5 Best Battery Technology Stocks to Buy for Grid Storage

4. Electra Battery Materials Corporation (NASDAQ:ELBM)

Short Percentage of Shares Outstanding: 1.16%

On June 8, Electra Battery Materials Corporation (NASDAQ:ELBM) announced that it has engaged engineering consultants to advance a development study for a potential battery-grade nickel refinery in the southeastern United States. The proposed facility is being evaluated with a target annual production capacity of approximately 15,000 tons of nickel sulfate and metal, along with 1,000 tons of cobalt metal.

Chief Executive Officer Trent Mell stated that, as the company approaches a key construction milestone for its cobalt sulfate refinery, it is also progressing its longer-term pipeline of critical minerals processing assets. He added that the expertise gained through the design and construction of the company’s North American cobalt sulfate refinery provides a strong foundation for evaluating future nickel refining opportunities. Electra also reaffirmed that its cobalt sulfate refinery remains its highest-priority development project and is expected to begin commissioning in the second quarter of 2027.

On June 4, Electra Battery Materials Corporation (NASDAQ:ELBM) announced the award of a structural, mechanical, and piping construction contract valued at approximately C$12.4 million to Ontario-based Kilmarnock Enterprises. The contract forms part of the ongoing construction activities at Electra’s cobalt sulfate refinery complex located north of Toronto and represents another step forward in the development of the company’s flagship critical minerals processing facility.

Founded in 2011 and headquartered in Toronto, Canada, Electra Battery Materials Corporation (NASDAQ:ELBM) produces and recycles critical raw materials like cobalt and nickel for the EV supply chain. The company supplies the high-purity, battery-grade sulfate materials needed to build lithium-ion energy storage systems (ESS) and electric vehicles.