Press Release: Evelution Energy Engages Mizuho as its Global Financial Advisor

Yuma, Arizona, August 8, 2023 –  EVelution Energy, a U.S. electric vehicle (EV) battery materials processing company, is pleased to announce that it has engaged Mizuho, a leading global investment banking and securities firm, as its financial adviser. Under the terms of the engagement, Mizuho will provide financial and strategic advisory services to EVelution Energy on the structuring of its partnerships with customers in the North American electric vehicle supply chain, particularly OEMs in the automotive and aerospace & defense sectors.

EVelution Energy recently announced plans to build the first solar-powered, carbon neutral cobalt sulfate production facility in the United States, in Yuma County, Arizona. The facility will produce cobalt sulfate for EV batteries, a material crucial to America’s initiative to electrify the U.S. automotive fleet and transition to a net-zero carbon free economy. EVelution Energy’s facility is expected to produce approximately 33,000 metric tons of EV battery grade cobalt sulfate per year, enough to support the domestic production of approximately 470,000 EVs each year.

“We are very excited to partner with Mizuho. We believe that as our global financial adviser, they are well-suited to assist us in developing the necessary commercial and financial strategic partnerships with automotive OEMs and aerospace & defense players to make our project a resounding success. The development of domestic EV battery material processing facilities in the United States, particularly “green” facilities like ours, is of key importance to and increases the self-sufficiency of the United States in a strategically important and fast-growing industry,” said Navaid Alam, President of EVelution Energy.

Located in a “qualified opportunity zone” in Yuma County, Arizona, EVelution Energy’s “green” cobalt sulfate production facility is expected to combat climate change, boost U.S. manufacturing jobs, and reduce U.S. economic reliance on other countries for EV battery materials, like cobalt sulfate. Currently, there are no commercial scale EV-battery grade cobalt processing facilities in North America. EVelution intends to be the first to produce this critically important material in the United States at a commercial scale.

EVelution Energy expects to commence construction of its processing facility in 2024 and expects the facility to be fully operational by 2026. Its solar-powered plant will not only supply all of the facility’s power requirements, but is also expected to deliver clean power to the surrounding agricultural community.

Notes to editors

For further information please contact:

EVelution Energy’s Press Office:

E: [email protected]

About EVelution Energy

EVelution Energy LLC is a newly formed “qualified opportunity zone” business focused on building and operating the first solar-powered, carbon-neutral, Electric Vehicle (EV) battery-grade materials processing facility in the United States. EVelution Energy’s proposed processing facility is located in a “qualified opportunity zone” in Yuma County, Arizona.

EVelution Energy LLC is a wholly owned subsidiary of the EVelution Energy QOZ Fund, LP, a newly formed US based “qualified opportunity zone” fund, organized for the purpose of investing in “qualified opportunity zone” properties and businesses in the United States. The Qualified Opportunity Zone Program was established by the Tax Cuts and Jobs Act of 2017 to provide a tax incentive for private, long-term investments in economically distressed communities.

EVelution Energy is led by an execution-focused team of experienced professionals with extensive international experience in successfully completing large strategic infrastructure projects in various locations worldwide.

Visit: www.evelutionenergy.com

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Press Release: EVelution Energy Signs LOI to Supply Substantially All of its U.S. Cobalt Production to Mitsui

YUMA, AZ, UNITED STATES, April 28, 2025 /EINPresswire.com/ — In a groundbreaking development, EVelution Energy, LLC (“EVelution”), a U.S. critical minerals processing company, has signed a letter of intent with Mitsui & Co., Ltd. (“Mitsui”; Head Office: Tokyo;...

Press Release: Arizona critical minerals processor taps EB-5 immigrant investors for financing

Yuma, Arizona, April 9, 2025 – Evelution Energy LLC, an Arizona based critical minerals processor ("EVelution") is pleased to announce that it has launched a financing of up to $64.8 million in secured subordinated debt under the EB-5 Immigrant Investor Program, to...

Press Release: Evelution Energy Receives $200 Million LOI from U.S. Exim Bank to Fund Construction of U.S. Cobalt Processing Facility

Yuma, Arizona, December 2, 2024 –   Evelution Energy LLC ("EVelution Energy" or the "Company") is pleased to announce that it has received a non-binding Letter of Interest ("LOI") from the Export-Import Bank of the United States ("EXIM") for a loan of up to $200...

Press Release: Evelution Energy and Glencore Sign a Letter of Intent to Supply Evelution’s U.S. Cobalt Processing Facility.

Yuma, Arizona, April 2, 2024 – Glencore, one of the world’s largest global diversified natural resource companies and one of the world’s largest producers of cobalt, and EVelution Energy, a U.S. EV battery materials processing company, have signed a Letter of Intent...

Press Release: EVelution Energy Inks Five-Year Supply Agreement for its Cobalt Processing Facility with Eurasian Resources Group

LONDON, UK, October 11, 2023 /EINPresswire.com/ -- EVelution Energy, a U.S. electric vehicle battery materials processing company, signed a preliminary five-year supply agreement with Eurasian Resources Group (ERG), a leading diversified natural...

Press Release: Evelution energy recognized for contribution to Arizona; eyes doubling output at planned cobalt processing facility

Phoenix, Sept. 14, 2023 –  EVelution Energy, an Arizona-based electric vehicle (EV) battery materials processing company, was recognized by the Arizona Commerce Authority (ACA) on Wednesday for its contribution to the state’s economy at a board of directors...

Press Release: EVelution Energy Announces $200 Million Cobalt Production Facility in Yuma County

The first solar-powered cobalt production facility in the U.S. will create 360 jobs over the life of the project. YUMA COUNTY, AZ (March 29, 2023) – EVelution Energy, a U.S. electric vehicle (EV) battery materials processing company, announced plans to build a...

Press Release: Yuma County Approves 1st Solar Powered Cobalt Processing Facility in the United States

Yuma, Arizona, March 6, 2023 – EVelution Energy, a U.S. Electric Vehicle (EV) battery materials processing company, has received the unanimous approval of the Yuma County Board of Supervisors for the development of a solar-powered cobalt sulfate production facility in...

Press Release: Trafigura and EVelution energy sign memorandum of understanding on U.S. cobalt processing facility

Singapore, 24 October 2022 – Trafigura, one of the world’s largest physical commodity traders, and EVelution Energy, a U.S. EV battery materials processing company, have signed a Memorandum of Understanding (MOU) to support the development of a battery-grade cobalt...

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