cobalt mixed hydroxide precipitate (MHP) produced from the recycling process has increased in the range of 5 to 10% since the start of the trial. An increase in metal content results in a higher value saleable product, thereby improving the potential economics of continuous recycling operations. Approximately 20 tonnes of nickel-cobalt MHP product has been shipped to customers to date.

Reagent requirements have been reduced and in some cases alternative, less costly reagents have been used for improved overall metal recovery. Further, some of the reagent additions substituted have reduced overall impurity levels within the process. The reduction in reagent use and substitution of certain reagents are expected to lower operating expenses, thereby improving the economics of continuous recycling operations.

Based on results achieved to date, Electra has elected to continue processing black mass material at its refinery Complex, to further enhance its process and continue delivery of saleable products to customers. As the only plant-scale operator in North America currently recovering all critical metals from recycled lithium-ion batteries, the company are very proud of the achievements made by its people and the performance of continuous recycling operations. The operations and technical staff have repeatedly demonstrated innovative solutions centered on improving efficiencies of process while at the same time simplifying the flow sheet.

These changes have been quickly applied in the field and generated value in products being produced. In addition to the gains made to metal recoveries and reagent use, other changes, such as improving the washing of saleable residues in filter press equipment and recycling internal water streams, have improved overall efficiencies. With decision to continue processing black mass material in goal to expand processing capacity, now plan to further enhance process and target battery-grade quality products." Electra launched its black mass trial at the end of December 2022, and has processed material in a batch mode, successfully extracting products containing lithium, nickel, cobalt, manganese, copper, and graphite.

Electra's trial is being conducted at the Company's refinery complex north of Toronto. Although the cobalt refinery is currently being conducted at the Company's factory complex north of Toronto. While the cobalt refinery is expected to be in the second quarter of 2022, the company has announced that the company has elected to continue processing Black mass material at its refinery complex, to further enhance its process.